Power liberalisation: User experience is key
The Open Electricity Market creates tons of opportunities for energy providers to offer bundled packages of services to consumers, but these need to be easy to understand.
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In the final quarter of 2018, Singapore will take the final step in its Open Electricity Market (OEM) journey, which began in 2001, to fully liberalise the energy market for all customers. For the first time, consumers in Singapore can decide on the electricity provider that best meets their needs.
In the soft launch in April, some 108,000 households and 9,500 businesses in Jurong had the option of buying electricity from a retailer of their choice. SP Group will continue to operate the national power grid, and customers can therefore expect uninterrupted and reliable electricity supply regardless of the provider.
Providing each Singaporean potential commercial benefits, this move is likely to create tremendous opportunities for cross-sector collaboration in consumer services.
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