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31 Oct 2018

Open Electricity Market: Which Company has the Best Rates? How Much Can I Save in 3 Minutes?

(updated on 15 Mar 2020)

Note: The SP Group has raised the electricity tariff for this current quarter Jan - Mar 2020 to 24.24 cents kWh, the highest level since Oct 2014.  One retailer Tuas Power offers a low rate of 16.8 cents kWh, 31% lower than SP rate. 

The question on everybody's lips is: how much can I really save when I switch my electricity supply from the current SP Group to any of the 11 licensed electricity retailers? 

The Facts First
The Energy Market Authority (EMA) has, since April 2017, been progressively opening up the retail electricity market, referred to as the Open Electricity Market (OEM). The purpose is to bring about competitive pricing for the benefit of all consumers.  NOW THE WHOLE SINGAPORE IS OPEN. 

From 1 May 2019 onwards, everyone is eligible to switch as the market is now fully opened for all. 

Reason To Switch: Save Money
You save guaranteed and confirmed 22% if you opt for the DOT plan (Discount over Tariff), which gives 22% off whatever rates you are paying now.  We have DOT plans ranging from 6 months to 24 months.
If you are more daring, you go for the fixed price plan, which means you can save 31% over the current rates under SP Group.  For example, in this current quarter Jan to Mar 2020, the SP rate is 24.24 cents kWh.  
One retailer Tuas Power Supply offers a fixed rate of 16.80 cents kWh for a 2-year or 3-year plan, this gives you a savings of 31% off the SP rate of 24.24 centsAll the rates here are before GST.
How much can you save? 
If your monthly electricity bill is $100 you get to save $31 a month or $372 a year.  Over a 3-year period, you get to save $1,116.  All it takes is just 3 minutes! 

To know how to switch, email to me Andy at or text to me at 9367 2286 now! Our team of electricity consultants will help you select the plan that saves you the most, plus rewarding you with CASH rebates of $80 (for the 3-years plan)

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