Keppel Electric leads power retail rivals to SP Services

Singapore

THE power play in Singapore's electricity retail market switched up further last year, with the incumbent SP Services losing more grip over market share, even as stalwart Keppel Electric gained ground to emerge as the largest retailer among the challengers to SP's dominance.

The National Electricity Market of Singapore (NEMS) Market Report 2018, put out by wholesale electricity market operator Energy Market Company (EMC), said that even the smallest electricity retail players - those with a market share of under 3 per cent each - grew their share of the pie amid "robust" competition. Their joint market share has grown from 1.5 per cent in 2016 to 4.1 per cent in 2017 to the current 5.3 per cent.