All retailers are required to conduct fair marketing and contracting practices, in accordance with the Code of Conduct for Retail Electricity Licensee ("the Code"). The Energy Market Authority (EMA) will not hesitate to take action against any retailers for non-compliance of the Code.
Important Points to Take Note
1. You should only buy electricity from retailers participating in the Open Electricity Market.
Small businesses can only buy from participating retailers in Open Electricity Market.
Business consumers who are currently eligible to switch to a retailer can buy from any licensed electricity retailer.
2. You can switch back to buying electricity from SP Group at the regulated tariff.
Businesses with an average monthly consumption of less than 4,000 kWh (equivalent to monthly electricity bill of $800 or lower) can switch back to buying electricity from SP Group at the regulated tariff. Please check with your retailer on any early termination charges or other fees before switching back.
3. Your business can opt out of receiving marketing or promotional messages from electricity retailers:
Businesses can register in our Contact Opt-Out form to be placed in the Do Not Contact List.
Your privacy is important. If you receive any unsolicited calls, messages or visits by a retailer, inform EMA at email@example.com or call 6835 8000.
4. Your electricity supply will not be disrupted should your retailer exit the electricity market.
Your electricity supply will not be disrupted in the event that your retailer exits the market. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone.
If your retailer is going to exit the market, they are required to find another retailer to take over your account on the same terms and conditions. If they are unable to find a replacement or if you reject their proposed transfer, you will buy electricity under the one of the following options depending on your consumption level:
If your average monthly consumption is less than 4,000kWh, you will buy electricity at the regulated tariff; and
If your average monthly consumption is at least 4,000kWh, you will buy electricity from the wholesale electricity market at the wholesale electricity price through SP Group. You may refer to the Energy Market Company’s website (www.home.emcsg.com) for more details on the wholesale electricity price.
You are also not required to pay any early termination charges, and your security deposit (if any) will be refunded to you. Your retailer will make the refund after any outstanding charges owing to them have been deducted.
If you wish to switch to another retailer, contact your new retailer, who will work directly with SP Group to make the switch for you.
Wholesale Electricity Prices
The Wholesale Electricity Price (WEP) varies every half-hour, depending on market demand and supply conditions. The WEP would typically rise due to reasons such as an increase in electricity demand or an outage of power generating units. This makes buying electricity at the WEP a riskier option as the electricity rate is uncertain and potentially volatile.
Switching to buy electricity from a retailer under a Standard Price Plan provides more price certainty than buying at the WEP. You can start by comparing the Standard Price Plans offered by retailers using the Price Comparison Tool.