Contract Expiry and Renewal
Your retailer will notify you at least 10 business days before your contract is due to expire. This means it is time to decide on your next purchase option.
Before deciding, 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.
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 renewed when it expires. Please also check with your retailer for any applicable fees.
Should your existing contract be automatically renewed, you can still terminate it within 30 calendar days of the commencement date, by giving your retailer at least 30 calendar days advance notice. In such instance, you are not required to pay any early termination charges or applicable fees.
For example, if you commence your auto-renewed contract on day T, you have up to T + 30 calendar days to inform your retailer that you wish to terminate the renewal without any early termination charges or fees. Your retailer will assist to terminate your contract no earlier than T+60 calendars days, depending on the terms of your contract.
Contracts without automatic renewal
The options if your existing contract is not automatically renewed are:
To continue buying electricity from a retailer (including your existing retailer) at a new price plan; or
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.