SP Energy HubAnnual ReportReliabilitySustainabilityInnovation SP Group awarded BCA grant to power next-gen green buildings INNOVATION SP Group (SP) was awarded a grant by the Building and Construction Authority (BCA) to develop and implement technologies and digital solutions to push the limits of buildings’ energy efficiency standards. The grant was awarded under the Green Buildings Innovation Cluster (GBIC) Programme -  one of the enablers of the Singapore Green Building Masterplan, as part of the Singapore Green Plan 2030. A screen grab of the dynamic online digital portal Under GBIC funding, SP Group will pilot a dynamic online digital portal and an artificial intelligence (A.I.) powered mobile application tool to provide real-time electricity and water usage insights to both occupants and building facilities managers. Building occupants will also be equipped with an “At Work” function of the SP Utilities App to encourage them to achieve a more sustainable lifestyle. Sustainability App function - How it works The National University of Singapore’s (NUS) University Town (UTown) will be the first development to have these digital solutions implemented under this programme. The solutions will be piloted at two buildings at UTown – the Education Resource Centre and the Stephen Riady Centre – and will be installed in the first half of 2022. Read more in the media release. - 16 June 2021 TAGS INNOVATION YOU MIGHT BE INTERESTED TO READ SP partners Pyxis to launch direct-current fast charging point for electric harbour crafts Using GET™ to help Mercatus digitally manage their tenant utilities SP Group is partnering Mercatus Co-operative Limited to deploy SP Digital’s Green Energy Tech (GET™) solutions to Mercatus’ properties. Developing the digital core of sustainable energy solutions From coding to designing systems, Ibrahim develops and manages all the central platforms and systems that power the SP Utilities app, commercial solutions, and internal projects for SP.

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 HDB 1-Room 146 144 135 126 126 132 150 152 149 140 151 148 HDB 2-Room 190 188 176 164 167 173 199 199 195 183 198 192 HDB 3-Room 274 269 247 236 241 250 292 285 277 264 283 277 HDB 4-Room 374 370 342 321 330 342 398 396 383 360 385 381 HDB 5-Room 437 436 401 367 381 399 463 466 448 416 447 446 HDB Executive 541 530 478 456 474 489 575 568 544 515 546 548 Apartment 537 541 483 430 435 486 578 573 543 500 513 539 Terrace 890 881 804 740 794 821 957 900 872 838 847 885 Semi-Detached 1,187 1,174 1,065 1,019 1,038 1,109 1,254 1,224 1,170 1,128 1,126 1,168 Bungalow 2,308 2,358 2,075 2,106 1,951 2,146 2,432 2,360 2,266 2,220 2,121 2,347 Note: The figures exclude electricity consumption for PAYU customers and customers who are not purchasing electricity at the regulated tariff.

Consumption_Water Average consumption of Water (CuM) Premises Types Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 HDB 1-Room 7.8 7.8 7.8 7.2 7.8 7.8 8.1 7.8 8.1 8.0 7.8 7.9 HDB 2-Room 9.0 9.0 9.1 8.4 9.0 9.0 9.1 9.0 9.3 9.2 8.8 9.1 HDB 3-Room 12.0 11.9 12.0 11.2 12.0 12.0 12.1 11.8 12.2 12.3 11.9 12.0 HDB 4-Room 15.1 14.9 15.2 14.3 15.3 15.1 15.4 14.9 15.4 15.6 15.1 15.3 HDB 5-Room 16.4 16.1 16.7 15.8 16.8 16.5 16.8 16.2 16.9 17.1 16.6 16.8 HDB Executive 18.1 17.9 18.7 17.8 18.8 18.4 18.7 18.2 18.8 19.2 18.4 18.8 Apartment 13.3 12.8 13.0 12.7 13.7 13.5 13.4 12.8 13.3 13.9 13.7 13.7 Terrace 25.6 24.7 25.7 24.7 25.7 25.1 25.6 25.1 26.1 26.5 26.0 26.0 Semi-Detached 30.9 30.4 30.6 29.8 31.0 30.4 30.9 30.5 32.0 32.5 31.1 31.6 Bungalow 50.2 49.8 49.4 48.6 51.5 48.4 49.7 49.3 50.9 53.6 49.6 52.7

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 HDB 1-Room 143 146 144 135 126 126 132 150 152 149 140 151 HDB 2-Room 189 190 188 176 164 167 173 199 199 195 183 198 HDB 3-Room 269 274 269 247 236 241 250 292 285 277 264 283 HDB 4-Room 367 374 370 342 321 330 342 398 396 383 360 385 HDB 5-Room 427 437 436 401 367 381 399 463 466 448 416 447 HDB Executive 528 541 530 478 456 474 489 575 568 544 515 546 Apartment 515 537 541 483 430 435 486 578 573 543 500 513 Terrace 859 890 881 804 740 794 821 957 900 872 838 847 Semi-Detached 1,150 1,187 1,174 1,065 1,019 1,038 1,109 1,254 1,224 1,170 1,128 1,126 Bungalow 2,298 2,308 2,358 2,075 2,106 1,951 2,146 2,432 2,360 2,266 2,220 2,121 Note: The figures exclude electricity consumption for PAYU customers and customers who are not purchasing electricity at the regulated tariff.

Media Release Leadership Change at SP Group Singapore, 16 March 2020 - SP Group (SP] today announced that Mr. Wong Kim Yin, Group Chief Executive of SP Group, will be leaving SP to join Sembcorp Industries Ltd as Group Chief Executive Officer on 1 July 2020. The SP Board of Directors has appointed Mr. Stanley Huang Tian Guan, Chief Financial Officer of SP Group, and Chief Executive Officer of SP International, as Group Chief Executive Officer, effective 1 July 2020. Kim Yin and Stanley will work together to ensure a smooth transition. Tan Sri Mohd Hassan Marican, Chairman of SP Group, said: "On behalf of the Board, I would like to thank Kim Yin for his outstanding leadership during his eight years with us. He has transformed the group amidst an evolving landscape and embedded innovation and sustainability in the company's DNA. With Stanley taking over the helm, I look forward to working with him as he leads the team in charting SP's next phase of growth." Stanley has 25 years of experience in international business management and finance. Stanley is also director of several SP companies including SP Services Limited, SP PowerAssets Limited, SGSP [Australia) Assets Pty Ltd and Singapore Power International Pte Ltd. Prior to joining SP, Stanley was the Global Chief Financial Officer of Volvo Construction Equipment. About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.6 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG.

Consumption_Gas Average consumption of Gas (kWh) Premises Types Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 HDB 1-Room 35 35 34 35 34 34 39 36 39 35 36 31 HDB 2-Room 36 36 34 35 35 35 37 35 38 37 36 33 HDB 3-Room 51 51 49 50 49 49 51 49 52 50 50 47 HDB 4-Room 62 63 61 62 60 60 63 62 65 62 62 58 HDB 5-Room 69 70 68 69 66 65 70 70 72 68 68 64 HDB Executive 72 74 72 73 69 68 75 74 77 73 72 69 Apartment 82 86 88 88 85 84 92 93 95 87 84 76 Terrace 98 105 107 108 108 99 108 107 107 103 105 96 Semi-Detached 115 120 117 120 117 115 124 121 123 117 120 116 Bungalow 185 198 206 202 179 195 192 202 205 195 186 188

News & Media Releases Latest All Years 29 Oct 2023 Malee Group Partners SP Group to Power Green Energy Transition for Manufacturing Facility 24 Oct 2023 SP Group conferred highest accolade at Community Chest Awards 2023 23 Oct 2023 Leveraging Digital Solutions to Future-Proof Singapore’s Energy Grid 23 Oct 2023 New Residential Demand Response Pilot to Empower Households to Reduce Electricity Consumption during Demand Peaks 04 Oct 2023 SP Group and Tenaga Nasional Berhad embark on feasibility study for a second power interconnection between Singapore and Peninsular Malaysia to enable energy transfer 03 Oct 2023 SP Group Holds Its First Volunteers Festival, Launching Toolkit to Enlarge Its Volunteering Footprint 28 Sep 2023 Electricity Tariff Revision For The Period From 1 Oct to 31 Dec 2023 24 Sep 2023 SP Group Secures First District Cooling Project in Thailand under Joint Venture with Banpu NEXT 07 Sep 2023 Record S$700,000 raised at SP Charity Golf 2023 23 Aug 2023 SP Group Partners Frasers Property Vietnam To Bring Integrated Smart, Clean Energy Solutions To Binh Duong Industrial Park 1 ... 6 7 8 ... 22

Consumption_Elect Average consumption of Electricity (kWh) Premises Types May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 HDB 1-Room 142 152 147 145 143 146 144 135 126 126 132 150 152 149 140 151 148 139 142 128 127 121 119 128 HDB 2-Room 185 202 190 190 189 190 188 176 164 167 173 199 199 195 183 198 192 183 186 166 168 161 156 169 HDB 3-Room 270 288 271 272 269 274 269 247 236 241 250 292 285 277 264 283 277 266 266 243 238 231 231 250 HDB 4-Room 367 391 371 371 367 374 370 342 321 330 342 398 396 383 360 385 381 363 365 338 327 320 309 341 HDB 5-Room 428 456 437 434 427 437 436 401 367 381 399 463 466 448 416 447 446 427 429 397 379 374 359 399 HDB Executive 528 561 531 536 528 541 530 478 456 474 489 575 568 544 515 546 548 520 523 481 462 458 445 495 Apartment 543 585 546 514 515 537 541 483 430 435 486 578 573 543 500 513 539 523 519 486 446 419 417 476 Terrace 867 902 868 866 859 890 881 804 740 794 821 957 900 872 838 847 885 851 851 785 747 744 714 775 Semi-Detached 1,182 1,233 1,159 1,134 1,150 1,187 1,174 1,065 1,019 1,038 1,109 1,254 1,224 1,170 1,128 1,126 1,168 1,137 1,141 1,056 1,000 974 960 1,031 Bungalow 2,303 2,482 2,320 2,219 2,298 2,308 2,358 2,075 2,106 1,951 2,146 2,432 2,360 2,266 2,220 2,121 2,347 2,192 2,190 2,012 2,004 1,872 1,904 2,016

News Release JTC AND SP GROUP TO DEVELOP AND OPERATE SINGAPORE’S FIRST SMART GRID FOR BUSINESS PARKS AT PUNGGOL DIGITAL DISTRICT Partnership will help the District optimise energy consumption, reduce carbon footprint and save cost for businesses and consumers Singapore, 31 October 2018 – A Smart Grid system that provides green energy and increases energy efficiency will serve businesses and consumers in the upcoming Punggol Digital District (PDD). JTC and SP Group signed a Memorandum of Understanding (MOU) to collaborate on the Smart Grid at the Asia Clean Energy Summit 2018 today, witnessed by Minister for the Environment and Water Resources, Mr Masagos Zulkifli. This partnership will drive the design of smart energy solutions comprising the areas of renewable energy and electric mobility, that will be integrated with the Open Digital Platform in the District, announced in July this year. 2. Under the MoU, JTC and SP Group will develop and implement a Smart Grid within PDD. Companies in PDD can look forward to adopting clean sources of energy, such as solar energy generated from building roofs, and take advantage of new technologies, such as electric vehicle charging and smart metering. Through the Smart Grid, about 1,700 tonnes of carbon emissions could be reduced per year, equivalent to taking 270 cars off the road. 3. The Smart Grid will be integrated with the Open Digital Platform, allowing communication and interaction with other building systems in the District, such as the District Cooling System (DCS) and the Building Management System (BMS). For instance, on a hot sunny day, the Smart Grid will register an increase in electricity consumption as the air conditioning systems consume more energy to maintain the temperature in the building. It automatically sends a signal to the Open Digital Platform, which detects the specific rooms where the temperature has increased. The Open Digital Platform then activates the Building Management System within the building to lower the blinds in those rooms, reducing heat gain and conserving energy. 1 4. JTC’s Assistant Chief Executive Officer, Mr. David Tan, said, “Beyond utilities and technologies, it is about giving the community the data and tools to make informed decisions about their energy consumption, be it adopting clean sources of energy or optimising usage to reduce costs. Aggregated data on energy consumption from the Smart Grid will be made available for academics, researchers, start-ups and enterprises to encourage innovation in the domains of clean energy and energy management.” 5. Mr Goh Chee Kiong, Head, Strategic Development of SP Group said, “SP Group is committed to design and implement smart energy solutions, driven by our deep energy integration and digital capabilities. We are pleased to work with JTC to help businesses in the Punggol Digital District save cost and go green through our innovative smart grid.” 6. At the forefront of Singapore’s Smart Nation push, PDD is envisioned to be a vibrant and inclusive district where cutting-edge technology and social innovation transform the way we work, live, learn and play in the future. PDD will house key growth sectors such as digital and cybersecurity, and will also be the first district in Singapore to be fully integrated with Internet of Things systems from the ground up. This infrastructure will create conducive testbed environments for businesses and entrepreneurs, allowing them to thrive in a digital economy, while the enhanced experience brought about by the digitalisation will provide a sustainable and connected environment for the community. The first buildings in District are expected to be completed by 2023. --------------------------------------------------------------------------------------------------------------------------- 2 About JTC Set up in 1968, JTC is the lead government agency responsible for the planning and development of industrial infrastructure to support and catalyse the growth of industries and enterprises in Singapore. Landmark projects by JTC include the Jurong Industrial Estate; the Jurong Island for energy and chemical industries; business and specialised parks such as the International and Changi Business Parks, Seletar Aerospace Park and Tuas Biomedical Park; a work-live-play-&-learn development called one-north; next generation districts including Jurong Innovation District and the Punggol Digital District, as well as the Jurong Rock Caverns, Southeast Asia’s first commercial underground storage facility for liquid hydrocarbons. JTC also develops innovative space such as the JTC Surface Engineering Hub, JTC MedTech Hub, JTC Food Hub @ Senoko, and TimMac @ Kranji which incorporate innovative features and shared infrastructure and services to enable industrialists to start their operations quickly and enhance productivity. For more information on JTC and its products and services, please visit www.jtc.gov.sg. About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.5 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. 3

MEDIA RELEASE SP Group recognised with three Community Chest Awards SP scaled up giving, expanded programmes to benefit seniors, children and youth SP Group CEO Mr Stanley Huang received the Charity Platinum Award from President Halimah Yacob. Singapore, 1 November 2022 – At the Community Chest Awards 2022, SP Group (SP) was recognised with three awards for its sustained philanthropy, strong volunteerism culture and community engagement. Group Chief Executive Officer Stanley Huang received SP’s Charity Platinum Award, Enabler Award, and Volunteer Partner Award at the event presided by President Halimah Yacob on 1 November 2022 at the Istana. Working closely with Community Chest has enabled SP to effectively identify needs, collaborate with social service agencies and create sustained impact to help vulnerable groups. Mr Huang said, “SP is honoured to receive this recognition from Community Chest. Despite the challenges brought on by the pandemic, we scaled up our efforts to fulfil long-standing commitments and set up new programmes to benefit a wider range of social service users, from seniors, to children and youth.” Mr Huang paid tribute to SP’s staff, business associates and the public for enabling its programmes to grow from strength to strength over the years. Last year, SP’s contributions totalled S$4.5 million in donations, sponsorships and volunteer manpower. These include maintaining support for 21,000 seniors through the SP Heartware Fund, which has raised more than S$18 million since it was established in 2005. In addition, SP also committed S$1.1 million this year to see through a five-fold increase in its annual Power Packs initiative, enabling 10,000 lower-income families to receive daily essential items. In widening the scope of its programmes across the age spectrum, SP launched SP Kids at Heart, donating S$2.1 million over the past two years to support 5,000 children under KidSTART with learning tools, including digital devices for home-based learning and early literacy development. 1 SP also extended its reach to youth from vulnerable backgrounds by launching the inaugural SP Group Engineering Study Awards this year with a contribution of S$1.35 million to the Institute of Technical Education (ITE). This will benefit 450 ITE students from lower-income families over the next three years. Through this study award, SP aims to aid aspiring engineers in securing better academic and employment opportunities. In amplifying fundraising efforts for the SP Heartware Fund, SP enables its customers and business associates to donate to Community Chest through the SP app and donation appeals in its utilities bills. SP also matches dollar-for-dollar donations made by its staff to the Fund, and underwrites all fund-raising and operational costs of the Fund and its programmes, so that all donations will go fully to the social service organisations. Staff volunteers, known as SP Heart Workers, organise outreach activities for social service users throughout the year. These include befriending activities at Senior Activity Centres, helping seniors with their grocery runs, conducting digital clinics and more. At the height of the pandemic, SP Heart Workers also partnered FairPrice to bring a mobile supermarket to the doorstep of seniors. SP’s staff have also been part of national-level efforts to provide pandemic relief to the public, including the manning of hotlines for Temasek Foundation’s Stay Prepared programme and Ministry of Health’s home recovery scheme. Mr Huang explained, “Over the years, we have developed a strong culture of volunteerism amongst our team members. This shared purpose of pursuing a common good unifies our people, fosters team-building and cultivates the spirit of giving.” SP Group has received the Charity Platinum Award and Volunteer Partner awards in past editions of the Community Chest Awards, held annually to honour organisations and individuals in Singapore who have made outstanding contributions to the social service sector to care for the less fortunate in the community. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore's national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. Beyond traditional utilities services, SP Group provides a suite of renewable and sustainable energy solutions including solar energy solutions, microgrids, cooling and heating systems for business districts and residential townships, electric vehicle fast charging and green digital energy management tools for customers in Singapore and the region. For more information, please visit spgroup.com.sg or follow us on Facebook at fb.com/SPGroupSG, and LinkedIn at spgrp.sg/linkedin. 2 Editors’ Notes 1. Please use the following photo captions. 2. Photos are to be attributed to “SP Group”. SP Group sustained support for seniors through its flagship corporate philanthropy programme – SP Heartware Fund. This includes scaling up the Power Packs initiative to $1.1 million this year. SP Heart Workers packed and delivered Power Packs of essential items to 10,000 lower-income households this year – a fivefold increase through SP’s S$1.1 million commitment. SP staff volunteers, known as SP Heart Workers, organise outreach activities for social service users throughout the year, including outings with seniors. 3 During the pandemic, SP Heart Workers partnered FairPrice to bring grocery shopping to the doorstep of senior. SP Kids at Heart, launched in 2021, renewed its commitment to KidSTART Singapore with a S$1.1 million donation for 2022. In 2021, SP donated $1 million to KidSTART. (Photo Credit: KidSTART Singapore) The key initiatives supported by SP Kids at Heart in 2022 includes KidSTART Sea Adventures (top) and KidSTART Stories (bottom). (Photo Credit: KidSTART Singapore) 4 5 Expanding its scope to vulnerable youths, SP Group set up its inaugural study awards with a S$1.35 million contribution to benefit 450 ITE engineering school students over the next three years, helping to alleviate financial concerns brought on by the pandemic.

Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the regulated tariff. The family that opts for this plan will get a fixed discount off the prevailing regulated tariff (for example, 5 per cent) throughout the contract duration. The regulated tariff is reviewed by SP Group quarterly and approved by the EMA. While these two plans are relatively cheaper compared with the regulated tariff and could be creatively bundled with other offerings and service partners, they look at the short-term cost of producing electricity, which is why they tend to be tied to a one- or two-year lock-up period. Who is suited for this? It is important that you understand the terms and conditions before signing up for a plan. Check things like whether you need to pay a fee if you terminate the plan and make a switch. Do not make the decision to switch to a retailer simply based on price. Assess your lifestyle needs and consumption patterns. In general, if you are looking at locking up a fixed price for the next one or two years, getting a fixedpriced plan is an option. Others who would like a fixed discount over the regulated tariff can opt for the discount-off tariff plan. Some retailers also offer green-energy plans that are catered towards consumers who want to do their part for the environment. Making comparisons There are more than 100 different plans offered by electricity retailers. You can visit compare.openelectricitymarket.sg to make price comparisons. Seedly has also launched an Electricity Market price comparison tool which compares the plans based on user reviews, rates, housing type, promotional codes and deals in the market. Over at UOB Bank, its UOB Utility Marketplace makes it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. lornatan@sph.com.sg Understanding the electricity tariff SP Group does not have a retailer licence and can only supply electricity to consumers at the regulated tariff rate. About 75 per cent of the tariff goes directly to generation companies as SP passes down the cost directly without any mark-up. Approximately 24 per cent of the regulated tariff goes to SP for grid charges and a market-support services fee. This component of the tariff works out to approximately five to six cents, and goes towards operating, maintaining and upgrading the national electricity grid. While energy costs have gone up and down through the years, SP says the fees for maintaining the grid have been kept stable over the past decade. SP Group is believed to be the most reliable energy distributor in the world, based on the average length of electricity interruption experienced by users. According to the System Average Interruption Duration Index, Singapore’s score is under a minute, next best is Osaka at five minutes. Energy-saving tips Electricity is generated here by burning natural gas and oil, which releases pollutants and greenhouse gases. These trap heat from the sun and keep it from escaping, causing the earth to become warmer, which in turn changes climates everywhere. When we use electricity wisely, there will be less pollution and fewer greenhouse gases. So it’s important to do our part to practise good energy conservation habits. Here are some household energy-savings tips from Singapore Power and the National Environment Agency. LIVING ROOM • Choose energy-saving lighting such as LED bulbs instead of incandescent lamps. • Always switch off electrical appliances at the power socket. Standby power can account for up to 10 per cent of home energy use. BEDROOM • Service your air-conditioners and clean the filters regularly to ensure optimal working condition. • Set the air-conditioner temperature to 25 deg C or higher. The lower the temperature, the more electricity is used. • Close doors and windows when the air-conditioning is on. • Use a laptop instead of desktop as it uses less electricity. KITCHEN • Cover liquids and food stored in the refrigerator. Uncovered items release moisture, forcing the compressor to work harder to keep the temperature low. • Allow food to cool before putting it into the refrigerator. Hot food causes the compressor to work harder to keep the temperature low. • Match the size of the pot with the size of the burner. This is because energy is lost when small pots are used on larger burners. • Wash with an optimal load to maximise energy savings. Lorna Tan Publishedandprinted bySingapore Press Holdings Limited. Co. Regn.No. 198402868E. Amember of AuditBureauof CirculationsSingapore. CustomerService(Circulation): 6388-3838,circs@sph.com.sg, Fax 6746-1925. Searchhttps://www.spgroup.com.sg/search?tag=open-electricity-market Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the regulated tariff. The family that opts for this plan will get a fixed discount off the prevailing regulated tariff (for example, 5 per cent) throughout the contract duration. The regulated tariff is reviewed by SP Group quarterly and approved by the EMA. While these two plans are relatively cheaper compared with the regulated tariff and could be creatively bundled with other offerings and service partners, they look at the short-term cost of producing electricity, which is why they tend to be tied to a one- or two-year lock-up period. Who is suited for this? It is important that you understand the terms and conditions before signing up for a plan. Check things like whether you need to pay a fee if you terminate the plan and make a switch. Do not make the decision to switch to a retailer simply based on price. Assess your lifestyle needs and consumption patterns. In general, if you are looking at locking up a fixed price for the next one or two years, getting a fixedpriced plan is an option. Others who would like a fixed discount over the regulated tariff can opt for the discount-off tariff plan. Some retailers also offer green-energy plans that are catered towards consumers who want to do their part for the environment. Making comparisons There are more than 100 different plans offered by electricity retailers. You can visit compare.openelectricitymarket.sg to make price comparisons. Seedly has also launched an Electricity Market price comparison tool which compares the plans based on user reviews, rates, housing type, promotional codes and deals in the market. Over at UOB Bank, its UOB Utility Marketplace makes it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. lornatan@sph.com.sg Understanding the electricity tariff SP Group does not have a retailer licence and can only supply electricity to consumers at the regulated tariff rate. About 75 per cent of the tariff goes directly to generation companies as SP passes down the cost directly without any mark-up. Approximately 24 per cent of the regulated tariff goes to SP for grid charges and a market-support services fee. This component of the tariff works out to approximately five to six cents, and goes towards operating, maintaining and upgrading the national electricity grid. While energy costs have gone up and down through the years, SP says the fees for maintaining the grid have been kept stable over the past decade. SP Group is believed to be the most reliable energy distributor in the world, based on the average length of electricity interruption experienced by users. According to the System Average Interruption Duration Index, Singapore’s score is under a minute, next best is Osaka at five minutes. Energy-saving tips Electricity is generated here by burning natural gas and oil, which releases pollutants and greenhouse gases. These trap heat from the sun and keep it from escaping, causing the earth to become warmer, which in turn changes climates everywhere. When we use electricity wisely, there will be less pollution and fewer greenhouse gases. So it’s important to do our part to practise good energy conservation habits. Here are some household energy-savings tips from Singapore Power and the National Environment Agency. LIVING ROOM • Choose energy-saving lighting such as LED bulbs instead of incandescent lamps. • Always switch off electrical appliances at the power socket. Standby power can account for up to 10 per cent of home energy use. BEDROOM • Service your air-conditioners and clean the filters regularly to ensure optimal working condition. • Set the air-conditioner temperature to 25 deg C or higher. The lower the temperature, the more electricity is used. • Close doors and windows when the air-conditioning is on. • Use a laptop instead of desktop as it uses less electricity. KITCHEN • Cover liquids and food stored in the refrigerator. Uncovered items release moisture, forcing the compressor to work harder to keep the temperature low. • Allow food to cool before putting it into the refrigerator. Hot food causes the compressor to work harder to keep the temperature low. • Match the size of the pot with the size of the burner. This is because energy is lost when small pots are used on larger burners. • Wash with an optimal load to maximise energy savings. Lorna Tan Publishedandprinted bySingapore Press Holdings Limited. Co. Regn.No. 198402868E. Amember of AuditBureauof CirculationsSingapore. CustomerService(Circulation): 6388-3838,circs@sph.com.sg, Fax 6746-1925. Searchhttps://www.spgroup.com.sg/search?tag=open-electricity-market Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the regulated tariff. The family that opts for this plan will get a fixed discount off the prevailing regulated tariff (for example, 5 per cent) throughout the contract duration. The regulated tariff is reviewed by SP Group quarterly and approved by the EMA. While these two plans are relatively cheaper compared with the regulated tariff and could be creatively bundled with other offerings and service partners, they look at the short-term cost of producing electricity, which is why they tend to be tied to a one- or two-year lock-up period. Who is suited for this? It is important that you understand the terms and conditions before signing up for a plan. Check things like whether you need to pay a fee if you terminate the plan and make a switch. Do not make the decision to switch to a retailer simply based on price. Assess your lifestyle needs and consumption patterns. In general, if you are looking at locking up a fixed price for the next one or two years, getting a fixedpriced plan is an option. Others who would like a fixed discount over the regulated tariff can opt for the discount-off tariff plan. Some retailers also offer green-energy plans that are catered towards consumers who want to do their part for the environment. Making comparisons There are more than 100 different plans offered by electricity retailers. You can visit compare.openelectricitymarket.sg to make price comparisons. Seedly has also launched an Electricity Market price comparison tool which compares the plans based on user reviews, rates, housing type, promotional codes and deals in the market. Over at UOB Bank, its UOB Utility Marketplace makes it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. lornatan@sph.com.sg Understanding the electricity tariff SP Group does not have a retailer licence and can only supply electricity to consumers at the regulated tariff rate. About 75 per cent of the tariff goes directly to generation companies as SP passes down the cost directly without any mark-up. Approximately 24 per cent of the regulated tariff goes to SP for grid charges and a market-support services fee. This component of the tariff works out to approximately five to six cents, and goes towards operating, maintaining and upgrading the national electricity grid. While energy costs have gone up and down through the years, SP says the fees for maintaining the grid have been kept stable over the past decade. SP Group is believed to be the most reliable energy distributor in the world, based on the average length of electricity interruption experienced by users. According to the System Average Interruption Duration Index, Singapore’s score is under a minute, next best is Osaka at five minutes. Energy-saving tips Electricity is generated here by burning natural gas and oil, which releases pollutants and greenhouse gases. These trap heat from the sun and keep it from escaping, causing the earth to become warmer, which in turn changes climates everywhere. When we use electricity wisely, there will be less pollution and fewer greenhouse gases. So it’s important to do our part to practise good energy conservation habits. Here are some household energy-savings tips from Singapore Power and the National Environment Agency. LIVING ROOM • Choose energy-saving lighting such as LED bulbs instead of incandescent lamps. • Always switch off electrical appliances at the power socket. Standby power can account for up to 10 per cent of home energy use. BEDROOM • Service your air-conditioners and clean the filters regularly to ensure optimal working condition. • Set the air-conditioner temperature to 25 deg C or higher. The lower the temperature, the more electricity is used. • Close doors and windows when the air-conditioning is on. • Use a laptop instead of desktop as it uses less electricity. KITCHEN • Cover liquids and food stored in the refrigerator. Uncovered items release moisture, forcing the compressor to work harder to keep the temperature low. • Allow food to cool before putting it into the refrigerator. Hot food causes the compressor to work harder to keep the temperature low. • Match the size of the pot with the size of the burner. This is because energy is lost when small pots are used on larger burners. • Wash with an optimal load to maximise energy savings. Lorna Tan Publishedandprinted bySingapore Press Holdings Limited. Co. Regn.No. 198402868E. Amember of AuditBureauof CirculationsSingapore. CustomerService(Circulation): 6388-3838,circs@sph.com.sg, Fax 6746-1925. Searchhttps://www.spgroup.com.sg/search?tag=open-electricity-market Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the regulated tariff. The family that opts for this plan will get a fixed discount off the prevailing regulated tariff (for example, 5 per cent) throughout the contract duration. The regulated tariff is reviewed by SP Group quarterly and approved by the EMA. While these two plans are relatively cheaper compared with the regulated tariff and could be creatively bundled with other offerings and service partners, they look at the short-term cost of producing electricity, which is why they tend to be tied to a one- or two-year lock-up period. Who is suited for this? It is important that you understand the terms and conditions before signing up for a plan. Check things like whether you need to pay a fee if you terminate the plan and make a switch. Do not make the decision to switch to a retailer simply based on price. Assess your lifestyle needs and consumption patterns. In general, if you are looking at locking up a fixed price for the next one or two years, getting a fixedpriced plan is an option. Others who would like a fixed discount over the regulated tariff can opt for the discount-off tariff plan. Some retailers also offer green-energy plans that are catered towards consumers who want to do their part for the environment. Making comparisons There are more than 100 different plans offered by electricity retailers. You can visit compare.openelectricitymarket.sg to make price comparisons. Seedly has also launched an Electricity Market price comparison tool which compares the plans based on user reviews, rates, housing type, promotional codes and deals in the market. Over at UOB Bank, its UOB Utility Marketplace makes it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. lornatan@sph.com.sg Understanding the electricity tariff SP Group does not have a retailer licence and can only supply electricity to consumers at the regulated tariff rate. About 75 per cent of the tariff goes directly to generation companies as SP passes down the cost directly without any mark-up. Approximately 24 per cent of the regulated tariff goes to SP for grid charges and a market-support services fee. This component of the tariff works out to approximately five to six cents, and goes towards operating, maintaining and upgrading the national electricity grid. While energy costs have gone up and down through the years, SP says the fees for maintaining the grid have been kept stable over the past decade. SP Group is believed to be the most reliable energy distributor in the world, based on the average length of electricity interruption experienced by users. According to the System Average Interruption Duration Index, Singapore’s score is under a minute, next best is Osaka at five minutes. Energy-saving tips Electricity is generated here by burning natural gas and oil, which releases pollutants and greenhouse gases. These trap heat from the sun and keep it from escaping, causing the earth to become warmer, which in turn changes climates everywhere. When we use electricity wisely, there will be less pollution and fewer greenhouse gases. So it’s important to do our part to practise good energy conservation habits. Here are some household energy-savings tips from Singapore Power and the National Environment Agency. LIVING ROOM • Choose energy-saving lighting such as LED bulbs instead of incandescent lamps. • Always switch off electrical appliances at the power socket. Standby power can account for up to 10 per cent of home energy use. BEDROOM • Service your air-conditioners and clean the filters regularly to ensure optimal working condition. • Set the air-conditioner temperature to 25 deg C or higher. The lower the temperature, the more electricity is used. • Close doors and windows when the air-conditioning is on. • Use a laptop instead of desktop as it uses less electricity. KITCHEN • Cover liquids and food stored in the refrigerator. Uncovered items release moisture, forcing the compressor to work harder to keep the temperature low. • Allow food to cool before putting it into the refrigerator. Hot food causes the compressor to work harder to keep the temperature low. • Match the size of the pot with the size of the burner. This is because energy is lost when small pots are used on larger burners. • Wash with an optimal load to maximise energy savings. Lorna Tan Publishedandprinted bySingapore Press Holdings Limited. Co. Regn.No. 198402868E. Amember of AuditBureauof CirculationsSingapore. CustomerService(Circulation): 6388-3838,circs@sph.com.sg, Fax 6746-1925. Searchhttps://www.spgroup.com.sg/search?tag=open-electricity-market Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the regulated tariff. The family that opts for this plan will get a fixed discount off the prevailing regulated tariff (for example, 5 per cent) throughout the contract duration. The regulated tariff is reviewed by SP Group quarterly and approved by the EMA. While these two plans are relatively cheaper compared with the regulated tariff and could be creatively bundled with other offerings and service partners, they look at the short-term cost of producing electricity, which is why they tend to be tied to a one- or two-year lock-up period. Who is suited for this? It is important that you understand the terms and conditions before signing up for a plan. Check things like whether you need to pay a fee if you terminate the plan and make a switch. Do not make the decision to switch to a retailer simply based on price. Assess your lifestyle needs and consumption patterns. In general, if you are looking at locking up a fixed price for the next one or two years, getting a fixedpriced plan is an option. Others who would like a fixed discount over the regulated tariff can opt for the discount-off tariff plan. Some retailers also offer green-energy plans that are catered towards consumers who want to do their part for the environment. Making comparisons There are more than 100 different plans offered by electricity retailers. You can visit compare.openelectricitymarket.sg to make price comparisons. Seedly has also launched an Electricity Market price comparison tool which compares the plans based on user reviews, rates, housing type, promotional codes and deals in the market. Over at UOB Bank, its UOB Utility Marketplace makes it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. lornatan@sph.com.sg Understanding the electricity tariff SP Group does not have a retailer licence and can only supply electricity to consumers at the regulated tariff rate. About 75 per cent of the tariff goes directly to generation companies as SP passes down the cost directly without any mark-up. Approximately 24 per cent of the regulated tariff goes to SP for grid charges and a market-support services fee. This component of the tariff works out to approximately five to six cents, and goes towards operating, maintaining and upgrading the national electricity grid. While energy costs have gone up and down through the years, SP says the fees for maintaining the grid have been kept stable over the past decade. SP Group is believed to be the most reliable energy distributor in the world, based on the average length of electricity interruption experienced by users. According to the System Average Interruption Duration Index, Singapore’s score is under a minute, next best is Osaka at five minutes. Energy-saving tips Electricity is generated here by burning natural gas and oil, which releases pollutants and greenhouse gases. These trap heat from the sun and keep it from escaping, causing the earth to become warmer, which in turn changes climates everywhere. When we use electricity wisely, there will be less pollution and fewer greenhouse gases. So it’s important to do our part to practise good energy conservation habits. Here are some household energy-savings tips from Singapore Power and the National Environment Agency. LIVING ROOM • Choose energy-saving lighting such as LED bulbs instead of incandescent lamps. • Always switch off electrical appliances at the power socket. Standby power can account for up to 10 per cent of home energy use. BEDROOM • Service your air-conditioners and clean the filters regularly to ensure optimal working condition. • Set the air-conditioner temperature to 25 deg C or higher. The lower the temperature, the more electricity is used. • Close doors and windows when the air-conditioning is on. • Use a laptop instead of desktop as it uses less electricity. KITCHEN • Cover liquids and food stored in the refrigerator. Uncovered items release moisture, forcing the compressor to work harder to keep the temperature low. • Allow food to cool before putting it into the refrigerator. Hot food causes the compressor to work harder to keep the temperature low. • Match the size of the pot with the size of the burner. This is because energy is lost when small pots are used on larger burners. • Wash with an optimal load to maximise energy savings. Lorna Tan Publishedandprinted bySingapore Press Holdings Limited. Co. Regn.No. 198402868E. Amember of AuditBureauof CirculationsSingapore. CustomerService(Circulation): 6388-3838,circs@sph.com.sg, Fax 6746-1925. Searchhttps://www.spgroup.com.sg/search?tag=open-electricity-market Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the regulated tariff. The family that opts for this plan will get a fixed discount off the prevailing regulated tariff (for example, 5 per cent) throughout the contract duration. The regulated tariff is reviewed by SP Group quarterly and approved by the EMA. While these two plans are relatively cheaper compared with the regulated tariff and could be creatively bundled with other offerings and service partners, they look at the short-term cost of producing electricity, which is why they tend to be tied to a one- or two-year lock-up period. Who is suited for this? It is important that you understand the terms and conditions before signing up for a plan. Check things like whether you need to pay a fee if you terminate the plan and make a switch. Do not make the decision to switch to a retailer simply based on price. Assess your lifestyle needs and consumption patterns. In general, if you are looking at locking up a fixed price for the next one or two years, getting a fixedpriced plan is an option. Others who would like a fixed discount over the regulated tariff can opt for the discount-off tariff plan. Some retailers also offer green-energy plans that are catered towards consumers who want to do their part for the environment. Making comparisons There are more than 100 different plans offered by electricity retailers. You can visit compare.openelectricitymarket.sg to make price comparisons. Seedly has also launched an Electricity Market price comparison tool which compares the plans based on user reviews, rates, housing type, promotional codes and deals in the market. Over at UOB Bank, its UOB Utility Marketplace makes it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. lornatan@sph.com.sg Understanding the electricity tariff SP Group does not have a retailer licence and can only supply electricity to consumers at the regulated tariff rate. About 75 per cent of the tariff goes directly to generation companies as SP passes down the cost directly without any mark-up. Approximately 24 per cent of the regulated tariff goes to SP for grid charges and a market-support services fee. This component of the tariff works out to approximately five to six cents, and goes towards operating, maintaining and upgrading the national electricity grid. While energy costs have gone up and down through the years, SP says the fees for maintaining the grid have been kept stable over the past decade. SP Group is believed to be the most reliable energy distributor in the world, based on the average length of electricity interruption experienced by users. According to the System Average Interruption Duration Index, Singapore’s score is under a minute, next best is Osaka at five minutes. Energy-saving tips Electricity is generated here by burning natural gas and oil, which releases pollutants and greenhouse gases. These trap heat from the sun and keep it from escaping, causing the earth to become warmer, which in turn changes climates everywhere. When we use electricity wisely, there will be less pollution and fewer greenhouse gases. So it’s important to do our part to practise good energy conservation habits. Here are some household energy-savings tips from Singapore Power and the National Environment Agency. LIVING ROOM • Choose energy-saving lighting such as LED bulbs instead of incandescent lamps. • Always switch off electrical appliances at the power socket. Standby power can account for up to 10 per cent of home energy use. BEDROOM • Service your air-conditioners and clean the filters regularly to ensure optimal working condition. • Set the air-conditioner temperature to 25 deg C or higher. The lower the temperature, the more electricity is used. • Close doors and windows when the air-conditioning is on. • Use a laptop instead of desktop as it uses less electricity. KITCHEN • Cover liquids and food stored in the refrigerator. Uncovered items release moisture, forcing the compressor to work harder to keep the temperature low. • Allow food to cool before putting it into the refrigerator. Hot food causes the compressor to work harder to keep the temperature low. • Match the size of the pot with the size of the burner. This is because energy is lost when small pots are used on larger burners. • Wash with an optimal load to maximise energy savings. Lorna Tan Publishedandprinted bySingapore Press Holdings Limited. Co. Regn.No. 198402868E. Amember of AuditBureauof CirculationsSingapore. CustomerService(Circulation): 6388-3838,circs@sph.com.sg, Fax 6746-1925. [20180929]+SP+Group's+role+in+Open+Electricity+Market+-+Response+on+Straits+Times+Forum.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/620a98dd-de66-45f8-b702-7f3eb1a678d8/%5B20180929%5D+SP+Group's+role+in+Open+Electricity+Market+-+Response+on+Straits+Times+Forum.pdf?MOD=AJPERES&CVID= SP Group’s role in electricity industry As published in Straits Times Forum Letter (29 Sept 2018) We thank readers for their letters and the queries they raised (How are new retailers able to offer better prices than SP Group? by Mr Max Leong; Maintaining cost savings tough in the long term by Mr Goh Boon Kai and Many concerns over changes in power market by Mr Ong Soon Yam for their letters, all on Sept 25). SP Group operates and maintains the electricity grid and provides market support services such as billing and meter reading. Under the regulated tariff set by the Energy Market Authority (EMA) for the period of July 1 to Sept 30, SP Group is paid 5.71 cents per kWh (SP Component) for the above services, out of 23.65 cents per kWh paid by residential consumers. The remaining tariff components go to the generation companies, Energy Market Company for market administration, and EMA for power system operator costs. Under the Open Electricity Market (OEM), consumers will be able to buy electricity from retailers, at the retail electricity price, instead of buying under the tariff set by the EMA. The electricity price offered by retailers will also include the SP Component. Whether consumers buy electricity under tariff, or through a retailer, the SP Component collected from consumers is the same. It is regulated by the EMA, and has been stable the past 10 years, even as the electricity tariff fluctuated. Chuah Kee Heng Managing Director SP Services Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Reference Low Tension Electricity Tariff for Residential Customers 35 30 25 20 15 10 5 0 Grid Charge MSS Fee Market Admin & PSO Energy Cost Q3 2018 TARIFF (July – September) Market Admin & Power System Operator Fee to EMA (No change) 0.05¢/kWh (<1%) Market Support Services Fee to SP Group (No change) 0.40¢/kWh (1. to7%) Network Costs to SP Group (No change) 5.31¢/kWh (22.5%) Energy Costs to electricity generation companies (Increase by 1.50¢/kWh compared to previous quarter) 17.89¢/kWh (75.6%) Searchhttps://www.spgroup.com.sg/search?tag=open-electricity-market Search Open Electricity Markethttps://www.spgroup.com.sg/our-services/utilities/open-electricity-market OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Open Electricity Market The Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. With the Open Electricity Market, you have the choice of buying electricity from: SP Group at the regulated tariff (no action is required if you choose this option); or An electricity retailer at a price plan that best meets your needs; or The wholesale electricity market at half-hourly wholesale electricity prices through SP Group. Regardless of who you buy your electricity from, your electricity supply will stay the same. This is because SP Group will continue to operate the national power grid and deliver electricity to everyone. Working with Retailers Our goal is to make processes convenient and efficient for all customers. SP will facilitate customer transfers between retailers and offer retailers one-stop utilities billing and call centre services. As the Market Support Services Licensee, SP continues to provide services such as: Opening of utilities account Meter reading Meter data management Billing services If your Retailer Exits the Market You will be transferred to buy electricity from SP Group as a last resort.  Households and small businesses with an average monthly consumption of less than 4MWh will buy electricity at the regulated tariff rate. Larger businesses with an average monthly consumption of at least 4MWh will buy electricity at the wholesale electricity price. There will be no disruption to your electricity supply. You will continue to receive your electricity supply through the national power grid that is operated by SP Group. Making the Switch to a Retailer Residential Consumers Business Consumers For more information on Open Electricity Market Visit www.openelectricitymarket.com.sg Have a business enquiry? Interested to find out more how our integrated services can serve your business needs? Drop us an online enquiry, and our qualified professionals will reach out to you. Contact Us Form The Sunday Times - Open Electricity Market - How to save energy and moneyhttps://www.spgroup.com.sg/dam/jcr:4b271c9a-e89d-4c36-ae95-3f38f985c89c B14 | The Sunday Times | Sunday, September 1, 2019 Me & My Property Before investing in properties, entrepreneur Gerald Tan researches extensively such as viewing listings online. B11 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 Open electricity market: How to save energy and money About 34% of household consumers made switch, most on 24-month standard price plan Lorna Tan Invest Editor 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. You would have received a notification package and a booklet on how to switch out of buying electricity from SP Power to one of the 12 retailers. The option to choose from these electricity retailers comes with benefits like competitive pricing and innovative offers such as cash rebates if paying via selected credit cards. About 34 per cent of household consumers have made a switch. The Energy Market Authority (EMA) stated earlier this year that consumers who have switched pay an electricity rate that is about 20 to 30 per cent lower than the regulated tariff. Retailers are offering rates ranging from 17.66 cents/kWh (kilowatt hour ) to 23.01 cents/kWh for their fixed price plans and discounts ranging from 14.5 per cent to 25 per cent off the regulated tariff plans. Most households that switched signed up for 24-month standard price plans. The fixed-price plans have seen a higher take-up than the discount off the regulated tariff plans, the EMA said. Bear in mind that you should buy electricity only from retailers authorised by the EMA. And buying electricity from a retailer does not change the way power is physically supplied to you because SP will continue to operate the national grid. For those who have not switched to an electricity retailer, there is no time pressure as you can change at any time and you can continue to buy electricity from SP at the regulated tariff as you do today. The Sunday Times highlights the role of SP, and the various plans and factors to consider so you can make an informed decision on the price plan that best suits your needs. SP’s role in OEM SP does not generate or sell electricity. It buys it from power generation companies and distributes it to consumers at zero markup. SP has continued to own, operate and maintain the national electricity grid since the OEM. It transmits and distributes electricity to all consumers. This ensures a reliable supply, regardless of your choice of retailer. SP also acts as a safeguard. If a retailer ceases operations, SP Group will take over the accounts at the default tariff price and continue to supply electricity to consumers. SP’s Wholesale Price Plan Consumers can choose from any of the 12 retailers (the list may change over time), selecting one of the many price plans that best suits their needs. Some consumers may not be aware that they can also buy directly from the wholesale electricity market via SP. This is because SP offers two price plans – the regulated tariff and a wholesale price. Consumers who prefer to keep How they compare Name Best Electricity Diamond Electric Geneco iSwitch Keppel Electric Ohm Electricity PacificLight SembCorp Power Senoko Energy Sunseap Tuas Power Union Power NOTE: Table as at Aug 26, 2019. Type of plans offered Fixed-rate plan Discount-off tariff plan Non-standard Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Non-standard Fixed-rate plan Discount-off tariff plan Wholesale market rate plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Fixed-rate plan Discount-off tariff plan Peak and off-peak plan Non-standard Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan Fixed-rate plan Discount-off tariff plan the status quo can choose to remain with SP on the regulated tariff that is set by the EMA. When the market was progressively liberalised from 2001, commercial and industrial customers with higher consumptions already had a choice of buying electricity at a tariffed rate or at a wholesale price Contract length 6 months/1 year/2 years 1 year/2 years 2 years No contract/1 year/2 years 1 year/2 years 6 months/1 year/2 years 2 years 1 year/2 years/3 years 1 year/2 years 1 year/2 years/3 years 3 months/2 years 2 years No contract/6 months/ 1 year/2 years 6 months/1 year No contract 1 year/2 years/3 years 1 year 1 year/2 years/3 years 1 year/2 years 1 year/2 years 1 year No contract 1 year/2 years 1 year/2 years 6 months/1 year/2 years 6 months/1 year/2 years 1.5 years/2 years/3 years 6 months/2 years 1 year/2 years 6 months/2 years Source: SEEDLY.SG SUNDAY TIMES GRAPHICS from SP Group, or at retail price from the big generation companies such as Sembcorp, Tuas, Senoko and Geneco (formerly Seraya). Residential customers had the option of the wholesale price when their respective zones opened up, starting with Jurong in April last year. Price plans available to consumers REGULATED TARIFF This price plan is regulated and set by the EMA quarterly. The tariff takes into consideration the longterm cost of producing electricity and looks to protect consumers from volatile oil and gas prices. As this is a regulated price, SP does not have the flexibility of lowering it by bundling with other offers and service partners. Who is suited for this? Typically, consumers with low electricity consumption prefer to stick to the option they are familiar with and not bother with gimmicks or additional terms and conditions. The tariffed price is stable and regulated. WHOLESALE ELECTRICITY PRICE You can choose to buy electricity directly from the wholesale market at no mark-up. As the prices are determined by market forces, they are the lowest price out there. However, prices fluctuate due to demand and supply of real-time electricity consumption across Singapore. On a day when heavy industries consume a lot of electricity, the demand is high and hence the price is higher compared with night hours when these heavy industries shut down. Who is suited for this? This can be considered by consumers who are more savvy, who do not mind the volatility of real-time electricity costs that change every 30 minutes, and if they tend to consume power more in the night (for example, by using air conditioning) when prices are cheaper than in the day time. In addition, there is no fixed term tied to this option so you can terminate as and when you want. RETAIL PRICE There are multiple plans that are offered by retailers. They can be grouped into: • Fixed price – A fixed price per kilowatt of electricity. A household on this plan will pay a constant rate (for example, 20 cents/kWh) throughout the contract duration. Note that the rates retailers offer may be higher or lower than the regulated tariff. • Discount-off tariff – Discount based on a fixed percentage off the