Business and Money Tips

Following my article on 'How much can you really save?', many people have many questions about this OEM or Open Electricity Market.  Today I shall answer all of them, if you still have questions, please WhatsApp me Andy at 93672286.  1. What is this OEM Open Electricity Market? The OEM is an initiative by the Energy  Market  Authority (EMA) to enable households and businesses to buy   electricity   from a retailer with a price plan that best meets their needs. The launch of the OEM will provide consumers with more choices and flexibility in their  electricity  purchases. It simply means that the electricity market is now opened to allow more players, and customers to have choices.   This also means that previously the market is not open and is closed to one monopoly single supplier: Singapore Power (and its predecessor PUB) 2. Why the Singapore government suddenly opens this electricity market? The Singapore government did not sudde...

(updated on 30 Sep 2021) Note: The SP Group has increased the electricity tariff for this current quarter from Oct to Dec 2021 at 24.11 cents kWh (before GST).  One retailer Tuas Power Supply offers a low rate of 21.03 cents kWh, which is 13% lower than the SP tariff.  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 T he 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 16% if you opt for the Discoun...