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Open electricity market goes island-wide in stages from Nov 1

Final phase of the liberalisation of the electricity market will give 1.3 million households and businesses choice of 12 retailers

Singapore

THE open electricity market will be extended to all consumers in Singapore, zone by zone, starting from Nov 1, the Energy Market Authority (EMA) announced on Friday.

In this final phase of electricity market liberalisation, some 1.3 million household accounts and 67,000 business accounts will be given the option of buying electricity from any of 12 authorised retailers.

This follows the soft launch of the open electricity market in Jurong in April, involving 120,000 household and business accounts, of which more than 30 per cent switched. Households which switched paid an electricity rate 20 per cent lower than the regulated tariff on average.

The take-up rate in Jurong was higher than...

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