All rights reserved We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. As of 1 May 2019, all residential households islandwide can make the switch to a desired OEM retailer of their choice and enjoy cost savings.Before we compare the different standard price plans offered by each retailer, it’s important to first understand how each works. Grounded by COVID-19, these pilots and cabin crew now educate the public on safe distancing. At the time, the Kingdom of Singapura was under the rule of Parameswara, who killed the previous ruler before he was expelled by the Majapahit or the Siamese. Singapore wants to soak up more energy from the sun, amid growing global awareness on how fossil fuels are contributing to climate change.By 2030, Singapore wants its solar capacity to be more than seven times as high as it is now, and increase the current 260 megawatt-peak (MWp) of installed solar capacity to 2 gigawatt-peak (GWp).This is enough to meet the annual power needs of around 350,000 households in Singapore, or about 4 per cent of Singapore's total electricity demand today.Currently, solar energy contributes less than 1 per cent to Singapore's total energy mix. Shop Now! With the impending launch of the Open Electricity Market (OEM) island-wide, Singapore households will be able to choose from 12 electricity retailers, each offering different plans.What does it mean to buy electricity from a company other than SP Group? Retailers, including SP Group, then buy electricity in bulk from the wholesale electricity market to supply to consumers.The electricity generated is then transmitted from the power plants and distributed across the island on the national power grid, which is also operated by SP Group.In other words, SP Group buys electricity in bulk from the power generation companies on behalf of Singapore households. By switching to a retailer with such a plan, you will enjoy immediate savings compared to sticking with SP Group.After you identified what seems like the best plan for you, you can visit the retailer’s website and download the Fact Sheet for the plan (or plans) that you have in mind. A version of this article appeared in the print edition of The Straits Times on October 30, 2019, with the headline 'Singapore to ramp up use of solar energy for power needs'.
For most of the plans, there is usually a security deposit required, and there are early termination and late payment fees you need to be aware of.As with all contracts, read the fine print carefully and ask the retailer to explain any of the terms and conditions that you are unsure of.In a bid to attract new customers, retailers have been offering referral discounts and other perks.
The company is also responsible for the infrastructure for reliable power delivery island-wide and billing households for electricity consumed.To ensure consumers are protected, prices that Singapore households pay is based on the tariff set by the Energy Market Authority (EMA), with the aim of being as low as possible while allowing SP Group to cover operational costs.The tariff is revised every quarter and consists of two parts: In effect, the tariff system insulates Singaporeans, to some extent, from the electricity production and purchase process, and from near-term price fluctuations due to the global oil market, since 95% of Singapore’s electricity supply is generated using imported natural gas.The Open Electricity Market (OEM) is part of EMA’s effort to liberalise the electricity market, allowing residential households in Singapore to buy electricity from retailers other than SP Group.Think of this as similar to how different telecommunication companies in Singapore such as SingTel, M1, Starhub and Circles.Life offer different price plans in order to attract different kinds of customers.On 1 April 2018, OEM was soft launched, allowing more than 100,000 Jurong households to choose their preferred electricity retailer and plan. Beyond price, retailers are also competing to value-add to their customers.For example, some retailers are offering free months of electricity, referral cashback, and other promotional rewards.As companies strive to differentiate themselves, we can look forward to even more offerings and perks, and to choose the one that makes the most financial sense for us.The introduction of OEM and the large numbers of retailers and plans should make Singaporeans more aware of the electricity market in Singapore and to take stock of their own consumption patterns.Being more conscious about when we use electricity, how much power our appliances are using, and areas of wastage will hopefully lead to more considered electricity use, saving both money and natural resources over time.The nationwide roll-out of the Open Electricity Market will be conducted in phases, based on location.
"This is important, as the cost of solar electricity in Singapore competes with conventional electricity, said Dr Reindl.He added: "For larger rooftop installations of more than 1 MWp, the cost of the generated solar electricity is already lower than the typical commercial electricity rates, and in many cases even lower than the wholesale market price. Solar panels on the rooftop of a block in Ang Mo Kio. This will involve 1.3 million mostly household accounts.