The regulated tariff is the price charged by SP Group for supplying electricity to consumers. It is approved by EMA, and is based on a formula that takes into account the cost of producing and delivering electricity to consumers over the long term. It is adjusted quarterly to account mainly for changes in the price of fuel (i.e. natural gas) used to generate electricity.

EMA is the regulator which oversees the energy sector in Singapore. Its main goals are to ensure a reliable and secure energy supply, promote effective competition in the energy market, and develop a dynamic energy sector in Singapore. In Open Electricity Market, EMA will continue to promote fair competition while ensuring that consumers' interests are protected.

Households under the PAYU metering scheme will need to clear all outstanding arrears owed to SP Group before they can switch to a new retailer.

It is not compulsory for you to switch to a retailer. You can remain with SP Group to buy electricity at the regulated tariff if you prefer to do so.

With Open Electricity Market, you can choose to buy electricity from:
a. [Existing] SP Group at the regulated tariff.
b. [New] An electricity retailer at a price plan that best meets your needs

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, and there is no deadline for switching. No further action is required if you do not wish to switch.

SP Group will continue to:

• Sell electricity at the regulated tariff to consumers who remain with them, or consumers who are unable to be supplied by retailers for any reason;

• Provide services such as meter reading, meter data management, and facilitate customer transfers between retailers;

• Provide billing services for consumers whose retailers engage SP Group to do so; and

• Operate the national power grid, to ensure the same electricity supply is delivered to everyone.

In the past, consumers in Singapore could only buy electricity from SP Group at the regulated tariff. The Energy Market Authority (EMA) has been progressively opening up the electricity market to allow larger business consumers more choices and flexibility in their electricity purchases. With Open Electricity Market, the remaining 1.4 million consumer accounts in Singapore, mainly households, will also have the option to buy electricity from a retailer, and stand to enjoy competitive pricing and innovative offers from retailers.

Before you decide to switch to a retailer, you should shop around and compare the price plans offered by different retailers and choose one that best meets your needs and preferences.

You can visit https://compare.openelectricitymarket.sg to compare the standard price plans offered by retailers.

View more Q&As related to making the switch for residential consumers.

The intent has always been to eventually allow all consumers in Singapore to be able to enjoy more choices and flexibility when buying electricity. To roll out an initiative of this scale and impact, the Government has taken a phased approach to progressively open up the electricity market in Singapore to the remaining 1.4 million consumers, mainly households.