Open 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 electricity from:
- A retailer at a price plan that best meet their needs; or
- The wholesale electricity market at the half-hourly wholesale electricity prices.
Those who exercise this choice are termed as contestable consumers.
In 2018, EMA began the rollout of the Open Electricity Market initiative which allowed about 1.4 million consumer accounts, mainly households, to enjoy more choices and flexibility when buying electricity. Regardless of their choices, consumers would still enjoy the same reliable supply through the national power grid.
More details on the Open Electricity Market can be found at www.openelectricitymarket.sg.
Soft Launch of Open Electricity Market in Jurong
EMA first introduced the Open Electricity Market in Jurong as a soft launch. From 1 April 2018 onwards, consumers, whose premises have postal codes starting with 60, 61, 62, 63 and 64, could
choose to buy electricity from a retailer at a price plan that best meets their needs. A total of 108,000 residential accounts and 9,500 business accounts could exercise their newfound option.
Nationwide Rollout of Open Electricity Market
From 1 November 2018, the Open Electricity Market was progressively extended to all consumers across Singapore by zones. Over 1.4 million accounts, mainly residential accounts, have the option of buying electricity from a retailer on a price plan that best meets their needs.
Consumers can also choose to remain with SP Group and buy electricity at the regulated tariff, with no further action 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 was rolled out progressively in four geographical zones.
||Postal Codes Starting With...
||58 - 78*
||1 November 2018
||53 - 57, 79 - 80, 82 - 83
||1 January 2019
||34 - 52, 81
||1 March 2019
||01 - 33
||1 May 2019
*Consumers with postal codes starting with 60-64 have been able to buy from a retailer since 1 April 2018.
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