We have some bad news for you. Electricity tariffs will rise by an average of 6.1% for the next three months.
What this means is that electricity prices will rise by 6.1% and hence you have to pay more for your monthly energy bills. But that’s not all, the pace of inflation will also increase as a result of higher energy prices.
Which sector will be the most negatively impacted?
As the largest consumer of electricity across sectors, businesses within the industrial related sectors will bear the greatest burden from the rise in tariffs.
As a bearer of bad news, we made sure to bring some good news for you too!
The main culprit of rising energy prices: rising tariff.
By accounting for the fact that the bulk of the tariff covers energy costs which includes fuel costs, operating cost of power stations, carbon taxes (if applicable) etc, we have the perfect solution for you to avoid these costs.
The Solution? 3GEX.
Here at GasHub, we focus on driving our LNG based proprietary and patented Tri-generational Energy Xcelerator (3GEX) suite of technology and business solutions in Singapore and the Asia Pacific region. 3GEX provides you with a variety of flexible, eco- friendly and cost-effective solution to suit your operational needs.
In short, 3GEX is our brand of CHP energy. By capturing the heat that would otherwise be wasted to provide for useful thermal energy, CHP can achieve efficiency levels of up to 90%.
With its high efficiency, you get to save a considerable amount of money on your energy bills and allow you to hedge against a further increase in electricity cost in the future.
What are the available pricing plans?
Fuel Index Pricing Plan
The plan is most suited for oil and FOREX experts or companies who peg their products to oil prices. This plan allows you to maximize your electricity according to the market rates.
Pool Pricing Plan
Otherwise known as the ‘wholesale’ or ‘spot price’, its energy prices are based on market fluctuations. While this plan allows you to potentially secure low energy rates, you will have to bear the risk of high volatility in pricing.
Fixed Short Term Discounted Pricing/ Discount Off Tariff Plan.
Under this plan, electricity tariff levels are reviewed every quarter against a benchmark. This guarantees savings with discounts off regulated electricity tariff.
Fixed Long-Term Pricing Plan
If you are highly risk adverse and have a fixed budget to work with, take up this plan and you just need to pay the same price for the entire contractual period regardless of any shocks occur within the oil market. This plan is best suited for Manufacturing and services industries.
Overwhelmed by the amount of information, we are here to help. To choose the optimal price plan for your business, you just need to ask yourself two simple questions:
- Are you willing to accept volatility in electricity tariff?
- Do you actively monitor fuel oil and FOREX prices?
Based on your preferences, here are the best plans for you and your business:
If you are still unsure of what plans to opt for, contact our friendly customer services officers and we will work out a plan that helps you optimize your energy needs.