Wholesale electricity price a cheaper option for consumers? But experts say it depends on usage, market conditions

Consumers can find savings, but it depends on usage and market conditions, say experts

The wholesale electricity price is an alternative to the typical regulated tariff used by Singapore households which have not switched from SP to another retailer under the Open Electricity Market.
The wholesale electricity price is an alternative to the typical regulated tariff used by Singapore households which have not switched from SP to another retailer under the Open Electricity Market.PHOTO: ST FILE

Consumers looking for more bang for their buck have been exploring different retailers of electricity in the Open Electricity Market, but they can also consider buying electricity directly from the wholesale market through energy utilities provider SP Group.

It may be cheaper for consumers, but it comes with higher risks due to fluctuations in price.

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A version of this article appeared in the print edition of The Straits Times on October 30, 2019, with the headline 'Wholesale electricity price a cheaper option?'. Subscribe