SINGAPORE - Telecommunications heavyweight Singtel has ventured into the electricity reselling business in a tie-up with YTL PowerSeraya's integrated energy provider unit Geneco.
The power to be resold through Singtel Power will allow households to save up to 30 per cent on their current bills, and the switch from their incumbent provider will be "seamless", said Singtel and Geneco in a joint statement on Thursday (Jan 10).
Mr Yuen Kuan Moon, chief executive officer of Singtel's consumer Singapore division, said: "With Singtel Power, we seek to provide greater value, choice and flexibility to Singapore households. We are excited to be a convenient one-stop shop for their power and communications needs. In addition to savings on their power bills, customers can enjoy an attractive discount on their fibre broadband subscription and mobile handset purchase."
Singtel and Geneco aim to leverage Singtel's wide customer base and Geneco's experience as a brand of YTL PowerSeraya. The latter is the second-largest power-generation company in Singapore.
Said Mr Yeoh Keong Hann, executive director of YTL Power: "At Geneco, we recognise that good energy becomes even better with great partnerships. Working with Singtel, we aim to offer Singaporeans easy access to better energy plans, with the option of value-added services from Singtel. The partnership allows us to tap Singtel's extensive customer reach as part of our 'power the change' vision to build a sustainable energy future for Singapore."
Residential customers can choose from three Geneco plans and enjoy exclusive Singtel promotions. For a start, new Singtel Power customers who also sign up or recontract on a Singtel 1Gbp fibre broadband plan will enjoy one-month free broadband and an $80 mobile handset discount.