Cost Savings with Liberalisation of Electricity Market for Jurong Region

Ms Foo Mee Har asked the Minister for Trade and Industry with liberalisation of the electricity market for the Jurong region since 1 April 2018 (a) how many eligible households have opted to switch from buying electricity from SP Group; and (b) what is the average cost savings experienced by these households who chose the alternative providers.

Mr Chan Chun Sing: The Energy Market Authority (EMA) introduced the Open Electricity Market in Jurong in April 2018, providing around 120,000 households and small businesses with the choice to buy electricity from a retailer with a price plan that best meets their needs. Consumers who do not wish to switch to a retailer can remain with SP Group and continue buying electricity at the regulated tariff, and there is no deadline for switching.

This soft launch has gone well. As of mid-September 2018, more than 30% of Jurong households have switched to a retailer. These households are paying an average electricity rate that is 20% lower than the regulated tariff. EMA will progressively extend the Open Electricity Market to the rest of Singapore from 1 November 2018.