Open electricity market: How to save energy and money

The Energy Market Authority stated earlier this year that consumers who have switched out of buying electricity from SP Power to one of the 12 electricity retailers pay a rate that is about 20 to 30 per cent lower than the regulated tariff.
The Energy Market Authority stated earlier this year that consumers who have switched out of buying electricity from SP Power to one of the 12 electricity retailers pay a rate that is about 20 to 30 per cent lower than the regulated tariff.ST FILE PHOTO

About 34% of household consumers made switch, most on 24-month standard price plan

The nationwide roll-out of the Open Electricity Market (OEM) has been completed so consumers have the power to choose who to buy electricity from and potentially lower their power bills.

The roll-out started with a soft launch to households and businesses in Jurong in April last year and ended with the last zone in May, with around 1.6 million accounts or households connected.

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A version of this article appeared in the print edition of The Sunday Times on September 01, 2019, with the headline 'Open electricity market: How to save energy and money'. Print Edition | Subscribe