Singapore's largest independent electricity retailer iSwitch powers down

IN what marks a big blow to Singapore's liberalisation of the power sector, iSwitch Energy, the city-state's largest independent electricity retailer, has decided to bow out from retail operations from next month.

The retailer cited the current market conditions behind the decision to cease its retail operations on Nov 11. "Over the past 6 years, iSwitch has had the privilege of serving the Singapore electricity market and collectively saving consumers over S$150 million on their energy bills against the SP tariffs...

"We have also helped maintain focus on sustainability and the green goals... Unfortunately, due to current electricity market conditions, we will be ceasing our electricity retail operations on Nov 11," said the retailer in a note to customers.