Commercial or Industrial Consumers
business consumers with an average monthly electricity consumption of at least
2,000 kWh (equivalent to a monthly electricity bill of at least $400) are
eligible to become contestable. To date, around 90,000 business accounts, making up about 80% of the total
electricity demand, are eligible to exercise this choice and flexibility in
their electricity purchases.
Soft Launch of Open
Electricity Market in Jurong
April 2018, households and businesses in Jurong can choose to buy electricity
from a retailer with a price plan that best meets their needs. The soft launch
of the Open Electricity Market (previously referred to as Full Retail
Competition) will provide consumers with more choices and flexibility in their
total of 108,000 residential consumer accounts and 9,500 business consumer accounts
will have the option of buying electricity from a retailer of their choice, or
continue buying electricity from SP Group at the regulated tariff.
soft launch will involve consumers whose premises have postal codes starting
with 60, 61, 62, 63 and 64. Consumers will be notified by EMA in Q1 2018.
Open Electricity Market
in the second half of 2018
the second half of 2018, the remaining 1.3 million accounts, mainly households,
will also enjoy choice and flexibility in buying electricity. Those who prefer
to stay with SP Group to buy electricity at the regulated tariff can continue
to do so.
What You Should Know About Open Electricity Market
1. What is Open Electricity Market?
This is part of EMA’s progressive effort to liberalise the electricity market, and will allow all consumers in Singapore to have more choices and flexibility in their electricity purchases.
2. What are the benefits of Open Electricity to consumers?
With competition among electricity retailers, consumers stand to benefit from competitive pricing, enhanced service standards and innovative packages offered by retailers.
3. What will be the choices available for consumers when the electricity market is fully opened?
When the electricity market is fully opened, consumers can choose to buy electricity from:
a) an electricity retailer at a price plan that best meets their needs; or
b) the wholesale electricity market at the half-hourly wholesale electricity prices through SP Group; or
c) SP Group at the regulated tariff
4. Will consumers’ electricity supply be affected if they choose to switch to an electricity retailer?
Consumers will continue to enjoy the same reliable electricity supply regardless of their choice of electricity retailer, as SP Group will continue to operate the national power grid.
5. Must consumers switch to a retailer?
It is not compulsory for consumers to switch to a retailer. Those who prefer to stay with SP Group to buy electricity at the regulated tariff can continue to do so.
6. Is there still a minimum consumption threshold for business consumers to become contestable?
Business consumers can become contestable if they meet one of the following requirements:
a) An average monthly electricity consumption of at least 2,000 kWh (equivalent to a monthly electricity bill of at least $400); OR
b) Are involved in the soft launch of Open Electricity Market – i.e. consumers whose premises have postal codes starting with 60, 61, 62, 63 and 64.
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