Geneco is Singapore's largest electricity retailer by customer accounts, run by YTL PowerSeraya, one of the country's biggest generators. The pitch is simple: lock your rate below the SP regulated tariff and stop riding the quarterly price swings. As of June 2026, the SP tariff sits at 29.72 cents/kWh including GST, and Geneco's headline 24-month fixed plan undercuts it. This review works through the actual rates, the deposit and exit fees printed in Geneco's official fact sheet, the green add-on, and the one question that decides whether a lock-in saves you money: where the tariff goes next.
Geneco is the retail brand of YTL PowerSeraya, a Singapore power generation company. That matters more than the marketing: a retailer backed by its own generator has a steadier cost base than a pure reseller, which is part of why Geneco survived the 2021-2022 energy shock that wiped out several smaller players, including Ohm and iSwitch.
Under the Open Electricity Market (OEM), the company you sign with only handles pricing and billing. SP Group still owns the grid, reads your meter and keeps the power flowing, so switching to Geneco changes your bill, not your supply. There is no separate wire, no installation, and no risk of a blackout if you pick the wrong retailer. If you want the regulator's own explanation of how this works, the wider retailer comparison lays out every provider side by side.
By customer accounts Geneco is the market leader among OEM retailers, holding close to 30% of the residential and small-business base in 2026. Size is not the same as cheapest, but it does mean a published price list, a real customer service line and a track record you can check.
Geneco runs a small, deliberately readable line-up. The plans below are Standard Price Plans, which means the rate already includes the carbon tax, the market support services charge and the network costs that SP would otherwise itemise. The headline figure is what you pay per unit, with nothing bolted on later.
The reference point is the SP regulated tariff of 29.72 cents/kWh (incl. GST) for the 1 April to 30 June 2026 quarter. Every fixed plan worth signing should beat that number on the day you commit.
| Plan | Type | Rate (cents/kWh) | Term | Best for |
|---|---|---|---|---|
| Get It Fixed 24 | Fixed price | 28.30 (per official fact sheet) | 24 months | Households wanting a long, flat rate below the tariff |
| Get It Fixed | Fixed price | From ~28.87 (verify live) | 12 months | A shorter lock-in if you may move soon |
| Give Us A Try | Fixed price | From ~29.87 (verify live) | 6 months | Testing OEM without a long commitment |
| Get It 7 To 7 | Peak / off-peak | Peak ~32.50, off-peak ~27.80 | 24 months | Night owls and shift workers who use most power 7pm-7am |
| SP regulated tariff | Default (no contract) | 29.72 (incl. GST) | No contract | Doing nothing; resets every quarter |
Get It Fixed 24 is the plan Geneco pushes hardest. Its public fact sheet lists 28.30 cents/kWh for the full 24 months. Against the current 29.72-cent tariff that is roughly a 4.8% saving per unit, before any sign-up rebate. Promotional teaser rates around 28.80 cents have also appeared in 2026 campaigns, so the exact figure you see depends on the offer running that week.
Get It 7 To 7 only makes sense if you genuinely shift load to the cheaper window. The off-peak rate undercuts the tariff, but the peak rate sits above it, so a normal weekday-home household can end up paying more than a flat plan. Pull your last few months of usage from the SP app before assuming a time-of-use plan helps you.
The rate is the easy part. The fine print in the fact sheet is where households get caught, especially if life changes mid-contract. These figures come straight from Geneco's Get It Fixed 24 Standard Price Plan fact sheet.
There is no registration fee and no recurring monthly fee. The catch points are the security deposit, which is refundable, and the early termination fee, which scales by dwelling type and by how many months are left on your contract.
The exit fee is per remaining month, so leaving early on a fresh 24-month condo contract could cost up to 24 x S$20 = S$480. The saving grace: if you are moving house, Geneco lets you carry the contract to the new address fee-free, provided the new contract covers at least the months left and you send the new SP account documents. Treat that as a planned move, not a 'change my mind' escape hatch. Before locking in, run the numbers against your typical bill in our personal budget calculator so the lock-in fits your actual cash flow.
Power Eco is Geneco's optional sustainability add-on. You choose to offset 25%, 50%, 75% or 100% of your usage using either Carbon Credits or Renewable Energy Certificates. The 100% tier costs 1.00 cent/kWh before GST, which Geneco frames as starting from around S$1 a month for a light user.
It is an offset, not literally green electrons down your wire (no retailer can promise that on a shared grid). For an average household it adds a few dollars a month. As part of Geneco's eighth-anniversary push in 2026, new sign-ups have been offered Power Eco free for the first eight months, so the real question is whether you keep it once the free run ends.
The case for a 24-month fixed plan rests on one belief: that the tariff will stay flat or rise. As of June 2026 the EMA has signalled the regulated tariff is expected to climb meaningfully from July, which strengthens the lock-in argument for anyone still on the default rate. Lock in below today's tariff and you are insulated from the next few quarterly hikes.
The case against is flexibility. If you might move overseas, sell up or expect tariffs to fall, a 6 or 12-month plan keeps your options open for a few cents more per unit. Either way, Geneco is competitive rather than always the single cheapest, peers like Keppel, Senoko, Tuas Power and PacificLight trade the top spot constantly, so check the live rate on the day, not last month's review.
Switching itself is low-friction. Under the OEM framework your supply never drops, your U-Save rebates continue, SP charges no exit fee, and the new contract can start in about five business days. For the bigger picture on what a Singapore household actually spends, the average utilities bill guide puts the per-unit savings in context.
Yes, on its fixed plans as of June 2026. Geneco's Get It Fixed 24 lists 28.30 cents/kWh against the SP tariff of 29.72 cents/kWh including GST, roughly a 4.8% saving per unit before any sign-up rebate. The tariff resets quarterly, so a fixed plan also shields you from future hikes.
Nothing changes physically. SP Group still owns the grid, reads your meter and delivers the electricity, so there is no disruption, no rewiring and no blackout risk. Geneco only handles your pricing and billing, and you keep your U-Save rebates after switching.
It is charged per remaining month and scales by dwelling type: S$10 for HDB 1-2 room, S$15 for HDB 3-5 room or Executive, S$20 for EC or condo, S$40 for terrace or semi-detached, and S$75 for a bungalow. Moving house can waive it if you transfer the contract to your new address.
Yes, but it is refundable. The deposit ranges from S$50 for a 1-2 room HDB flat up to S$220 for a bungalow, with HDB 3-5 room flats and Executive units at S$90. It is not subject to GST and is returned when you close the account in good standing.
It is an optional carbon offset, not green electricity to your home, since the grid is shared. The 100% tier costs 1.00 cent/kWh before GST, a few dollars a month for most households. New 2026 sign-ups have been offered it free for eight months, so the real test is whether you renew it after that.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.