Cheapest Electricity Provider Singapore

Cheapest Electricity Provider Singapore – Making Electricity More Affordable 

Electricity is an essential service for humankind these days. No one can imagine life without appliances like refrigerators, televisions, fans, and a lot more. But, the increasing number of appliances running on electricity means increasing bills.

Earlier, there was one major retailer in the Singaporean electricity market – the SP Group. However, it charges customers a price based on a tariff. With GST added, the price goes up even higher. It is the reason why the Energy Market Authority (EMA) of Singapore deregulated the electricity market.

How is the electricity market of Singapore deregulated? 

To liberalize or deregulate the electricity market, EMA introduced the open electricity market (OEM). It allows households in Singapore to purchase electricity from retailers other than SP Group. SP Group continues to sell electricity at tariff-based prices for those who haven’t utilized the OEM yet.

The introduction of OEM has led to the rise of some of the cheapest electricity provider singapore has been availing services from. With more options in hand, customers have the scope to save some dimes. Moreover, healthy competition in the market is a catalyst in innovation.

Cheapest Electricity Provider Singapore


Comparing the players in the electricity market on different parameters 

With multiple retailers in the market, they can find the cheapest electricity provider Singapore and save money.

In terms of prices:

  1. The SP Group provides the cheapest plan with no fixed contract.
  2. Sembcorp Power has the cheapest plan for a fixed period of 6 months.
  3. For a fixed plan of 1,2, and 3 years, Senoko Energy has the lowest prices.
  4. In terms of discounts on the regulated tariff plans:
  5. Keppel Electrics has the cheapest plan with no fixed contract or a short contract of 3 months.
  6. Tuas Power has the cheapest plan for a fixed period of 6 months.
  7. For a fixed plan of 1 and 2 years, Senoko Energy has the lowest prices.

The open electricity market has led to much-needed competition in the electricity market in Singapore. Apart from a subsidized price, it has also why people are becoming more aware of how they are consuming electricity. It is ultimately expected to help customers consume electricity more responsibly. Along with savings from customers, OEM is also giving a fair chance to retailers other than SP Group. It makes the open electricity a breath of fresh air in the forest of concrete and helps in lighting up more homes.