Before you make the switch to buy electricity from a retailer, here’s what you need to consider as a residential consumer.
- Click on each step in the infographic to find out more.
Read the advisory for residential consumers here.
There are 3 standard price plans that you can choose from:
a. Fixed Price Plan
b. Discount Off the Regulated Tariff Plan
c. Peak and Off-peak Plan
Visit http://compare.openelectricitymarket.sg to compare the standard price plans offered by retailers:
a. Fixed Price PlanPay a fixed rate (e.g. 20 cents/kWh) for electricity throughout your contract duration.
b. Discount Off the Regulated Tariff PlanEnjoy a discount off the prevailing regulated tariff (e.g. 5%) throughout your contract duration. The regulated tariff is reviewed by SP Group quarterly, and approved by the Energy Market Authority (EMA).
c. Peak and Off-peak PlanEnjoy different rates during different periods (e.g. 25 cents/kWh for peak period, from 8am to 8pm; 15 cents/kWh for off-peak period, from 8pm to 8am). Check with your retailer on the peak and off-peak timings.
Retailers may also offer incentives as well as bundled services and products as part of their standard price plans.Retailers may also offer non-standard price plans, such as price plans which are indexed to the half-hourly Uniform Singapore Electricity Price or oil prices. Please speak to your retailer if you wish to find out more about such plans.
Billing ArrangementsRetailer may either bill you directly or via SP Group. Your billing arrangement will depend on the retailer whom you choose.
If your retailer bills you directly
If your retailer bills you via SP Group
You will receive two bills.
One bill is from your retailer for your electricity charges. You may need to set up new GIRO or credit card arrangements to pay for your electricity bill if necessary.The other bill is from SP Group for your non-electricity charges (water, town gas, refuse collection).
There will be no change to your current utility billing arrangement.
You will continue to receive one bill from SP Group for both electricity and non-electricity charges.
If you choose the Fixed Price Plan or Discount Off the Regulated Tariff Plan, you may not need a smart meter. You can continue to use your existing meter.
If you choose a Peak and Off-peak Plan, you may consider installing a smart meter for tracking your electricity consumption every half-hour. A meter installation fee of $40 (before GST) will apply.
Your last meter reading is required to make the switch. Your retailer will advise you on how and when to submit your meter reading. Alternatively, SP Group will estimate it for you.
Your contract can start as early as 5 business days after your retailer informs SP Group to make the switch.