Electricity Contracting Options
The Energy Market Authority (EMA) has worked with power generation companies (gencos) and electricity retailers to provide the following electricity contracting options for large consumers (with average monthly consumption of at least 4,000 kilowatt-hours (kWh)) who want to reduce their exposure to the volatile wholesale electricity prices (visit Energy Market Company website for the prices).
Temporary Electricity Contracting Support Scheme (TRECS)
Under this scheme, participating gencos are able to draw on EMA's Standby LNG Facility (SLF) which is replenished with gas purchased from the spot LNG market. This means the plans need to be re-priced every month to reflect the prevailing global gas prices. With monthly plans, consumers can also avoid being locked into long-term contracts, allowing them to consider other offers if global gas prices fall upon the expiry of the contracts.
For the month of August 2022, the fixed electricity rate is capped at 38.231 cents/kWh. It does not include third-party charges such as transmission charges by SP Group and market charges by the Energy Market Company. Consumers can sign up for these monthly fixed price plans from 15 July 2022 to 25 July 2022 (both dates inclusive).
Several retailers are also offering price plans with a significant fixed price component. Retailers offer more of such plans as it reduces their risk in being exposed to high wholesale electricity prices in the event of unplanned outages. Consumers can sign up for these plans from 15 July 2022 to 25 July 2022 (both dates inclusive).
Below table outlines the key information for the various electricity contracting options.
|Monthly Fixed Price Contracts (August 2022)
||Other Commercial Contracts
|For consumers with average monthly consumption of at least 4,000kWh
The following retailer will offer a fixed electricity rate capped at 38.231 cents/kWh:
1. PacificLight Energy Pte Ltd
- The fixed electricity rate is the maximum fixed price for the month. It does not include third-party charges such as transmission charges and market charges.
Consumers should engage the participating retailer to negotiate pricing and non-pricing terms.
Participating retailer's offer is subject to availability and consumers will be contracted on a first-come-first-served basis.
|For consumers with average monthly consumption of 4,000kWh - 50,000kWh
The following retailer will offer fixed price plans:
1. Sembcorp Power Pte Ltd
- Please approach the retailer directly to find out more about these price plans.
For consumers with average monthly consumption of at least 4,000kWh
The following retailers will offer plans with a significant fixed price component:
1. Geneco (by Seraya Energy)
2. Senoko Energy Supply Pte Ltd
Separately, the following retailer offers fixed price plans with contract duration ranging from 6 months to 2 years:
- Please approach the retailers directly to find out more about their price plans.
1. Flo Energy
- The fixed electricity rate is determined by the retailer.
- Please approach the retailer directly to find out more about its price plans.
Consumers facing difficulty in securing an electricity contract may contact EMA via these channels.
Consumers may also refer to our FAQs for further information on electricity prices.
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