ES Power had decided to leave the residential market and concentrate on other parts of their business. Their customers will be transited to iSwitch as they have form a partnership with them. There will be no direct impact to the residential customers at this point of time.

Refer to the following for more information
https://iswitch.com.sg/iswitch-absorbs-es-powers-electricity-retail-business

ES Power customers can novate to iSwitch or stay on their current contract till the end of the agreement date. You can look for new electricity retail service providers once your contractual period is over. It is good to start looking early one month before it end so that you have ample time to decide.

You are going to enjoy at least 20% savings off the retail price depending on you choosing the discount of regulated tariff plan or fixed tariff price plan. It is only the amount of SAVINGS that you are going to maximise over the contract period.
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Reference Links
https://www.channelnewsasia.com/news/singapore/electricity-retailer-iswitch-take-over-contracts-es-power-11603316