More power bill sticker shock ahead as open electricity market retail rates now close to SP tariff

EMA warned that consumers will likely see higher electricity prices when they renew or sign up for new price plans.
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SINGAPORE - For the first time since the electricity market in Singapore was fully liberalised in 2018, the fixed-price plan rates offered by some retailers are looking less competitive vis-a-vis national utility SP Group.

Potential savings of up to 30 per cent on power bills that were once offered by more than 12 open electricity market (OEM) retailers are no longer a perk for those renewing or signing up for new price plans, due to surging wholesale electricity prices.

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