SINGAPORE: Starting November, all 1.4 million electricity consumers in Singapore will have the option of choosing their preferred electricity price plans from as many as 12 providers.
With the nationwide rollout of the Open Electricity Market, consumers will no longer have to buy electricity from SP Group at a regulated tariff that is reviewed quarterly. This option, however, remains available to consumers if they do not wish to switch, said the Energy Market Authority (EMA) on Friday (Sep 21).
The roll-out will be done in stages, beginning Nov 1 with households and business accounts that have postal codes starting with the numbers 58-78. This includes districts in Choa Chu Kang, Yishun, Sembawang and Upper Bukit Timah.
This will be followed by the adjacent geographical zones that have postal codes starting with 53-57, 79-80, 82-83 next January, 34-52 and 81 from March, and lastly, the zone with postal codes starting with 01-33 from May.
Prior to the roll-out, consumers will receive a notification package and information booklet. Consumers can also compare the price plans by visiting http://compare.openelectricitymarket.sg.
The zonal rollout will allow the EMA and electricity providers to focus their efforts on engaging and educating consumers, and help them understand their options before making a decision, said the EMA.
A “good mix” of independent retailers and those with power-generation assets will be involved in the nationwide launch, said the EMA. They include Geneco, Keppel Electric, Sembcorp Power, and independent retailers like ISwitch and Ohm Energy.
Currently, only consumers in Jurong – comprising 108,000 households and 9,500 businesses – can choose their electricity price plan from more than 10 retailers under a pilot programme launched on Apr 1.
Read more at: https://www.channelnewsasia.com/new...ce-plans-choose-open-market-sp-group-10743764
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