Why are electricity providers in Singapore exiting the scene?

Singapore

ON Oct 13, Singapore's fourth-largest electricity retailer iSwitch Energy said it would cease retail operations from next month. iSwitch had a market share of some 13 per cent of Singapore's Open Electricity Market (OEM) as at end-April this year.

Two days later, Ohm Energy also headed for the exit. At least two other retailers for the household segment are contemplating doing the same.