open electricity market

What is the Open Electricity Market?

Started by the Energy Market Authority (EMA) in 2001, the OEM allows consumers, like yourself, to buy electricity plans from SP or retailers. This means you will get to enjoy competitive pricing, enhanced services, and innovative offers from our retailers.

Following the soft launch in Jurong, OEM will be progressively extended to the rest of Singapore till May 2019. Find out your eligibility above and keep a lookout for the best plans.

 

Switching with ELECTRIFY.SG

ELECTRIFY.SG presents you the simplicity to compare and select electricity plans that best suits your needs. Enjoy guaranteed savings every month and perks offered by electricity retailers, simply by switching with ELECTRIFY.SG.

Leave us your contact details and we will keep you updated with customised offers from some of the best retailers in Singapore.

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FAQs

A: We are a marketplace for consumers to compare and search for suitable electricity plans according to your needs and preferences. This means that the power plans you find on our platform will come with the full explanation of contract terms, termination clauses with no hidden charges. To protect your interest, we will point out anything you should be aware of before you enter a contract.

A: The most apparent benefit is cost savings. Typical savings that most businesses on our platform experience is between 25% and 30% from the SP tariff. Residential consumers, on the other hand, can expect to save up to 20% off their current electricity bills.

A: Yes! Your electricity comes from the main grid. There will not be a change in the stability of power delivered to your home.

A: Retailers buy power from the wholesale electricity market and sell them to consumers. SP Services has a slightly different cost structure in that they have agreements with some of the power producers. This results in a price difference between the two.

A: Your retailer will likely* send you a separate bill for electricity. Your bill for water, and refuse will still come from SP.

*Some retailers may work with SP to include their charge on your SP bill.

A: SP Group, like SMRT and Singtel, is currently privatised and is a for-profit. The reliability of power supply is the same whether you stay with SP or with a retailer.

A: Contract terms vary from retailer to retailer. For business consumers, most contracts are either 1 or 2 years, whereas residential consumers can expect shorter-term contracts, with some as short as 6 months.

A: Yes. Do check out our site for more information.

A: The EMA has announced that the rollout will occur in phases, starting from November 2018. Refer to the rollout schedule above to check the launch date for your geographical zone.

A: You can switch easily by simply contracting with a retailer, with your necessary documents ready in hand.

If you’re currently with SP Services, it will take 4 to 6 weeks. If you’re currently with a retailer, switching will take at least 10 working days.

Once the switch is done, you’ll be informed by your new retailer.

To learn more about how to switch, click here.