Electricity retail market to be fully open by 2018

Singapore

SINGAPORE'S electricity market will be fully liberalised by 2018, with all consumers including households being able to choose their own electricity retailers, said Minister for Trade and Industry (Industry) S Iswaran on Monday.

The Energy Market Authority (EMA) is working with industry stakeholders to fully open the electricity retail market to competition in the second half of 2018, Mr Iswaran said at the Singapore International Energy Week (SIEW). This will give 1.3 million more consumers, mainly households, flexibility and choice in their electricity consumption, he added.

"This is an important step for us in Singapore because we have progressively increased the scope of contestability competition in the retail market for electricity, and today consumers who have 2 MWh consumption or mo…