Singapore

Open Electricity Market Update 1

Open Electricity Market (OEM) is now open for registration for Jurong to Yishun consumers!

Timeline of rollout:
Apr 2018: Jurong – Postal  60,61,62,63,64
Nov 2018 : Bt Batok, Bt Timah, Woodlands, CCK-Yishun-Sembawang- Postal 58-78
From Jan 2019: Postal codes 53-57, 79-80, 82-83
From Mar 2019: Postal codes 34-52, 81
From May 2019: Postal codes 01-33

Please read the following Facts
#1 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.

#2 Electricity is produced by the power generation companies. SP Group then transmits and distributes it to consumers through the national power grid. Your electricity supply stays the same whether you switch to a retailer or not. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone.

#3 Read the fine prints before signing up, some retailers charge miscellaneous fees such as retail service fee or paper bill fee. Please DO read very carefully before signing up and read the fine prints!

#4 The SP current tariff are as below:
** Prices are before GST 7%**
S$0.2413/kWh – 2018 Oct-Dec
S$0.2365/kWh – 2018 Jul-Sep
S$0.2215/kWh – 2018 Apr-Jun

#5 Before you decide on which retailer, first ask yourself do you want to receive the same SP paper bill even after switching to a retailer? Some retailers has SP integrated paper bill while the rest uses own e-billing. Retailers that use SP integrated billing are Ohm, Tuas Power, Red Dot Power and Best Electricity. 

Price Comparisons between retailers

Ohm Energy
1) [Fixed Ohm] Fixed $0.1695/kWh (24mth) | $0.1830/kWh (12mth) | $0.1870/kWh (6mth)
2) [Simply Ohm] Fixed $0.1675/kWh +$10/mth (No contract)
3) [Market Ohm] Wholesale USEP + third-party charges (no contract)
4) [Discount Ohm] 20% off (6mth) | 22% off (12mth)
^PM me for Ohm promo code to receive $20 credits for bill rebate.

Geneco
1) [Good Night] $0.145/kWh off peak (12am-6am) / $0.215/kWh peak (6am-12am) (24mths)
2) Fixed $0.181/kWh (12mths) | $0.168/kwh (24 | 36 mths)
3) Discount 21% off (24mths)
4) Trial Discount 23.8% off (6mths)

Keppel Electric
1) DOT: 21% (24mth)  
2) Fixed: $0.168/kwh (24mths) | $0.173/kwh (12mths) | $0.176/kwh (6mths)
3) Knight: (Peak: 7am-11pm; $0.1880/kwh) / (Off-Peak: 11pm-7am; $0.1538KWh (24mths)

Tuas Power
1) Fixed $0.168/kWh (36mth) | $0.18/kWh (25mths | 18 mths)
2) 21% (24mth) | 18% (6mth)
3) [Peak Periods (7am-7pm)20.2 cents/kWh] [Off-Peak Periods (7pm-7am)
19.0 cents/KWh]

Best Electricity (Prime)
1) Cash rebate (3mths avg usage*$1.07). Price same as SP Tariff (24mths)
2) 21 off (24mths) | 15% off (12mths)
3) Fixed $0.181/kWh (24mth)

Sembcorp Power
1) Fixed $0.1735/kwh (12mth) | $0.168/kwh (24mth)
2) 21% discount (12mth) | 21.8% discount (24mth)
3) Flat Fee 450 (12 mth) – $79.90/mth @ 450kwh (10% off thereafter)
4) Flat Fee 450 (24mth) – $76.90/mth @ 450kwh (10% off thereafter)
5) Flat Fee 300 (12mth) – $52.90/mth @ 300kWh (10% off thereafter)

iSwitch
1) 21% Discount (24mth) | 20% (12mth)
2) Free iPad & 5% Discount (36mths)
3) Fixed $0.172/kWh (24mth)
4) Fixed $0.169/kWh first 3 mths, thereafter $0.18083/kWh for 21 mth (24mths)

PacificLight
1) 21% discount (24mth & 12 mth)
2) $0.1679/kWh (24mth) | $0.1783/kWh (12mth)
3) Peak 16%, Off-Peak 26% (12mth & 24mth) 
*peak 7am – 11pm
off-peak 11pm – 7am

Senoko Energy
1) 14.5% Discount (12mth) | 17.25% Discount (24 mth)
2) Fixed $0.177/kWh (12mth) | $0.1677/kWh (24mth)

Sunseap
1) Discount (6mth) [23%]
2) Discount (12mth) [23% 1st 6mth, next 6 mth 16.2%]
3) Discount (24mth) [25% 1st 6mth, next 18 mth 19.1%]
4) Fixed (6 mth) [$0.1685/kWh)
5) Fixed (12 mth) [$0.1685/kWh 1st 6mth, next 6 mth $0.2042/kWh]
6) Fixed (24mth) [$0.1685/kWh 1st 6mth, next 18 mth $$0.1928/kWh]

Union Power
1) Fixed $0.1757/kWh (24mth)
2) Discount 21% (24 mth)

Diamond Electric
1) Discount 22.5% (12mth) | 20.5% (6mth)

ES Power Singapore
1) Fixed $0.174/kWh (12mth)
2) Fixed $0.176/kWh (24mth)

Retailers that are only serving the Jurong market
Red Dot Power
Sun Electric
Hyflux Energy
**they do not accept new sign ups

Retailers that exited residential market
Sunseap-Starhub

—————
Updated as of: 9 Dec 2018
Information extracted from Hardware Zone Forum (Jurong640)
https://forums.hardwarezone.com.sg/eat-drink-man-woman-16/open-electricity-market-oem-part-2-a-5928874.html

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