There are 2 standard price plans that you can choose from:

1. Fixed Price Plan: Pay a constant rate (e.g. 20 cents/kWh) for electricity throughout your contract duration.

2. Discount Off the Regulated Tariff Plan: Enjoy a fixed discount off the prevailing regulated tariff (e.g. 20% off) throughout your contract duration.

You may wish to use the Price Comparison Tool at compare.openelectricitymarket.sg to compare the Standard Price Plans offered by electricity retailers.

Retailers may also offer non-standard price plans. These are plans where the electricity rates may not be all-inclusive and may change during the contract duration in accordance to the terms and conditions of the contract. They may also include recurring charges or fees, and retailers have the flexibility to decide on the pricing structure and contract duration. Please speak to an electricity retailer if you wish to find out more about such plans.

Retailers have the flexibility to vary their prices and business strategies, to adapt to current market conditions and the level of competition in the electricity market. They also have the flexibility to select the consumers they prefer to serve (e.g. large families, business consumers, etc.), to customise their price plans (e.g. by bundling other services/products) and to impose terms such as contract lock-in periods or early termination charges.

On the other hand, SP Group is required by the Government to supply electricity to all consumers in Singapore, including those who are not supplied by retailers for any reason. SP Group has no flexibility to pick and choose its customers, or to freely change its electricity prices, which are regulated by EMA to recover the long-term costs of producing and delivering electricity to consumers. SP Group also has to bear the risks from having an uncertain customer base, as it does not tie its customers down to any contract period or charge any early termination fees.

The methodology for determining the regulated tariff will remain unchanged.

With the Open Electricity Market, consumers can choose a price plan from any of the participating retailers that best suits their needs. This includes Standard Price Plans, namely Fixed Price Plans or Discount Off The Regulated Tariff Plans. Consumers can also choose to continue buying electricity from SP Group at the regulated tariff or purchase from the wholesale electricity market via SP Group.

The wholesale electricity prices (WEP) vary every half-hour depending on the prevailing demand and supply situation in the wholesale electricity market. It would typically rise with increasing electricity demand and/or outage of generating units. Consumers can refer to the chart below which shows the lowest and highest half-hourly wholesale electricity prices in 2019. For example, in the month of February 2019, the half-hourly prices ranged between 14.32 cents/kWh and 155.82 cents/kWh.

_{*Source: Energy Market Authority. Figures provide an equivalent charge per kWh under a WEP plan. Actual calculation of charges will be presented in detail in customers’ bills. Figures exclude Meter Reading and Data Management Charge ($2.18 per meter) and Vesting Debit/Credit (if applicable) for the quarter.}