Longer-term Electricity Contracts for Business Consumers

10 Mar 2022

Amid the increased price volatility in the wholesale electricity market due to the current global energy crunch, some business consumers have faced difficulties in securing fixed price electricity contracts. The Energy Market Authority (EMA) has therefore worked with electricity retailers to offer more long-term fixed price contracts for business consumers at competitive rates.

2. In response, Sembcorp Power Pte Ltd and Keppel Electric Pte Ltd are offering long-term fixed price plans to consumers with an average monthly consumption from 4MWh to 50MWh. These price plans come with a longer contract duration ranging from 6 months to 3 years, with the electricity rate for the 2- and 3-year contracts priced at 25 cents/kWh ^[1]. This is lower than the electricity rate for the Temporary Electricity Contracting Support Scheme (TRECS) of 39.9 cents/kWh for March 2022. The contracting window for these contracts is now open. We encourage eligible consumers without a retail plan to consider these contracts for greater price certainty.

3. Contracting details for the Temporary Electricity Contracting Support Scheme (TRECS) and other retail contract options, for the month of April 2022, will be made available at https://go.gov.sg/electricity-contracting-options next week. Consumers facing difficulty securing an electricity contract may contact EMA at ema_enquiry@ema.gov.sg for assistance.

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