Open Electricity Market | Electricity Rates Going Up in 2019

Begin 1 November 2018, the Open Electricity Market was rolled out progressively to all consumers across Singapore by zones. This initiative allows more than a million households and business accounts to have the flexibility when buying electricity, while being provided with the same electricity supply through the national power grid.

It is not compulsory to switch to a retailer and there is no deadline for switching.

Consumers who wish to remain with SP Group and buy electricity at the regulated tariff can continue to do so, and no action is needed on their part.

Though wholesale electricity prices are low, rates are expected to increase slightly for residential end-users. The U.S. Energy Information Agency (EIA) is estimating that the annual growth in residential electricity prices will be 1.2% in 2019.

Make a comparison today and choose your electricity provider according to your needs.

Some related articles: