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M1 rolls out mobile consumer discounts for Jurong residents who switch to Keppel Electric in Open Electricity Market pilot

Valuations given for M1 ranged widely from S$1.58 to S$2.74, while the stock closed at S$2.17 on Monday.

TELCO M1 has announced more details of its collaboration with energy retailer Keppel Electric, which it first disclosed on Monday.

Consumers can sign up for Keppel Electric's packages at the M1 Shop in IMM Jurong and enjoy discounts on new handsets or data plans during the soft launch of the Open Electricity Market (OEM), the telco said on Friday.

Both new and recontracting mobile customers can choose, from Saturday, between a discount of S$80 on Samsung Galaxy S9 and S9+ phone models, or six months of free "upsized" data that would normally be worth S$35.40.

M1 chief marketing officer P Subramaniam said in a statement: "We are delighted to partner Keppel Electric to offer our customers greater value and flexibility in the liberalised energy market.

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"We look forward to working closely with Keppel Electric to provide new service development and product bundling for its provision of its electricity offerings in this town and nationwide in time to come."

The telco's joint product bundling is the second tie-up with Keppel Electric that has been unveiled since marketing for the OEM kicked off on Monday.

Lender DBS said on Tuesday that it will partner two energy retailers - iSwitch and Keppel Electric - to let Jurong residents search for price plans through its digital banking app.

Keppel Electric, a subsidiary of Keppel Infrastructure, is offering six different residential plans ranging from packages with discounts off the SP tariff rate, to pricing options with a lower fixed rate for off-peak consumption.

General manager Janice Bong said of the tie-up: "Since last August, we have collaborated with M1 on utilities metering solutions using M1's NB-IoT network to track customers' energy usage more efficiently.

"Today, with the OEM Jurong soft launch, we are happy to partner with M1 again so that residential consumers can sign up conveniently at M1 stores and also enjoy exclusive bundled offers."

Come April 1, households with postal codes 60 to 64 - or residents of Jurong East, Jurong West, Tuas, Pioneer and Boon Lay - will be able to buy their electricity from a provider of their choice, other than the national SP Group.

The OEM will eventually be rolled out islandwide, in the second half of 2018, the Energy Market Authority has said.