The Open Electricity Market is an initiative by the Energy Market Authority (EMA) to enable you to buy electricity from a retailer at a price plan that best meets your needs.
You can benefit from competitive pricing, enhanced service standards and innovative offers from retailers.
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 will keep to their existing arrangement.
If your business or residential premises have postal codes starting with 60, 61, 62 63 or 64, you will get to choose who to buy electricity from, starting April 2018! Do look out for EMA’s Open Electricity Market information package in your mailbox in March 2018 for more information.
What Consumers in Jurong Need To Know About Open Electricity Market
1. With the Open Electricity Market, you can:
• Continue buying electricity from SP Group at the regulated tariff; or
• Switch to buying electricity from a retailer at a price plan that best meets your needs.
2. It is not compulsory for you to switch to a retailer. You can continue to buy electricity from SP Group at the regulated tariff as you do today. No further action is required.
3. It is easy to switch to a retailer if you wish to do so. Select your preferred price plan and your retailer will work directly with SP Group to perform the switch for you.
4. You will receive the same reliable electricity supply, no matter who you choose to buy electricity from. SP Group will continue to operate the national power grid and deliver electricity to everyone.
5. You will continue to be eligible for U-Save rebates regardless of which electricity retailer you switch to.
6. You can compare the standard price plans offered by different retailers using the price comparison tool on this website (available from 19 March 2018).
Guide to Open Electricity Market
With the soft launch of Open Electricity Market starting 1 April 2018, here’s a guide on how households and businesses in Jurong can enjoy more choice and flexibility in their electricity purchases.