Singapore's Retail Electricity Market
Since 2001, the Energy Market Authority (EMA) has progressively opened up the retail electricity market to competition, to bring about competitive pricing, enhanced service standards and innovative offers from retailers, for the benefit of consumers.
Currently, business consumers with an average monthly consumption of at least 2,000 kWh (equivalent to a monthly electricity bill of at least $400) are eligible to choose their electricity provider. They can buy electricity from a retailer of their choice at a price plan that best meets their needs, buy from the wholesale electricity market or remain on the regulated tariff rate.If you are a business consumer, find out if you are currently eligible to exercise your choice here.
Soft Launch of Open Electricity Market in Jurong
Starting 1 April 2018, EMA will commence the soft launch of Open Electricity Market (previously referred to as Full Retail Competition), where households and businesses in Jurong can choose to buy electricity from a retailer with a price plan that best meets their needs. This will provide consumers with choice and flexibility in their electricity purchases.
Consumers who wish to continue buying electricity from SP Group at the regulated tariff can choose to do so.
A total of 108,000 residential accounts and 9,500 business accounts will be able to exercise this choice. The soft launch will involve consumers whose premises have postal codes starting with 60, 61, 62, 63 or 64. EMA will be mailing an information package to Jurong consumers in March 2018.
Open Electricity Market in the second half of 2018 In the second half of 2018, Open Electricity Market will be extended to the rest of Singapore, allowing the remaining 1.3 million accounts (mainly households) to choose who they wish to buy electricity from. Those who prefer to buy electricity at the regulated tariff from SP Group can continue to do so.
Classification of Consumers
Consumers can be classified according to these types.
Small consumers are business consumers with an average monthly consumption of less than 4,000 kWh and all residential consumers.
Large consumers are business consumers with an average monthly consumption of at least 4,000 kWh.
Contestable consumers are consumers who choose to buy electricity from a retailer of their choice or from the wholesale electricity market at the half-hourly wholesale electricity price.
Non-contestable consumers are consumers who choose to buy electricity from SP Services, a member of SP Group, at the regulated tariff.