The Energy Market Authority (EMA) has progressively liberalised the electricity retail market since 2001, and today, around 35,000 commercial and industrial consumers - or about 80 per cent of electricity demand - enjoy flexibility and choice in their electricity purchases ("Customised price plans for electricity may not cut bill size" by Mr Chan Yeow Chuan, and "Keep things simple, affordable" by Mr Ben Chen Bin; both published on Oct 26, and "Many issues to consider before rolling out smart meters" by Mr Chan Yeow Chuan; last Thursday).
By the second half of 2018, the remaining small consumers (mainly households) will be able to choose their electricity retailer and price plan, allowing them to better manage their energy usage and costs.
Consumers' geographical location will not affect the pricing plans available to them. Consumers who wish to continue to buy electricity from SP Services at the regulated tariff may still do so.
To better protect consumer interests in a fully liberalised electricity market, we are putting in place safeguards and are working with industry stakeholders on an online platform where consumers can compare price plans across electricity retailers.
As we introduce full retail competition, EMA is conducting a trial with PUB and Singapore Power on smart meters to enhance productivity and provide consumers with timely information on their consumption.
This trial will help determine the costs and benefits of rolling out smart metering solutions on a wider scale, as well as the technical performance (including accuracy, security and safety) of the smart metering solutions.
Juliana Chow (Ms)
Corporate Communications Department
Energy Market Authority