SINGAPORE - Telco M1 and electricity retailer Keppel Electric have tied up to offer power plans islandwide from Thursday (Nov 1), as part of a phased expansion of the open electricity market.
Customers will be offered exclusive offers and bundled discounts when they sign up for electricity plans at any M1 shop, they said in a joint statement.
The expansion of the open electricity market comes after a successful soft launch in April in Jurong, which has allowed the Energy Market Authority to fine-tune the initiative. It will cover the entire country by May.
During the soft launch, eligible customers were able to buy electricity plans offered by Keppel Electric at IMM Jurong's M1 shop.
From Thursday, about 350,000 households and firms in areas with postal codes starting with 58 to 78 - such as Woodlands, Yew Tee and Bukit Gombak - will be able to switch from SP Group to other electricity retailers, as part of the first phase of the nationwide roll-out. They can pick of a list of 13 retailers.
M1 chief marketing officer P. Subramaniam said: "Capitalising on M1's extensive customer reach in Singapore and Keppel Electric's strong brand proposition in the local electricity market, this joint collaboration in the liberalised energy market will provide greater value and convenience to both our customers."
Ms Janice Bong, general manager of Keppel Electric, said that the Jurong soft launch was well-received.
"We are delighted to deepen our partnership with M1 to launch a new series of exclusive and exciting bundled offers for the coming OEM launch," she said.
New and M1 customers who would like to recontract can enjoy benefits when they sign up for Keppel Electric's electricity plans. They include complimentary fibre broadband subscription and discount for Samsung Galaxy Note 9.
Existing M1 customers who sign up for the plans through M1 can enjoy $30 bill rebate or complimentary upsized data for six months.
To entice customers, other retailers have offered a variety of freebies and unique packages.
iSwitch, for instance, will give customers a complimentary iPad if they sign up for its iPromo price plan.