Currently, 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

Since 1 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) provides consumers with more choices and flexibility in their electricity purchases.

A total of 108,000 residential consumer accounts and 9,500 business consumer accounts have the option of buying electricity from a retailer of their choice, or continue buying electricity from SP Group at the regulated tariff.

The soft launch involves consumers whose premises have postal codes starting with 60, 61, 62, 63 and 64.

Open Electricity Market from the fourth quarter of 2018

Open Electricity Market will be extended to the rest of Singapore from the fourth quarter of 2018, allowing the remaining 1.3 million accounts (mainly households) to choose who they wish to buy electricity from. 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 and innovative packages offered by retailers.

3. What choices are available for consumers under Open Electricity Market?

With Open Electricity Market, consumers can choose to buy electricity from:

a) [Existing] SP Group at the regulated tariff. No action is required if you choose this option.
b) [New] An electricity retailer at a price plan that best meets their needs.
c) [New] The wholesale electricity market at half-hourly wholesale electricity prices through SP Group.

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.

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