Liberalisation of Retail Electricity Market
Since 2001, EMA has progressively opened the retail electricity market to competition to allow business consumers more options to manage their energy cost. Instead of buying from SP Group at the regulated tariff, eligible consumers can choose to buy from a retailer at a price plan that best meet their needs, or buy from the wholesale electricity market at the half-hourly wholesale electricity prices. Those who exercise this choice are termed as contestable consumers.
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. Currently, about 95,000 business accounts, making up about 80% of the total electricity demand, are eligible to exercise this choice and flexibility in their electricity purchases.
Since 1 April 2018, EMA commenced the soft launch of Open Electricity Market, where households and businesses in Jurong can choose to buy electricity from a retailer at a price plan that best meets their needs.
From 1 November 2018, the Open Electricity Market will be extended to all consumers across Singapore by zones. This initiative will provide about 1.4 million households and business accounts with more choice and flexibility when buying electricity, while being provided with the same electricity supply through the national power grid.
Consumers who wish to remain with SP Group and buy electricity at the regulated tariff can choose to do so, and no further action is needed on their part. It is not compulsory to switch to a retailer and there is no deadline for switching.
The nationwide launch of Open Electricity Market will be rolled out progressively in four geographical zones.
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Zone
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Postal Codes Starting With…
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To be launched from*
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1
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58 – 78
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1 November 2018
|
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2
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53 – 57, 79 – 80, 82 – 83
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1 January 2019
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3
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34 – 52, 81
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1 March 2019
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4
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01 – 33
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1 May 2019
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* Subject to changes.
Visit www.openelectricitymarket.sg
for the latest schedule. Consumers with postal codes starting with 60-64 were
able to buy from a retailer since 1 April 2018.
Open
Electricity Market