Contract Expiry and Renewal
Before deciding on your next purchase option, you should first check if your existing contract will be automatically renewed or otherwise.
Contracts with automatic renewal
Here’s what you need to know about your contract when it’s automatically renewed:
- The renewed electricity rate will be lower than the prevailing regulated tariff at the point of contract renewal.
- Contractual terms (e.g. security deposit, early termination charges, late payment fee) will be the same or better than your existing contract.
- All other terms and conditions of the renewed contract will remain unchanged.
- No early termination fee within the first 30 days of auto-renewal. For example, if the date of your auto-renewal is on 1 Jan 2025, you have until 30 Jan 2025 to terminate without incurring any early termination charges.
From 19 June 2026, if your electricity contract is automatically renewed, your electricity retailer will be required to implement enhanced safeguards to protect your interests. Please visit this page for the list of things you should be aware of.
If you do not wish to have your contract automatically renewed, do inform your retailer by the deadline stated in the notification. Otherwise, the contract will be automatically renewed when it expires. Please also check with your retailer for any applicable fees.
Contracts without automatic renewal
The options if your existing contract is not automatically renewed are:
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To continue buying electricity from a retailer (including your existing retailer) at a new price plan; or
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Switch to buying electricity from SP Group at the regulated tariff.
You will need to inform your retailer of your decision by the deadline stated in the notification. Otherwise, you will be switched back to buying electricity from SP Group at the regulated tariff upon contract expiry.
Remember to read and acknowledge the Consumer Advisory and Fact Sheet if you are selecting a new price plan.