Appendix 1 CPMS Quarterly Assessment Q1 FY24/25 CPMS Quarter Assessment Q1 FY24/25 (01 Apr 2024 – 30 Jun 2024) Results Q1 FY2425 CPMS Quarter Assessment 20 15 19 12 10 5 2 3 2 3 0 Grade A (≥90) Grade B (80 - 89) Grade C (70 - 79) Grade D (60 - 69) Grade E (50-59) Grade F (0-49) We have completed our first quarter for CPMS assessment based on the contracts that are CPMS applicable rendered to your respective company based on the following four (4) areas: (a) Safety; (b) Quality of Work; (c) Project & Risk Management; and (d) Value Added Services The contractors involved in CPMS with their respective grades are shown as below table. SP Group 2 Kallang Sector, Singapore 349277, www.spgroup.com.sg Appendix 1 CPMS Quarter Assessment Q1 FY24/25 (01 Apr 2024 – 30 Jun 2024) Results The list of the contractors below is arranged in alphabetical order and not in any particular ranking sequence. Contractor Grade CHINA INTERNATIONAL WATER & ELECTRIC CORPORATION (S) PTE LTD HIAP ENGINEERING & CONSTRUCTION PTE LTD A CHIN KUAN ENGINEERING & CONTRACTORS PTE LTD CHUAN LIM CONSTRUCTION PTE LTD HSC PIPELINE ENGINEERING PTE LTD K.H. LEE ENGINEERING & CONSTRUCTION PTE LTD LEY CHOON CONSTRUCTIONS AND ENGINEERING PTE LTD LIH MING CONSTRUCTION PTE LTD LONG ZHOU ENGINEERING PTE LTD LS CABLE & SYSTEM LTD SINGAPORE BRANCH MACBUILD CONSTRUCTION PTE LTD PACIFIC CENTRAL TEKNIK PTE LTD RMA FIVENTURES ASIA-PACIFIC PTE LTD SAM LAIN EQUIPMENT SERVICES PTE LTD SING TEC DEVELOPMENT PTE LTD TAIHAN CABLE & SOLUTION CO.,LTD. TEACLY (S) PTE LTD UK ENGINEERING & CONSTRUCTION PTE LTD UNIGLORY CONSTRUCTION PTE LTD VISTEK PTE LTD YEW ANN CONSTRUCTION PTE LTD B SP Group 2 Kallang Sector, Singapore 349277, www.spgroup.com.sg Appendix 1 Contractor AVENUE ENGINEERING PTE LTD CITI CONSTRUCTION & ENGINEERING PTE LTD DOSK CONTRACT SERVICES PTE LTD HANAKO CONSTRUCTION PTE LTD INTEGRATE ENGINEERS PTE LTD JIN CHOON CIVIL ENGINEERING PTE LTD LIANG & HOW CONTRACTOR PTE LTD MO GUAN CONSTRUCTION ENGINEERING PTE LTD Mr Berg Pte Ltd POWERCOM ENGINEERING WORKS PTE LTD SER CHUAN CONSTRUCTION PTE LTD SIGMA CABLE COMPANY (PRIVATE) LIMITED Grade C ILJIN ELECTRIC CO LTD SINGAPORE BRANCH J&CO ENGINEERING PTE LTD SING AND SAN CONSTRUCTION PTE LTD D ASPHALT SPECIALIST SERVICES PTE LTD SL LINK ENGINEERING PTE LTD E HI POWER PTE LTD HYUNDAI ENGINEERING & CONSTRUCTION CO.,LTD YUAN JI ENTERPRISES PTE LTD F SP Group 2 Kallang Sector, Singapore 349277, www.spgroup.com.sg

SP Group labur $30j dalam inisiatif penyelidikan dan pendidikan bersama NTU PENGENDALI grid elektrik nasional SP Group telah mengetepikan $20 juta untuk melancarkan makmal bersama dengan Universiti Teknologi Nanyang (NTU) dan memberi sumbangan $10 juta untuk menubuhkan dua dana endowmen. Makmal itu, yang terletak di NTU, akan memberi tumpuan kepada projek berkaitan tenaga dalam bidang urusan aset dan operasi rangkaian. Apabila siap pada 2021, makmal itu akan menempatkan 60 penyelidik, 85 mahasiswa dan pelajar possiswazah, dan berperanan sebagai platform latihan bagi jurutera SP Group. Kolaborasi $30 juta itu akan “mempertingkat daya tahan rangkaian elektrik Singapura, mempertingkat keandalannya dan keberkesanan bekalan elektrik dibekalkan kepada pengguna dan memupuk pakar bagi sektor tenaga,” kata SP Group dan NTU dalam kenyataan bersama semalam. Satu dana endowmen itu, Dana Jawatan Profesor SP Group, akan memberi sokongan kepada dua anggota fakulti cemerlang dalam penyelidikan dan biasiswa. Dana kedua bertujuan memberi sokongan kepada saintis dan jurutera penyelidikan pada awal kerjaya mereka dalam bidang tenaga dan sistem kuasa. Penerima kededua dana akan memberi sumbangan kepada penyelidikan yang dilakukan di makmal itu, kata kenyataan itu. Menteri Kedua Perdagangan dan Perusahaan Dr Tan See Leng berkata: “Singapura mempunyai antara rangkaian elektrik yang paling andal di dunia. Kita perlu terus membangun dan mempertingkat keupayaan setempat bagi persediaan masa depan. “Kerjasama antara NTU dan SP Group ini akan memberi rangsangan kepada daya tahan rangkaian kita dan membangun huraian inovatif yang boleh memenuhi keperluan tenaga di masa depan,” kata Dr Tan. Makmal baru itu akan diperlengkapkan dengan teknologi kecerdasan buatan dan pembelajaran mesin supaya penyelidik boleh menganalisis dan memantau aset SP Group dalam masa sebenar. Ini membolehkan mereka meramalkan masalah yang boleh dihadapi rangkaian itu di masa hadapan, sebelum ia berlaku. Buat masa ini, teknik pemantauan yang ada hanya boleh dilaksanakan pada skala lebih kecil dalam rangkaian penyaluran tenaga, tetapi makmal baru itu membenarkan SP Group dan penyelidik NTU untuk membuat rekaan dan membangun sistem berkesan dari segi kos dan yang boleh diperluas menggunakan teknologi.

BEST PRACTICES BY DIMENSIONS Customer Empowerment and Satisfaction • UKPN • WPD • e-distribuzione • SP Energy Networks • Northern Powergrid • TaiPower • Westnetz • DEWA • Enedis • ENWL • SSEN • SP Group • Tata power-DDL • Ausnet • KEPCO • Jemena • TNB • Kansai • Light • UKPN • PG&E • WPD • CitiPower • SDGE • SCE • e-distribuzione • ComEd • Enedis • ENWL • FPL • APS • CLP • PEPCO • Tata power-DDL • BC Hydro • Chubu • Fluvius • Duke Energy • Radius Monitoring & Control • Helen • Meralco • ESB • Light • Edenor • SP Energy Networks • Tata power-DDL • Shenzhen Power • State Grid Sichuan • CenterPoint Energy Security • UKPN • PG&E • WPD • ConEd • CitiPower • SDGE • SCE • e-distribuzione • SP Energy Networks • Northern Powergrid • TaiPower • ComEd • Westnetz • FPL • LADWP Green Energy • UKPN • PG&E • WPD • ConEd • SDGE • SCE • Enedis • LADWP • CLP • Hydro Ottawa • i-DE • EDP • APS • SSEN • CenterPoint Energy • Hydro Ottawa • PEPCO • Tata power-DDL • BGE • Toronto Hydro • BC Hydro • Eversource • PSE • Dominion Energy • EVN Hanoi • NIEN • Tata power Ltd • Eversource • Western Power • Vector • ACEA • PG&E • CitiPower • SDGE • SCE • e-distribuzione • ComEd • CitiPower • DEWA • CLP • SP Group • KEPCO • UKPN • PG&E • WPD • ConEd • SDGE Data Analytics • FPL • State Grid Beijing • Jemena • BC Hydro • Vattenfall • Duke Energy Supply Reliability • Helen • HK Electric • CEM • Rosseti DER Integration • SCE • SP Energy Networks • Ausnet • Eversource Is your Grid Smarter? Benchmarking Results 2020 SMART GRID PROGRESS (2019-2020) Global Asia-Pacific & SATISFACTION CUSTOMER EMPOWERMENT MONITORING & CONTROL DATA ANALYTICS & SATISFACTION CUSTOMER EMPOWERMENT MONITORING & CONTROL DATA ANALYTICS SECURITY SUPPLY RELIABILITY SECURITY SUPPLY RELIABILITY GREEN ENERGY DER INTEGRATION GREEN ENERGY DER INTEGRATION North America Europe & SATISFACTION CUSTOMER EMPOWERMENT MONITORING & CONTROL DATA ANALYTICS & SATISFACTION CUSTOMER EMPOWERMENT MONITORING & CONTROL DATA ANALYTICS SECURITY SUPPLY RELIABILITY SECURITY SUPPLY RELIABILITY Average score 2020 Average score 2019 GREEN ENERGY DER INTEGRATION GREEN ENERGY DER INTEGRATION Website : www.spgroup.com.sg/what-we-do/smart-grid-index Email : sgi@spgroup.com.sg Scan this QR Code to learn more about us KEY FINDINGS BENCHMARKING RESULTS 2020 Utility Country/Market Score Best Practices +/- Utility Country/Market Score +/- Best Practices UKPN GBR 94.6 5.4% Fluvius BEL 67.9 1.8% PG&E USA 92.9 0.0% PSE USA 67.9 7.1% NORTH AMERICA continues to lead due to early adoption of smart grid development EUROPE improved the most relative to the rest of the world ASIA-PACIFIC made significant improvements in Data Analytics WPD ConEd CitiPower SDGE GBR USA AUS USA 91.1 89.3 87.5 87.5 23.2% 8.9% 7.1% 1.8% Liander Vattenfall Duke Energy State Grid Chongqing NLD SWE USA CHN 66.1 66.1 64.3 64.3 12.5% 19.6% 5.4% 1.8% SCE USA 85.7 -1.8% Dominion Energy USA 62.5 3.6% e-distribuzione ITA 83.9 0.0% Radius DNK 62.5 10.7% SP Energy Networks GBR 83.9 21.4% State Grid Nanjing CHN 62.5 5.4% Northern Powergrid GBR 82.1 10.7% State Grid Sichuan CHN 62.5 10.7% SMART GRID INDEX INCREASED COVERAGE IN 2020 TaiPower ComEd TWN USA 82.1 80.4 17.9% 1.8% State Grid Tianjin TNB CHN MYS 62.5 62.5 10.7% 10.7% Stedin NLD 80.4 12.5% Western Power AUS 62.5 5.4% The Smart Grid Index (SGI) measures the smartness of electricity grids globally, in seven key dimensions. The benchmarking also identifies best practices to build smarter grids that deliver better value to customers. 85 37 Global Utilities Countries/Markets Westnetz DEWA Enedis ENWL DEU ARE FRA GBR 80.4 78.6 78.6 78.6 3.6% 1.8% 3.6% 8.9% Helen HK Electric State Grid Hubei Kansai FIN HKG CHN JPN 60.7 60.7 60.7 58.9 3.6% 3.6% 3.6% 1.8% FPL USA 78.6 1.8% Meralco PHL 58.9 5.4% AVERAGE SCORE BY REGION 7 DIMENSIONS OF A SMART GRID LADWP APS SSEN USA USA GBR 78.6 76.8 76.8 1.8% 5.4% 10.7% ESB Vector EVN Hanoi IRL NZL VNM 57.1 57.1 55.4 10.7% 10.7% 26.8% North America 72.02% 76.28% MONITORING & CONTROL • SCADA • DMS/ADMS CenterPoint Energy CLP Hydro Ottawa i-DE USA HKG CAN ESP 75.0 75.0 75.0 75.0 3.6% 5.4% 5.4% 3.6% NIEN MEA PEA ACEA GBR THA THA ITA 55.4 53.6 53.6 51.8 10.7% 0.0 % 8.9% 8.9% Europe 62.11% 70.18% DATA ANALYTICS • Smart Meter Coverage • Data Analytics Application PEPCO SP Group Tata power-DDL USA SGP IND 75.0 75.0 75.0 1.8% 8.9% 3.6% CEM EVN HCMC Kahramaa MAC VNM QAT 51.8 51.8 51.8 0.0 % 17.9% 0.0 % Asia 63.85% Pacific 58.34% SUPPLY RELIABILITY • SAIDI • SAIFI TEPCO Ausnet BGE JPN AUS USA 75.0 73.2 73.2 1.8% 5.4% 8.9% Stromnetz Berlin Wiener Netze Eskom DEU AUT ZAF 51.8 51.8 50.0 -5.4% -1.8% 8.9% KEPCO KOR 73.2 0.0% Light BRA 48.2 1.8% Average score 2020 Average score 2019 DER INTEGRATION • Management of DER Integration • Grid Scale Energy Storage Shenzhen Power State Grid Beijing State Grid Shanghai CHN CHN CHN 73.2 73.2 73.2 8.9% -5.4% 0.0% Rosseti State Grid Changsha Tata Power Ltd RUS CHN IND 48.2 48.2 48.2 10.7% 1.8% 1.8% MAJOR PROGRESS GREEN ENERGY • Renewable Energy Penetration • EV Facilitation Jemena Toronto Hydro Ausgrid AUS CAN AUS 71.4 71.4 69.6 3.6% 7.1% 0.0% PLN Edenor Enel Dist Sao Paulo IDN ARG BRA 44.6 37.5 37.5 0.0 % 3.6% 3.6% BC Hydro CAN 69.6 5.4% Sarawak Energy MYS 37.5 5.4% Global : Asia-Pacific : Europe : North America : SECURITY • IT Cyber Security • OT Cyber Security CUSTOMER EMPOWERMENT & SATISFACTION • Real-Time Data to Customers • Customer Satisfaction Feedback EDP Eversource Guangzhou Power Chubu PRT USA CHN JPN 69.6 69.6 69.6 67.9 0.0% 8.9% 12.5% 0.0% Enel Dist Chile Disclaimer: We have arrived at the findings, opinions and conclusion set out in this paper based on application of our methodology to materials and information we believe to be accurate and reliable, and which are made available in the public domain at the time we carried out the relevant research and study. Despite our best efforts, the materials and information may include inaccuracies and errors. The findings, opinions and conclusion will be construed solely as statements of opinion on the matters addressed in this paper including the degree of grid smartness ratings and shall not in any way represent authoritative assessment or judgment on any such matters. You assume the sole risk of making use of and/or relying on the findings, opinions and conclusion made available in this paper. To the extent permitted by law, we disclaim liability to any person or entity for all and any liability, direct and indirect, special, consequential, incidental losses and damages whatsoever arising from or in connection with your access to or use of the findings, opinions and conclusions in this paper. Edesur City Power CHL ARG ZAF 35.7 30.4 21.4 12.5 % 8.9% 1.8%

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. 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 e

16 June 2020 FACTSHEET Households’ Electricity Consumption During the Circuit-Breaker Period Singapore households’ electricity consumption typically increases from April through August. This is because the weather tends to be hotter in these months, and households use more electricity to power their fans or air-conditioners to stay cool. 2 During the Circuit Breaker (CB) period, most Singaporeans have been staying, working, or studying from home. This, coupled with the hotter weather, has led to higher electricity usage as well. For example, we saw an average increase of 22% in daily household electricity consumption in May 2020, compared to February 2020. How Households Are Billed During the Circuit-Breaker Period 3 Under normal circumstances, SP Group will send meter readers to visit households to record their electricity, water and gas consumption every alternate month. From 7 April to 1 June 2020, SP Group suspended physical meter reading services in line with the safe distancing measures to minimise the transmission of Covid-19. 4 For households who do not have advanced electricity meters and also did not submit their own meter readings, their April and May consumption were estimated based on previous months’ consumption data. This would result in an underestimation of their bills for these months. When SP Group resumed its pre-CB physical meter reading routine from 2 June 2020, the accumulated underestimated amount of consumption will be adjusted in the June or July bill. Therefore, the June or July utility bills could be higher than the April and May bills. See below for the illustration. Illustration: For consumers whose electricity meters are read during odd months Page 1 of 3 5 About 300,000 households have advanced electricity meters, and their electricity consumption is read remotely. They would be billed based on their actual consumption for April and May. Support to Households 6 As part of the Budget 2020 Care and Support Package, eligible HDB households will receive double their regular GST Voucher U-Save this year, through a one-off GST Voucher U-Save Special Payment. Eligible households with five or more members will receive an additional GST Voucher – U-Save rebate. The next round of disbursement of the regular GST Voucher U-Save rebate and GST Voucher U-Save Special Payment will be in July 2020. The first disbursement of the additional GST Voucher U-Save rebate for eligible larger households with five or more members will be in October 2020. For more information, visit www.gstvoucher.gov.sg. 7 As part of the recently announced Fortitude Budget, each household with at least one Singapore Citizen will receive a one-off $100 Solidarity Utilities Credit for doing their part in staying home during the CB period. This amount will be credited in the July or August utilities bill with SP Group and covers all property types. 8 In support of the Government’s Resilience Budget 2020 measures to freeze all government fees and charges for one year, SP Group has deferred grid charges amounting to S$343 million and maintained its grid fee to customers. What Households Can Do to Be Billed According to Actual Consumption 9 Households are encouraged to submit their own meter readings so as to be billed based on their actual consumption. 10 They can submit their meter readings via the following channels: a) SP Utilities app - Download the app from spgrp.sg/mobileapp. Go to “Explore” and select “Submit Meter”. b) SP Utilities Portal - Log on to SP Utilities Portal at spgrp.sg/UPortal. Go to “Usage” and select “Submit Meter Readings”. c) WhatsApp - Take a photo of the meter (with the meter number and meter reading clearly shown) and send to 8482 8636. d) Email – Email the meter readings to customerreading@spgroup.com.sg. e) Automated Phone System – Call 1800 222 2333 to submit meter readings via the automated option. Page 2 of 3 11 Households can refer to their SP bills for their meter submission period (refer to image below). They can submit their meter readings up to three days (by 5pm) from the scheduled meter reading date. For those who have downloaded the SP Utilities app, they can also set an alert for their meter reading submission period. Page 3 of 3

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Emergency starter kits for all households By AUDREY TAN ALL households in Singapore will get three N95 masks delivered free to their homes from today, in the largest mask distribution exercise to date. They are part of an emergency starter kit which will be delivered to all 1.2 million households by Monday, said Temasek Cares yesterday. The non-profit, philanthropic arm of Temasek Holdings is partnering Singapore Power and Singapore Post for the $4 million programme. Aside from the 3M-manufactured masks, the kit will also contain information on how to wear the masks and emergency contact numbers. Temasek Cares chairman Richard Magnus said the programme hopes to spur Singaporeans into thinking about emergency preparedness. “The starter kit includes three N95 masks so that each household can have an initial stock in case of a flu pandemic or severe haze,” he said. “We hope (the kits) will prompt individuals and families to develop their own emergency plans.” Households with more than three people could consider buying more N95 masks, or bulk up their emergency “grab bags” by including medication or vitamins required by members of the family, Mr Magnus said. Being prepared could also mitigate the problem of people rushing to buy products, such as masks, during emergencies. Mr Magnus added: “Before the emergency arises, they would have already taken action so they are prepared – just like having an umbrella for a rainy day.” The starter kit initiative is the The emergency starter kit distribution exercise was symbolically flagged off yesterday at the Singapore Power training institute. Present were (from left, by the van) Singapore Power chairman Mohd Hassan Marican, Temasek Cares chairman Richard Magnus, Singapore Post’s executive vice-president and head of postal services Woo Keng Leong, and 3M Singapore’s general manager of safety and graphics group Helen Foo, and Singapore Power and Singapore Post staff. The distribution exercise starts today. PHOTO: LIM YAOHUI FOR THE STRAITS TIMES second project to tap the $40 million Temasek Emergency Preparedness Fund launched in March. The first is a $1.5 million programme to train 60 social workers, therapists and school counsellors in trauma-focused therapy for children. The fund, administered by Temasek Cares under its Stay Prepared initiative, aims to help Singaporeans build up community resources to deal with emergencies. On top of the starter kits for households, 17,000 kits will go to 144 charities including the Metta Home for the Disabled and The Salvation Army Gracehaven. Another 300,000 will be on standby for needy families in case of a crisis. The mask distribution exercise is the largest to date. At the peak of the haze in June last year, one million N95 masks were earmarked for 200,000 of the poorest households and vulnerable Singaporeans. During the epidemic of severe acute respiratory syndrome (Sars) in 2003, two surgical masks and a thermometer were distributed to 1.1 million households. Communications officer Jaclyn Sim, 31, said organisers could consider giving masks only to low-income households as those who earn more “can easily get their own”. “To get Singaporeans thinking, a brochure with graphics depicting different emergency scenarios may be better,” she added. audreyt@sph.com.sg N95 masks can be stored for five years THE N95 masks that went on sale during the haze period last year can still be used as they have a shelf life of five years. But Ms Foo Meow Ling, a nurse clinician at the infection control unit at Khoo Teck Puat Hospital, said there should be “no air leakage around the face when the wearer exhales”. Ms Helen Foo, general manager at mask manufacturer and technology firm 3M, said: “After five years, the nose clip and elastic headband may loosen or disintegrate, leading to a poor face seal and affecting the effectiveness.” The masks should also be changed when “the wearer finds it hard to breathe, or when it is soiled or physically damaged”, she added. The N95 mask is “at least 95 per cent efficient against fine particles that are about 0.1 to 0.3 microns” in size, according to the Health Ministry’s website. It is 99.5 per cent efficient against larger particles, such as those 0.75 microns and above. This makes it effective for use against the PM2.5 particle, an air pollutant associated with vehicle emissions and the haze that is less than 2.5 microns in size. Masks should also be stored in their original packaging and in cool and dry conditions, said 3M’s Ms Foo. AUDREY TAN

SPPowerAssets Limited AnnualReport Yearended31March2025 RegistrationNumber:200302108D Directors’ statement SP PowerAssets Limited Directors’ statement Year ended 31 March 2025 We are pleased to submit this annual report to the member of SP PowerAssets Limited (the “Company”) together with the audited financial statements for the financial year ended 31 March 2025. Opinion of the Directors In our opinion, (a) (b) the financial statements set out are drawn up so as to give a true and fair view of the financial position of the Company as at 31 March 2025 and the financial performance, changes in equity and cash flows of the Company for the year ended on that date in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”); and at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due. Directors The directors in office at the date of this statement are as follows: Mr Stanley Huang Tian Guan Mrs Jeanne Cheng Ms Amelia Champion Ms Loong Hui Chee Mr Kenneth Soh Yew Chin Mr Lee Choon Kwee (appointed on 1 April 2025) Directors’ interests According to the register kept by the Company for the purposes of Section 164 of the Act, particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and infant children) in shares, debentures, warrants and share options in the Company and in related corporations are as follows: Name of director and related corporations in which interests (fully paid ordinary shares unless otherwise stated) are held Holdings at beginning of the year Holdings at end of the year Mr Stanley Huang Tian Guan Paragon REIT – units 323,000 323,000 Singapore Airlines Limited 10,000 10,000 SIA Engineering Company Limited 10,000 10,000 Astrea 7 Pte Ltd - 4.125% Class A-1 Secured Bonds due 27 May 2032 (units) 40,000 40,000 CapitaLand China Trust – units 100,000 100,000 Astrea 8 Pte Ltd - 4.35% Class A-1 Secured Bonds due 19 July 2039 − S$38,000 Mapletree Industrial Trust – units − 150,000 1 SP PowerAssets Limited Directors’ statement Year ended 31 March 2025 Name of director and related corporations in which interests (fully paid ordinary shares unless otherwise stated) are held Holdings at beginning of the year Holdings at end of the year Mrs Jeanne Cheng Singapore Telecommunications Limited 11,180 11,180 Singapore Technologies Engineering Ltd 10,000 10,000 Astrea 8 Pte Ltd - 6.35% Class A-2 Secured Bonds due 19 July 2039 − US$30,000 Ms Amelia Champion CapitaLand Ascott Trust – units 285 285 CapitaLand Investment Limited 5,000 5,000 CapitaLand Integrated Commercial Trust – units 773 3,900 Paragon REIT – units 3,128 3,128 Mapletree Treasury Services Limited - MAPLSP 3.7% Perpetual Bond S$250,000 S$250,000 Singapore Airlines Limited - 5.25% Bonds due 21 March 2034 US$200,000 US$200,000 Singapore Telecommunications Limited 1,430 1,430 Ms Loong Hui Chee Astrea 8 Pte Ltd - 4.35% Class A-1 Secured Bonds due 19 July 2039 − S$100,000 CapitaLand Ascendas Real Estate Investment Trust – units 14,615 14,615 CapitaLand Ascott Trust – units 160,388 160,388 CapitaLand Investment Limited 21,531 21,531 CapitaLand Integrated Commercial Trust – units 69,043 69,043 Mapletree Treasury Services Limited - 3.95% Perpetual Bond S$250,000 S$250,000 Singapore Airlines Limited 20,669 20,669 Singapore Technologies Engineering Ltd 1,495 1,495 Singapore Telecommunications Limited 117,108 117,108 Except as disclosed in this statement, no director who held office at the end of the financial year had interests in shares, debentures, warrants or share options of the Company, or of related corporations, either at the beginning of the financial year, or at the end of the financial year. Neither at the end of, nor at any time during the financial year, was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company to acquire benefits by means of the acquisition of shares or debentures of the Company or any other body corporate. 2 SP PowerAssets Limited Directors’ statement Year ended 31 March 2025 Share options During the financial year, there were: (i) (ii) no options granted by the Company to any person to take up unissued shares in the Company; and no shares issued by virtue of any exercise of option to take up unissued shares of the Company. As at the end of the financial year, there were no unissued shares of the Company under option. On behalf of the Board of Directors ──────────────────────── MR STANLEY HUANG TIAN GUAN Chairman ──────────────────────── MS LOONG HUI CHEE Director 23 May 2025 3 Independent Auditor’s Report For the financial year ended 31 March 2025 Independent Auditor’s Report to the Member of SP PowerAssets Limited Report on the Audit of the Financial Statements Opinion We have audited the accompanying financial statements of SP PowerAssets Limited (the “Company”) which comprise the balance sheet as at 31 March 2025, the income statement, statement of comprehensive income, statement of changes in equity and statement of cash flows for the financial year then ended, and notes to the financial statements, including material accounting policy information. In our opinion, the accompanying financial statements of the Company are properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view of the financial position of the Company as at 31 March 2025 and of the financial performance, changes in equity and cash flows of the Company for the year ended on that date. Basis for Opinion We conducted our audit in accordance with Singapore Standards on Auditing (“SSAs”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Accounting and Corporate Regulatory Authority (“ACRA”) Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities (“ACRA Code”) together with the ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For the matter below, our description of how our audit addressed the matter is provided in that context. 4 SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2025 We have fulfilled our responsibilities described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report, including in relation to the matter. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matter below, provide the basis for our audit opinion on the accompanying financial statements. Goodwill impairment review The Company has recorded an asset of $2,166.8 million which represents goodwill on the acquisition of the transmission business as discussed in Note 6. The goodwill balance is reviewed annually for impairment based on fair value which is determined by discounting expected future cash flows as discussed in Note 6. The assessment of fair value requires significant management judgement in establishing future cash flows, the terminal value and the discount rate. Our audit procedures included assessing the key assumptions used in arriving at the fair value, including the terminal value, forecast future cash flows, and the discount rate. In performing our audit procedures, we assessed the reasonableness of cash flow projections by assessing the reliability of management’s budgeting process, the Company’s own historical data and performance and the market and economic conditions prevailing at the reporting date. In relation to other key inputs, such as the terminal value and discount rate, we compared these inputs to externally available industry, economic and financial data. We further reviewed the adequacy of the disclosure in the financial statements in Note 6 of the financial statements. Other Information Management is responsible for other information. The other information comprises the directors’ statement. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 5 SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2025 Responsibilities of Management and Directors for the Financial Statements Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the provisions of the Act and SFRS(I), and for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair financial statements and to maintain accountability of assets. In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The directors’ responsibilities include overseeing the Company’s financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. 6 SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2025 • Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Report on Other Legal and Regulatory Requirements In our opinion, the accounting and other records required by the Act to be kept by the Company have been properly kept in accordance with the provisions of the Act. The engagement partner on the audit resulting in this independent auditor’s report is Philip Ling Soon Hwa. Ernst & Young LLP Public Accountants and Chartered Accountants Singapore 23 May 2025 7 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Balance sheet As at 31 March 2025 Note 2025 2024 $ million $ million Non-current assets Property, plant and equipment 4 11,623.8 11,128.5 Intangible assets 6 2,177.6 2,177.2 Derivative assets 7 10.7 52.6 13,812.1 13,358.3 Current assets Inventories 8 34.1 31.4 Trade and other receivables 9 430.6 402.9 Derivative assets 7 14.9 27.7 Cash and cash equivalents 10 # # 479.6 462.0 Total assets 14,291.7 13,820.3 Regulatory deferral accounts (“RDA”) debit balances and related deferred tax assets 11 18.3 80.0 Total assets and RDA debit balances 14,310.0 13,900.3 Equity Share capital 12 2,512.4 2,512.4 Hedging reserve 13 (5.7) 47.5 Accumulated profits 3,033.6 2,828.5 Total equity 5,540.3 5,388.4 Non-current liabilities Debt obligations 14 1,192.1 2,068.7 Derivative liabilities 7 100.0 208.2 Deferred tax liabilities 15 1,464.6 1,474.9 Deferred income 16 107.1 115.9 Deferred construction cost compensation 17 256.2 256.2 Lease liabilities 5 0.1 0.2 3,120.1 4,124.1 Current liabilities Debt obligations 14 927.5 199.5 Derivative liabilities 7 73.0 99.5 Current tax payable 164.9 119.3 Trade and other payables 18 4,376.3 3,952.0 Lease liabilities 5 0.1 3.9 5,541.8 4,374.2 Total liabilities 8,661.9 8,498.3 Total equity and liabilities 14,202.2 13,886.7 RDA credit balances and related deferred tax liabilities 11 107.8 13.6 Total equity, liabilities and RDA related deferred tax liabilities 14,310.0 13,900.3 # Less than $0.1 million The accompanying notes form an integral part of these financial statements. 8 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Income statement Year ended 31 March 2025 Note 2025 2024 $ million $ million Revenue 19 2,185.8 1,960.7 Other income 20 101.5 80.0 Expenses - Depreciation of property, plant and equipment 4 (723.9) (670.2) - Amortisation of intangible assets 6 (1.6) (1.1) - Maintenance (130.5) (122.1) - Management fees (166.6) (159.8) - Property taxes (66.4) (60.9) - Agency fee (31.9) (30.4) - Support services (35.1) (36.5) - Other operating expenses (64.0) (61.4) Operating profit 1,067.3 898.3 Finance income 21 5.7 0.3 Finance costs 22 (169.3) (147.6) Profit before taxation 903.7 751.0 Tax expense 23 (165.6) (134.6) Profit for the year 24 738.1 616.4 Net movement in RDA balances related to profit or loss and the related deferred tax movement 11 (155.9) (111.5) Profit for the year and net movement in RDA balances 582.2 504.9 The accompanying notes form an integral part of these financial statements. 9 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Statement of comprehensive income Year ended 31 March 2025 2025 2024 $ million $ million Profit for the year and net movement in RDA balances 582.2 504.9 Other comprehensive income Items that are or may be reclassified subsequently to profit or loss: Effective portion of changes in fair value of cash flow hedges, net of tax (6.0) 22.4 Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax (51.5) (69.7) - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax 4.3 1.7 Other comprehensive income for the year, net of tax (53.2) (45.6) Total comprehensive income for the year 529.0 459.3 The accompanying notes form an integral part of these financial statements. 10 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Statement of changes in equity Year ended 31 March 2025 Share Hedging Accumulated Total capital reserve profits equity Note $ million $ million $ million $ million At 1 April 2023 2,512.4 93.1 2,694.6 5,300.1 Total comprehensive income for the year Profit for the year and net movement in RDA balances − − 504.9 504.9 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax − 22.4 − 22.4 Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax − (69.7) − (69.7) - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax − 1.7 − 1.7 Total other comprehensive income − (45.6) − (45.6) Total comprehensive income for the year − (45.6) 504.9 459.3 Transaction with owner, recognised directly in equity Contributions by and distribution to owner Dividends declared 29 − − (371.0) (371.0) At 31 March 2024 2,512.4 47.5 2,828.5 5,388.4 The accompanying notes form an integral part of these financial statements. 11 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Statement of changes in equity Year ended 31 March 2025 (cont'd) Share Hedging Accumulated Total capital reserve profits equity Note $ million $ million $ million $ million At 1 April 2024 2,512.4 47.5 2,828.5 5,388.4 Total comprehensive income for the year Profit for the year and net movement in RDA balances − − 582.2 582.2 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax − (6.0) − (6.0) Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax − (51.5) − (51.5) - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax − 4.3 − 4.3 Total other comprehensive income − (53.2) − (53.2) Total comprehensive income for the year − (53.2) 582.2 529.0 Transaction with owner, recognised directly in equity Contributions by and distribution to owner Dividends declared 29 − − (377.1) (377.1) At 31 March 2025 2,512.4 (5.7) 3,033.6 5,540.3 The accompanying notes form an integral part of these financial statements. 12 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Statement of cash flows Year ended 31 March 2025 2025 2024 Note $ million $ million Cash flows from operating activities Profit for the year and net movement in RDA balances 582.2 504.9 Adjustments for: Tax expense 23 165.6 134.6 Depreciation and amortisation 4,6 725.5 671.3 (Gain)/loss on disposal of property, plant and equipment and intangible assets 24 (0.1) 0.1 Deferred income 16 (8.8) (9.0) Inventories written down, net 8 3.7 9.6 Write-back of allowance for expected credit loss on trade receivables, net 9 − (1.4) Finance income 21 (5.7) (0.3) Finance costs 22 169.3 147.6 Exchange loss/(gain), net 24 1.2 (1.2) Net movements in RDA balances related to profit or loss and the related deferred tax movement 11 155.9 111.5 1,788.8 1,567.7 Changes in working capital: Inventories (6.4) (3.7) Trade and other receivables (31.2) (61.9) Trade and other payables 25.5 (41.7) Cash generated from operations 1,776.7 1,460.4 Interest received 0.2 0.3 Income tax paid (119.4) (82.4) Net cash generated from operating activities 1,657.5 1,378.3 Cash flows from investing activities Purchase of property, plant and equipment (1,159.4) (975.5) Purchase of intangible assets (2.0) (7.2) Proceeds from disposal of property, plant and equipment and intangible assets 1.2 5.2 Net cash used in investing activities (1,160.2) (977.5) Cash flows from financing activities Interest paid (37.8) (39.8) Repayment of bond (305.0) − (Repayment of)/proceeds from related company loans 226.5 (357.5) Dividend paid 29 (377.1) − Payment of principal portion of lease liabilities 5 (3.9) (3.6) Net cash used in financing activities (497.3) (400.9) Net decrease in cash and cash equivalents # (0.1) Cash and cash equivalents at beginning of the year # 0.1 Cash and cash equivalents at end of the year 10 # # # Less than $0.1 million In 2024, tax-exempt dividend declared to the immediate holding company in relation to the financial year ended 31 March 2023 of $371.0 million was settled via loans from a related company. The accompanying notes form an integral part of these financial statements. 13 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Notes to the financial statements These notes form an integral part of the financial statements. The financial statements were authorised for issue by the Board of Directors on 23 May 2025. 1 Domicile and activities SP PowerAssets Limited (the “Company”) is incorporated in the Republic of Singapore and has its registered office at 2 Kallang Sector, SP Group Building, Singapore 349277. The principal activities of the Company are those relating to the provision of services in connection with the transmission and distribution of electricity. The immediate and ultimate holding companies are Singapore Power Limited and Temasek Holdings (Private) Limited respectively. Both companies are incorporated in the Republic of Singapore. 2 Basis of preparation 2.1 Statement of compliance The financial statements have been prepared in accordance with the Singapore Financial Reporting Standards (International) (“SFRS(I)”). 2.2 Basis of measurement The financial statements have been prepared on the historical cost basis except as disclosed in the accounting policies set out below. 2.3 Functional and presentation currency The financial statements are presented in Singapore dollars, which is the Company’s functional currency. All financial information presented in Singapore dollars has been rounded to the nearest 0.1 million, unless otherwise stated. 2.4 Use of estimates and judgements The preparation of financial statements in conformity with SFRS(I) requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying amounts of assets and liabilities that are not readily apparent from other sources. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. 14 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Information about critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements is discussed below: Impairment of goodwill and indefinite-lived intangible assets Impairment reviews in respect of goodwill and intangible assets are performed at least annually. More regular reviews are performed if changes in circumstances or the occurrence of events indicate potential impairment. The Company uses the present value of future cash flows to determine the recoverable amounts of the cash generating units. In calculating the recoverable amounts, significant management judgement is required in forecasting cash flows of the cash generating units, in estimating the terminal growth values and in selecting an appropriate discount rate. Details of key assumptions made are set out in Note 6. Regulatory deferral accounts Regulatory deferral account debit or credit balances represent timing differences between revenue recognised for financial reporting purposes (as set out in Note 3.13) and revenue earned for regulatory purposes. Revenue earned for regulatory purposes is estimated based on the revenue allowed by the Energy Market Authority (“EMA”) (in accordance with the price regulation framework), taking into consideration the services rendered and volume of electricity delivered to consumers. Note 3.11 sets out the accounting policy for regulatory deferral accounts. 2.5 Changes in accounting policies Adoption of new and revised SFRS(I)s and Interpretation to SFRS(I) The accounting policies adopted are consistent with those of the previous financial year except that in the current financial year, the Company has adopted all the new and revised standards which are effective for annual financial periods beginning on or after 1 April 2024. The adoption of these standards did not have a material effect on the financial performance or position of the Company. 3 Material accounting policy information The accounting policies set out below have been applied consistently for all periods presented in these financial statements, and have been consistently applied by the Company. 15 SP PowerAssets Limited Financial statements Year ended 31 March 2025 3.1 Foreign currencies Foreign currency transactions Transactions in foreign currencies are translated to the functional currency of the Company at the exchange rate at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at the reporting date. The foreign currency gain or loss on monetary items is the difference between amortised cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortised cost in foreign currency translated at the exchange rate at the end of the year. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are translated to the functional currency at the exchange rate prevailing on the date which the fair value was determined. Nonmonetary items in a foreign currency that are measured in terms of historical cost are translated using the exchange rate at the date of the transaction. Foreign currency differences arising on translation are recognised in profit or loss, except for differences arising on the translation of qualifying cash flow hedges, which are recognised in other comprehensive income. 3.2 Property, plant and equipment Recognition and measurement Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the asset to a working condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located and capitalised borrowing cost. Capitalisation of borrowing costs will cease when the asset is ready for its intended use. Cost may also include transfers from equity of any gain or loss on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. The gain or loss on disposal of an item of property, plant and equipment is determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment, and is recognised net within other income/other operating expenses in profit or loss. 16 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Subsequent costs The cost of replacing a component of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the component will flow to the Company, and its cost can be measured reliably. The carrying amount of the replaced component is derecognised. The costs of the day-to-day servicing of property, plant and equipment are recognised in profit or loss as incurred. Depreciation Depreciation is based on the cost of an asset less its residual value. Significant components of individual assets are assessed and if a component has a useful life that is different from the remainder of that asset, that component is depreciated separately. Depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment. Freehold land and constructionin-progress are not depreciated. The estimated useful lives for the current and comparative periods are as follows: Leasehold land Buildings and tunnels Transformers and switchgear Other plant and machinery - Works and other equipment 3 to 10 years - Standby electricity generator and other machinery 15 to 30 years Mains 30 years Other fixed assets (principally meters and motor vehicles) 3 to 10 years Over the term of the lease ranging from 20 to 99 years 30 to 40 years or the lease term, if shorter 30 years Depreciation methods, useful lives and residual values are reviewed at each financial year end and adjusted if appropriate. 3.3 Intangible assets Goodwill Goodwill arising from acquisition represents the excess of the cost of acquisition over the fair value of identifiable net assets acquired. Subsequent measurement Goodwill is measured at cost less accumulated impairment losses and is tested for impairment on an annual basis as described in Note 3.5. Other intangible assets Computer software is stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful life of 5 years. 17 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Computer software development in-progress is stated at cost. No amortisation is provided until it is ready for use. 3.4 Financial instruments Non-derivative financial assets Initial recognition and measurement Financial assets are recognised when, and only when the entity becomes party to the contractual provisions of the instruments. At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. Trade receivables are measured at the amount of consideration to which the Company expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third party, if the trade receivables do not contain a significant financing component at initial recognition. Subsequent measurement Investments in debt instruments Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the contractual cash flow characteristics of the asset. Financial assets that are held for the collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Financial assets are measured at amortised cost using the effective interest method, less impairment. Gains and losses are recognised in profit or loss when the assets are derecognised or impaired, and through the amortisation process. Derecognition The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Company neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Cash and cash equivalents Cash and cash equivalents comprise cash balances and bank deposits. Non-derivative financial liabilities Initial recognition and measurement 18 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Financial liabilities are recognised when, and only when, the Company becomes a party to the contractual provisions of the financial instrument. The Company determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value plus in the case of financial liabilities not at fair value through profit or loss, directly attributable transaction costs. For financial liabilities at fair value through profit or loss, directly attributable transaction costs are recognised in profit or loss as incurred. Subsequent measurement After initial recognition, financial liabilities that are not carried at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. Gains and losses are recognised in profit or loss when the liabilities are derecognised, and through the amortisation process. Financial liabilities at fair value through profit or loss are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. On derecognition, the difference between the carrying amounts and the consideration paid is recognised in profit or loss. Offsetting Financial assets and liabilities are offset and the net amount presented on the balance sheet when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. The rights of offset must not be contingent on a future event and must be enforceable in the event of bankruptcy or insolvency of all the counterparties to the contract. Ordinary shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Derivative financial instruments and hedge accounting The Company holds derivative financial instruments to hedge its foreign currency and interest rate risk exposures. Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. Derivatives are initially measured at fair value and any directly attributable transaction costs are recognised in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognised in profit or loss. The Company designates certain derivatives and non-derivative financial instruments as hedging instruments in qualifying hedging relationships. At inception of designated hedging relationships, the Company documents the risk management objective and strategy for undertaking the hedge. The Company also documents the economic relationship between the hedged item and the hedging instrument, including whether the changes in cash flows of the hedged item and hedging instrument are expected to offset each other. 19 SP PowerAssets Limited Financial statements Year ended 31 March 2025 The Company applies hedge accounting for certain hedging relationships which qualify for hedge accounting. For the purpose of hedge accounting, hedges are classified as: • cash flow hedges when hedging exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset or liability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitment; or • fair value hedges when hedging the exposure to changes in fair value of a recognised asset or liability or an unrecognised firm commitment Cash flow hedges When a derivative is designated as the hedging instrument in a hedge of the variability in cash flows attributable to a particular risk associated with a recognised asset or liability or a highly probable forecast transaction that could affect profit or loss, the effective portion of changes in the fair value of the derivative is recognised in other comprehensive income and presented in the hedging reserve in equity. Any ineffective portion of changes in the fair value of the derivative is recognised immediately in profit or loss. When the hedged item is a non-financial asset, the amount accumulated in equity is included in the carrying amount of the asset when the asset is recognised. In other cases, the amount accumulated in equity is reclassified to profit and loss in the same period that the hedged item affects profit or loss. If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated or exercised, or the designation is revoked, then hedge accounting is discontinued prospectively. When a cash flow hedge is discontinued, the cumulative gain or loss previously recognised in other comprehensive income will remain in the cash flow hedge reserve until the future cash flows occur if the hedged future cash flows are still expected to occur or reclassified to profit or loss immediately if the hedged future cash flows are no longer expected to occur. Fair value hedges Changes in the fair value of a derivative hedging instrument designated as a fair value hedge are recognised in profit or loss. The hedged item is adjusted to reflect changes in its fair value in respect of the risk being hedged; the gain or loss attributable to the hedged risk is recognised in profit or loss with an adjustment to the carrying amount of the hedged item. 3.5 Impairment Non-derivative financial assets The Company recognises an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss and financial guarantee contracts. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. 20 SP PowerAssets Limited Financial statements Year ended 31 March 2025 ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is recognised for credit losses expected over the remaining life of the exposure, irrespective of timing of the default (a lifetime ECL). For trade receivables and contract assets, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company considers a financial asset potentially in default when contractual payments are 180 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. Non-financial assets The carrying amounts of the Company’s non-financial assets, other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset’s recoverable amount is estimated. For goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, recoverable amount is estimated each year at the same time. An impairment loss is recognised if the carrying amount of an asset or its related cash-generating unit (“CGU”) exceeds its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGU. Subject to an operating segment ceiling test, for the purposes of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis. 21 SP PowerAssets Limited Financial statements Year ended 31 March 2025 An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. Such reversal of impairment is recognised in profit or loss. 3.6 Accrued revenue Revenue accrual estimates are made to account for the unbilled amount at the reporting date. 3.7 Provisions A provision is recognised if, as a result of past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. 3.8 Government grants Capital grants are recognised on a straight-line basis and taken to profit or loss over the periods necessary to match the depreciation of the assets purchased with the government grants. Operating grants are presented within other income and are taken to profit or loss on a systematic basis in the same periods in which the expenses are incurred. 3.9 Deferred construction cost compensation Deferred construction cost compensation received to defray costs relating to the construction of an asset are accounted for as a government grant. Note 3.8 sets out the government grant accounting policy. 3.10 Deferred income Deferred income comprises (i) government grant for the purchase of depreciable assets and (ii) contributions made by certain customers towards the cost of capital projects received prior to 1 July 2009. Government grants and customer contributions Deferred income is recognised on a straight-line basis and taken to profit or loss over the periods necessary to match the depreciation of the assets purchased with the government grants and customers’ contribution. 3.11 Regulatory deferral account (“RDA”) debit or credit balances Use of system charges Regulatory deferral account debit or credit balances represent timing differences between revenue recognised for financial reporting purposes and revenue earned for regulatory purposes. 22 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Movements in the regulatory deferral account debit or credit balances are recognised in profit or loss over the periods necessary to adjust revenue recognised for financial reporting purposes to revenue earned for regulatory purposes based on services rendered. At the end of each regulatory period, adjustments for amounts to be recovered or refunded are taken to profit or loss as net movement in regulatory deferral account balances. 3.12 Price regulation and licence The Company’s operations in Singapore are regulated under the Electricity Licence for Transmission Licensee issued by the EMA of Singapore. Allowed revenue to be earned from the transmission of electricity is regulated based on certain formulae and parameters set out in the licence, relevant acts and codes. Revenue recognised for financial reporting purposes may differ from revenue earned for regulatory purposes due to volume variances. This may result in adjustments that may increase or decrease tariffs in succeeding periods. Amounts to be recovered or refunded are brought to account as adjustments to net movement in regulatory deferral account debit or credit balances in the income statement in the period in which the Company becomes entitled to the recovery or liable for the refund. The Company’s capital expenditure may differ from its regulatory plan and is subject to a review by the EMA. The results of the variances in capital expenditure may be translated into price adjustments, if any, in the following reset period. The use of system charges are approved by the EMA for a 5-year regulatory period in accordance with the price regulation framework. 3.13 Revenue recognition Revenue is measured based on the consideration to which the Company expects to be entitled in exchange for transferring promised services to a customer, excluding amounts collected on behalf of third parties. Revenue is recognised when the Company satisfies a performance obligation by transferring the promised service to the customer, which is when the customer obtains control of the service. A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognised is the amount allocated to the satisfied performance obligation. Use of system charges Revenue for financial reporting purposes is recognised over time based on tariff billings to customers when the volume of electricity is delivered. 3.14 Leases The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. 23 SP PowerAssets Limited Financial statements Year ended 31 March 2025 As lessor Leases in which the Company does not transfer substantially all the risks and rewards of ownership of the asset are classified as operating leases. Initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognised over the lease term. Rental income under operating leases are recognised in profit or loss over the term of the lease. As lessee The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Company recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. (i) Right-of-use assets The Company recognises right-of-use assets at the commencement or on modification date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. Refer to Note 3.5 for the accounting policy. (ii) Lease liabilities At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. 24 SP PowerAssets Limited Financial statements Year ended 31 March 2025 In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. (iii) Short-term leases The Company applies the short-term lease recognition exemption to its short-term leases of leasehold land (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). Lease payments on short-term leases are recognised as expense on a straight-line basis over the lease term. 3.15 Finance income and costs Finance income comprises interest income on funds invested. Interest income is recognised as it accrues, using the effective interest method. Finance costs comprise interest expense on borrowings, unwinding of the discount on provisions, fair value gains or losses on financial assets and liabilities at fair value through profit or loss, impairment losses recognised on financial assets (other than trade receivables), gains or losses on hedging instruments that are recognised in profit or loss, amortisation of transaction costs capitalised and interest expense on lease liabilities. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognised in profit or loss using the effective interest method. 3.16 Tax expense Tax expense comprises current and deferred tax. Current and deferred taxes are recognised in profit or loss except to the extent that it relates to items recognised directly in equity or in the other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognised for: - temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and at the time of the transaction (i) affects neither accounting nor taxable profit or loss and (ii) does not give rise to equal taxable and deductible temporary differences; and - taxable temporary differences arising on the initial recognition of goodwill. 25 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. In determining the amount of current and deferred tax, the Company takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. The Company believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of many factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve a series of judgements about future events. New information may become available that causes the Company to change its judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact tax expense in the period that such a determination is made. The movement in a deferred tax asset or liability that arises from the temporary differences created as a result of recognising regulatory deferral account balances are presented in the income statement net of the movement in regulatory deferral account balances related to profit or loss. 3.17 Segment reporting The Company determines and presents operating segments based on the information that is provided internally to the chief operating decision maker. The Company has only one operating segment – electricity transmission and distribution, and hence no separate disclosures are made in the financial statements. 26 SP PowerAssets Limited Financial statements Year ended 31 March 2025 3.18 New standards and interpretations not yet adopted A number of new amendments to standards that have been issued but not yet effective have not been early adopted in preparing these financial statements. Other than as described below, the new standards, amendments to standards and interpretations to SFRS(I)s are not expected to have a significant impact on the Company’s financial statements. SFRS(I) 18: Presentation and Disclosure in Financial Statements SFRS(I) 18 will replace SFRS(I) 1-1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. The new standard introduces the following key new requirements: • Entities are required to classify all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. Entities are also required to present a newly-defined operating profit subtotal. Entities’ net profit will not change. • Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements. • Enhanced guidance is provided on how to group information in the financial statements. In addition, all entities are required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method. The Company is still in the process of assessing the impact of the new standard on the primary financial statements and notes to the financial statements. 27 SP PowerAssets Limited Financial statements Year ended 31 March 2025 4 Property, plant and equipment Freehold land Leasehold land Buildings and tunnels Switchgear Transformers Other plant and machinery Mains Other fixed assets Construction -in-progress Total $ million $ million $ million $ million $ million $ million $ million $ million $ million $ million Cost At 1 April 2023 0.3 504.2 1,879.5 3,503.4 1,937.5 621.6 7,795.6 291.2 1,561.7 18,095.0 Additions − − − − − 2.9 − 25.6 1,017.0 1,045.5 Disposals − (48.4) (0.3) (61.4) (23.9) (52.1) (3.3) (6.6) − (196.0) Reclassification − 4.5 34.0 100.4 114.1 54.3 323.3 33.8 (664.4) − At 31 March 2024 0.3 460.3 1,913.2 3,542.4 2,027.7 626.7 8,115.6 344.0 1,914.3 18,944.5 Additions − 0.3 − 0.2 − 2.1 − 59.7 1,154.9 1,217.2 Disposals − − (7.1) (144.2) (15.9) (5.9) (196.0) (18.9) − (388.0) Transfers − − − 96.5 − − − − − 96.5 Reclassification − 14.8 144.3 331.4 219.0 66.0 674.5 4.3 (1,454.3) − At 31 March 2025 0.3 475.4 2,050.4 3,826.3 2,230.8 688.9 8,594.1 389.1 1,614.9 19,870.2 Accumulated depreciation At 1 April 2023 − 192.8 810.3 1,924.1 765.3 378.4 3,086.8 178.8 − 7,336.5 Depreciation − 10.0 70.1 156.0 71.2 55.3 273.8 33.8 − 670.2 Disposals − (48.3) (0.3) (58.2) (22.0) (52.1) (3.3) (6.5) − (190.7) At 31 March 2024 − 154.5 880.1 2,021.9 814.5 381.6 3,357.3 206.1 − 7,816.0 Depreciation − 11.0 81.1 164.0 86.1 59.4 287.5 34.8 − 723.9 Disposals − − (7.1) (143.8) (15.6) (5.6) (196.0) (18.8) − (386.9) Transfers − − − 93.4 − − − − − 93.4 At 31 March 2025 − 165.5 954.1 2,135.5 885.0 435.4 3,448.8 222.1 − 8,246.4 Carrying amounts At 31 March 2024 0.3 305.8 1,033.1 1,520.5 1,213.2 245.1 4,758.3 137.9 1,914.3 11,128.5 At 31 March 2025 0.3 309.9 1,096.3 1,690.8 1,345.8 253.5 5,145.3 167.0 1,614.9 11,623.8 28 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Expenses capitalised The following expenses were capitalised in property, plant and equipment during the year: 2025 2024 $ million $ million Management fees (staff cost) 103.5 96.0 As at 31 March 2025, property, plant and equipment includes right-of-use assets of $310.1 million (2024: $309.8 million) relating to leasehold land, building and office under leasing arrangements. Details are presented in Note 5. 5 Right-of-use assets/ Lease liabilities Set out below are the carrying amounts of right-of-use assets recognised within property, plant and equipment and the movements during the year: Leasehold Buildings and land tunnels Total $ million $ million $ million At 1 April 2023 311.4 7.8 319.2 Disposals (0.1) − (0.1) Reclassification 4.5 − 4.5 Depreciation (10.0) (3.8) (13.8) At 31 March 2024 305.8 4.0 309.8 Additions 0.3 − 0.3 Reclassification 14.8 − 14.8 Depreciation (11.0) (3.8) (14.8) At 31 March 2025 309.9 0.2 310.1 Set out below are the carrying amounts of lease liabilities (included under trade and other payables) and the movements during the year: 2025 2024 $ million $ million At 1 April 4.1 7.8 Lease modification − − Accretion of interest 0.1 0.2 Payments (4.0) (3.9) At 31 March 0.2 4.1 Current 0.1 3.9 Non-current 0.1 0.2 0.2 4.1 The maturity analysis of lease liabilities is disclosed in Note 26. 29 SP PowerAssets Limited Financial statements Year ended 31 March 2025 The following are the amounts recognised in profit or loss: 2025 2024 $ million $ million Depreciation expense of right-of-use assets 14.8 13.8 Interest expense on lease liabilities 0.1 0.2 Expenses relating to short-term leases (included in other operating expenses) 0.3 0.4 15.2 14.4 The Company had total cash outflow for leases of $4.3 million (2024: $4.3 million) for the financial year ended 31 March 2025. 6 Intangible assets Goodwill on acquisition Deferred expenditure Computer software Computer software development in-progress Total $ million $ million $ million $ million $ million Cost At 1 April 2023 2,166.8 112.2 40.0 1.4 2,320.4 Additions − 0.7 − 6.6 7.3 Disposals − − (0.1) − (0.1) Reclassifications − − 0.2 (0.2) − At 31 March 2024 2,166.8 112.9 40.1 7.8 2,327.6 Additions − 1.6 − 3.5 5.1 Disposals − (17.9) − − (17.9) Transfers − (96.6) 0.1 − (96.5) Reclassifications − − 3.5 (3.5) − At 31 March 2025 2,166.8 − 43.7 7.8 2,218.3 Accumulated amortisation At 1 April 2023 − 110.0 39.4 − 149.4 Amortisation − 0.6 0.5 − 1.1 Disposals − − (0.1) − (0.1) At 31 March 2024 − 110.6 39.8 − 150.4 Amortisation − 0.8 0.8 − 1.6 Disposals − (17.9) − − (17.9) Transfers − (93.5) 0.1 − (93.4) At 31 March 2025 − − 40.7 − 40.7 Carrying amounts At 31 March 2024 2,166.8 2.3 0.3 7.8 2,177.2 At 31 March 2025 2,166.8 − 3.0 7.8 2,177.6 30 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Impairment test for goodwill The Company as a whole is considered a CGU. The recoverable amount of the CGU is based on the higher of fair value less costs to sell and value in use. The recoverable amount of the CGU is determined to be higher than its carrying amount hence no impairment is necessary. Fair value is determined by discounting future cash flows generated from the continuing use of the CGU and is based on the following key assumptions: 1. Cash flows are projected based on a 5-year business plan. 2. Cash flows are discounted using a pre-tax discount rate of 7.04% (2024: 7.04%) per annum that reflects current market assessments of the time value of money and risks specific to the CGU. 3. Terminal value is calculated based on a multiple of 1.3 times (2024: 1.3 times) of the carrying amounts of property, plant and equipment. Expenses capitalised The following expenses were capitalised in intangible assets during the year: 2025 2024 $ million $ million Management fees (staff cost) 0.4 0.3 31 SP PowerAssets Limited Financial statements Year ended 31 March 2025 7 Derivative assets and liabilities 2025 2024 Outstanding Outstanding notional amounts Assets Liabilities notional amounts Assets Liabilities $ million $ million $ million $ million $ million $ million Current: Cross-currency interest rate swaps 996.0 − (69.4) 230.0 − (95.9) Interest rate swaps 1,210.7 13.1 − 1,188.5 25.9 (0.1) Foreign exchange forwards 187.8 1.8 (3.6) 218.4 1.8 (3.5) 14.9 (73.0) 27.7 (99.5) Non-current: Cross-currency interest rate swaps 923.2 − (89.2) 1,919.2 − (198.5) Interest rate swaps 1,623.2 10.7 (8.1) 1,560.7 52.5 (2.8) Foreign exchange forwards 45.2 # (2.7) 72.7 0.1 (6.9) 10.7 (100.0) 52.6 (208.2) # Less than $0.1 million 32 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Offsetting financial assets and financial liabilities The Company’s derivative transactions are entered into under International Swaps and Derivatives Association (“ISDA”) Master Agreements. The ISDA agreements create a right of set-off of recognised amounts that is enforceable only following an event of default, insolvency or bankruptcy of the Company or the counterparties. As such, these agreements do not meet the criteria for offsetting under SFRS(I) 1-32 Financial Instruments: Presentation. The Company and its counterparties do not intend to settle on a net basis or to realise the assets and settle the liabilities simultaneously but have the right to set off in the case of default and insolvency or bankruptcy. The Company’s financial assets and liabilities subject to an enforceable master netting arrangement that are not otherwise set-off are as follows: Types of financial assets / liabilities Gross amounts of recognised financial assets / liabilities Related amounts not offset in the balance sheet – financial instruments Net amounts $ million $ million $ million 2025 Derivative assets 25.6 (12.7) 12.9 2024 Derivative assets 80.3 (38.1) 42.2 2025 Derivative liabilities 173.0 (12.7) 160.3 2024 Derivative liabilities 307.7 (38.1) 269.6 33 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Hedge Accounting As at 31 March 2025 and 2024, the Company held various types of derivative financial instruments and formally designated a portion of them in cash flow and fair value hedge relationships for accounting purposes, in accordance with the requirements of SFRS(I) 9. The following table summarises the derivative financial instruments in the balance sheet and the effects of hedge accounting on the Company’s financial position and performance. Changes in fair value used for calculating ---- Hedge instrument ---- ----------------- Hedged item ----------------- ------------ hedge ineffectiveness ------------ Financial Carrying statement line Accumulated Hedge Outstanding amount of that includes amount of ineffectiveness notional Assets/ assets/ the hedged fair value Hedging Hedged recognised in amounts (liabilities) (liabilities) item adjustments instrument item profit or loss $ million $ million $ million $ million $ million $ million $ million Hedge rates Maturity (Year) 2025 Cash flow hedge Interest rate risk – Finance cost 4,403.1 (0.5) − − − 73.6 (73.6) − 0.4640% - 2.5450% Up to 2030 Foreign exchange risk – Refer to Note 26 under Foreign currency risk 233.0 (4.5) − − − 5.8 (5.8) − CHF/SGD: 1.471 - 1.577 CNY/SGD: 0.186 EUR/SGD: 1.409 - 1.653 JPY/SGD: 0.009 - 0.010 USD/SGD: 1.272 - 1.382 Up to 2026 Up to 2025 Up to 2028 Up to 2027 Up to 2028 Fair value hedge Interest rate risk 350.0 10.4 (359.7) Debt obligations (10.5) 12.8 (11.6) 1.2 6 month SORA Up to 2032 Foreign exchange risk 1,919.2 (152.8) (1,759.9) Debt obligations 157.4 48.3 (58.5) (10.2) Refer to footnotes of Note 14 Up to 2027 34 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Changes in fair value used for calculating ----- Hedge instrument ---- ----------------- Hedged item ----------------- ------------ hedge ineffectiveness ------------ Financial Carrying statement line Accumulated Hedge Outstanding amount of that includes amount of ineffectiveness notional Assets/ assets/ the hedged fair value Hedging Hedged recognised in amounts (liabilities) (liabilities) item adjustments instrument item profit or loss $ million $ million $ million $ million $ million $ million $ million Hedge rates Maturity (Year) 2024 Cash flow hedge Interest rate risk – Finance cost 4,473.4 69.4 − − − (63.5) 63.5 − 0.3900% - 1.3275% Up to 2027 Foreign exchange risk – Refer to Note 26 under Foreign currency risk 291.1 (8.5) − − − (5.2) 5.2 − CHF/SGD: 1.397 - 1.546 CNY/SGD: 0.186 - 0.193 EUR/SGD: 1.430 - 1.657 JPY/SGD: 0.009 - 0.013 MYR/SGD: 0.280 - 0.330 USD/SGD: 1.272 - 1.382 Up to 2025 Up to 2024 Up to 2028 Up to 2026 Up to 2024 Up to 2028 Fair value hedge Interest rate risk 425.0 (2.4) (423.1) Debt obligations 1.1 (0.9) 0.9 − 6 month Fall Back SOR/ SORA Up to 2032 Foreign exchange risk 2,149.2 (285.9) (1,845.1) Debt obligations 300.7 (9.4) 14.7 5.3 Refer to footnotes of Note 14 Up to 2027 35 SP PowerAssets Limited Financial statements Year ended 31 March 2025 8 Inventories 2025 2024 $ million $ million Cables 27.7 22.6 Transformers 0.6 1.8 Switchgear 3.8 5.2 Spare parts and accessories 2.0 1.8 34.1 31.4 In the financial year ended 31 March 2025, inventories recognised as an expense in the income statement amounted to $3.8 million (2024: $3.4 million). The write-down of inventories to net realisable value amounted to $3.7 million (2024: $9.6 million). The utilization of inventory obsolescence provision upon sale of the inventory items amounted to $2.3 million (2024: $0.7 million). 9 Trade and other receivables 2025 2024 $ million $ million Trade receivables: - Third parties 105.7 113.8 - Related companies 82.4 70.7 - Immediate holding company 7.5 − 195.6 184.5 Impairment loss (0.2) (0.2) 195.4 184.3 Accrued revenue 176.3 169.8 Deposits 0.2 0.4 371.9 354.5 Prepayments 58.7 48.4 430.6 402.9 Trade receivables The average credit term is between 8 to 30 calendar days (2024: between 8 to 30 calendar days). Collateral in the form of bank guarantees and deposits are obtained from counterparties where appropriate. There were no amounts called upon during the year. 36 SP PowerAssets Limited Financial statements Year ended 31 March 2025 The maximum exposure to credit risk for trade receivables at the reporting date by types of customer is as follows: 2025 2024 $ million $ million Contestable transmission/ distribution customers 149.5 138.3 Non-contestable transmission/ distribution customers 14.3 14.0 Project-based customers 22.3 28.5 Others 9.3 3.5 195.4 184.3 The Company provides for lifetime expected credit losses for all trade receivables using a provision matrix. The provision rates are determined based on the evaluation of collectability and ageing analysis of trade receivables and on the estimation of the management. A considerable amount of estimation is required in assessing the ultimate realisation of these receivables, including the current creditworthiness and the past collection history of each customer. The Company categorises trade receivables for potential write-off on the overdue trade receivables of customers that have failed to make contractual payments for more than 180 days. Where trade receivables have been impaired or written off, the Company continues to engage enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognised in profit or loss. The maximum exposure to credit risk for trade receivables by geographic region, relates mainly to Singapore at the reporting date. There is no significant concentration of credit risk of trade receivables. The Company has policies in place to monitor its credit risk. Contractual deposits are collected and sufficient collaterals are obtained to mitigate the risk of financial loss from defaults. The Company’s customers are spread across diverse industries and ongoing credit evaluation is performed on the financial condition of receivables to ensure minimal exposure to bad debts. The ageing of trade receivables at the reporting date is as follows: 2025 2024 $ million $ million Not past due 192.5 177.3 Past due 0-30 days 0.8 2.5 Past due 31-90 days 0.8 0.6 Past due 91-180 days 0.4 1.2 Past due more than 180 days 1.1 2.9 195.6 184.5 37 SP PowerAssets Limited Financial statements Year ended 31 March 2025 Expected credit losses The movement in allowance for expected credit losses of trade receivables computed based on lifetime ECL are as follows: 2025 2024 $ million $ million At 1 April 0.2 4.5 Impairment loss recognised 0.2 0.2 Impairment loss utilized − (2.9) Impairment loss written back (0.2) (1.6) At 31 March 0.2 0.2 Trade and other receivables are denominated predominantly in the functional currency of the Company. 10 Cash and cash equivalents 2025 2024 $ million $ million Cash at bank and in hand # # As at reporting date, cash and cash equivalents are denominated in the functional currency of the Company. # Less than $0.1 million 11 Regulatory deferral accounts 2025 2024 $ million $ million Net movement in RDA balances related to profit or loss (187.8) (134.3) RDA related deferred tax movement 31.9 22.8 Net movement in RDA balances related to profit or loss and the related deferred tax movement (155.9) (111.5) 38 SP PowerAssets Limited Financial statements Year ended 31 March 2025 RDA debit balances and related deferred tax assets At 1 April 2024 $ million Reclassification $ million Balances arising in the period $ million (Recovery)/ reversal $ million At 31 March 2025 $ million Deferral of revenue based on service rendered 80.7 (80.7) – – – Under recovery of volume variance (0.7) 0.7 – – – RDA related deferred tax assets – (13.6) (15.3) 47.2 18.3 80.0 (93.6) (15.3) 47.2 18.3 RDA credit balances and related deferred tax liabilities Deferral of revenue based on service rendered – 80.7 87.2 (276.8) (108.9) Under recovery of volume variance – (0.7) 2.9 (1.1) 1.1 RDA related deferred tax liabilities (13.6) 13.6 – – – (13.6) 93.6 90.1 (277.9) (107.8) At 1 April 2023 $ million Balances arising in the period $ million (Recovery)/ reversal $ million At 31 March 2024 $ million RDA debit balances Deferral of revenue based on service rendered 274.6 (36.9) (157.0) 80.7 Over recovery of volume variance (60.3) (1.0) 60.6 (0.7) 214.3 (37.9) (96.4) 80.0 RDA related deferred tax liabilities RDA related deferred tax liabilities (36.4) 6.4 16.4 (13.6) The recovery/reversal period of RDA debit and credit balances are directed by EMA. The Company is currently the sole electricity transmission and distribution company in Singapore. The EMA may not terminate the Company’s Transmission Licence except by giving 25 years’ notice, or otherwise revoking the Transmission Licence in accordance with the Electricity Act (including where the EMA is satisfied that the Company has gone into compulsory liquidation or voluntary liquidation other than for the purpose of amalgamation or reconstruction, or the public interest or security of Singapore requires). The Company therefore considers the exposure on recovery of regulatory deferral debit balances to be minimal. 39 SP PowerAssets Limited Financial statements Year ended 31 March 2025 12 Share capital 2025 2024 No. of shares No. of shares million million Ordinary shares Issued and fully-paid, with no par value At 1 April and 31 March 2,512.4 2,512.4 The holder of ordinary shares is entitled to receive dividends as declared from time to time and is entitled to one vote per share at meetings of the Company. All shares rank equally with regard to the Company’s residual assets. 13 Hedging reserve The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to highly probable forecast transactions. 2025 2024 $ million $ million Hedging reserves At beginning of year 47.5 93.1 Effective portion of changes in fair value of cash flow hedges: - Interest rate risks (6.5) 28.4 - Foreign exchange risks 0.5 (6.0) Net change in fair value of cash flow hedges reclassified to profit or loss, net of tax: - Interest rate risks (51.5) (69.7) Net change in fair value of cash flow hedges, on recognition of the hedged items on balance sheet, net of tax: - Foreign exchange risks 4.3 1.7 At end of year (5.7) 47.5 40 SP PowerAssets Limited Financial statements Year ended 31 March 2025 14 Debt obligations Principal amount Date of maturity 2025 2024 $ million $ million Fixed rate notes JPY 15 billion (1) April 2024 − 123.2 SGD 75 million May 2024 − 76.3 USD 700 million (2) November 2025 927.5 905.4 JPY 7 billion (3) October 2026 58.8 59.8 USD 600 million (4) September 2027 773.6 756.8 SGD 100 million May 2029 101.5 98.2 SGD 250 million September 2032 258.2 248.5 2,119.6 2,268.2 Current 927.5 199.5 Non-current 1,192.1 2,068.7 2,119.6 2,268.2 (1) JPY 15 billion swapped to SGD 230.0 million (2) USD 700 million swapped to SGD 996.0 million (3) JPY 7 billion swapped to SGD 114.7 million (4) USD 600 million swapped to SGD 808.5 million The debt obligations are on bullet repayment terms. Interest rates on debt obligations denominated in Singapore dollars range from 3.40% to 5.07% (2024: 3.40% to 5.07%) per annum. Interest rates on foreign currency debt obligations range from 1.95% to 3.25% (2024: 1.95% to 3.25%) per annum. 41 SP PowerAssets Limited Financial statements Year ended 31 March 2025 A reconciliation of liabilities arising from financing activities is as follows: 2024 --------------- Cash flows--------------- -----------------------------------------Non-cash changes----------------------------------------- 2025 Proceeds $ million Repayment $ million Interest paid $ million Additions $ million Repayment $ million Foreign exchange movement $ million Changes in fair value $ million Interest $ million Reclassification $ million $ million $ million Debt obligations Current 199.5 − (305.0) − − − 40.3 (2.8) − 995.5 927.5 Non-current 2,068.7 − − − − − 44.5 74.4 − (995.5) 1,192.1 Interest payable 9.0 − (36.8) − − − − 35.2 * − 7.4 Loans from a related company Current 3,289.4 226.5 − (0.9) − (5.5) − − 123.5 − 3,633.0 Lease liabilities Current 3.9 − (3.9) (0.1) − − − − 0.1 0.1 0.1 Non-current 0.2 − − − − − − − − (0.1) 0.1 5,570.7 226.5 (308.9) (37.8) − (5.5) 84.8 71.6 158.8 − 5,760.2 * Comprises interest on debt obligations and net change in fair value of cash flow hedges reclassified from equity as disclosed in Note 22. 42 SP PowerAssets Limited Financial statements Year ended 31 March 2025 2023 ---------------- Cash flows---------------- ----------------------------------------Non-cash changes---------------------------------------- 2024 Proceeds $ million Repayment $ million Interest paid $ million Additions $ million Foreign exchange movement $ million Changes in fair value $ million Interest $ million Reclassification $ million $ million $ million Debt obligations Current − − − − − − − − 199.5 199.5 Non-current 2,281.2 − − − − 1.1 (14.1) − (199.5) 2,068.7 Interest payable 8.8 − − (38.9) − − − 39.1 * − 9.0 Loans from a related company Current 3,164.5 − (357.5) (0.6) 371.0 − − 112.0 − 3,289.4 Lease liabilities Current 3.6 − (3.6) − − − − − 3.9 3.9 Non-current 4.2 − − (0.3) − − − 0.2 (3.9) 0.2 5,462.3 − (361.1) (39.8) 371.0 1.1 (14.1) 151.3 − 5,570.7 * Comprises interest on debt obligations and net change in fair value of cash flow hedges reclassified from equity as disclosed in Note 22. 43 SP PowerAssets Limited Financial statements Year ended 31 March 2025 15 Deferred taxation Movements in deferred tax assets and liabilities during the year are as follows: At 31 March 2023 Recognised in profit or loss (Note 23) Recognised in other comprehensive income (Note 23) At 31 March 2024 Recognised in profit or loss (Note 23) Recognised in other comprehensive income (Note 23) At 31 March 2025 $ million $ million $ million $ million $ million $ million $ million Deferred tax liabilities Property, plant and (1,470.9) (12.4) – (1,483.3) 1.0 – equipment (1,482.3) Right-of-use assets (1.4) 0.7 – (0.7) 0.7 – – Intangible assets (0.7) (0.9) – (1.6) (0.1) – (1.7) Hedging reserve (19.2) – 9.3 (9.9) – 10.9 1.0 (1,492.2) (12.6) 9.3 (1,495.5) 1.6 10.9 (1,483.0) Set off of tax 22.8 20.6 18.4 Net deferred tax liabilities (1,469.4) (1,474.9) (1,464.6) Deferred tax assets Deferred income 21.4 (1.5) – 19.9 (1.5) – 18.4 Lease liabilities 1.4 (0.7) – 0.7 (0.7) – – 22.8 (2.2) – 20.6 (2.2) – 18.4 Set off of tax (22.8) (20.6) (18.4) Net deferred tax assets – – – 16 Deferred income 2025 2024 $ million $ million Customers’ contributions 265.9 265.9 Government grant for depreciable assets 0.5 0.5 Accumulated accretion (159.3) (150.5) 107.1 115.9 Movements in accumulated accretion are as follows: At 1 April 150.5 141.5 Accretion for the year 8.8 9.0 At 31 March 159.3 150.5 17 Deferred construction cost compensation 2025 2024 $ million $ million Deferred construction cost compensation 256.2 256.2 44 SP PowerAssets Limited Financial statements Year ended 31 March 2025 18 Trade and other payables 2025 2024 $ million $ million Trade payables: - Third parties 101.0 64.5 - Related companies 56.4 44.0 - Immediate holding company 0.5 0.3 Interest payable 7.4 9.0 Deposits received 18.5 28.4 Advance receipts 165.7 167.8 Accrued operating expenditure 108.9 103.5 Accrued capital expenditure 284.9 245.1 Loans from a related company - Loan balances 3,536.5 3,205.6 - Interest payable 96.5 83.8 4,376.3 3,952.0 Payables denominated in currencies other than the Company’s functional currency comprise $15.2 million (2024: $7.3 million) of payables and accruals denominated in United States dollar (“USD”), $1.9 million (2024: $2.2 million) in Japanese yen (“JPY”), $5.8 million (2024: $nil million) in Euro (“EUR”) and $5.4 million (2024: $nil million) in Swiss Franc (“CHF”). As at 31 March 2025, the loans from a related company are unsecured, repayable on demand and bear interest at rates ranging from 2.37% to 4.19% (2024: 2.37% to 4.22%) per annum. 19 Revenue Revenue comprises use of system charges and the service is transferred over time. Transaction price allocated to remaining performance obligations The Company has applied the practical expedient not to disclose information about its remaining performance obligations as the Company recognises revenue in the amount to which the Company has a right to invoice customers in amounts that correspond directly with the value to the customer of the Company’s performance completed to date. 45 SP PowerAssets Limited Financial statements Year ended 31 March 2025 20 Other income 2025 2024 $ million $ million Rental income 4.7 3.1 Leasing income 4.1 5.5 Disbursement recoverable jobs 37.4 27.0 Sale of scrap 31.0 26.4 Accretion of deferred income 8.8 9.0 Grant income 6.8 2.0 Others 8.7 7.0 101.5 80.0 21 Finance income 2025 2024 $ million $ million Interest income receivable/received from related company 5.5 − Interest income receivable/received from banks 0.2 0.3 5.7 0.3 22 Finance costs 2025 2024 $ million $ million Interest expense on loans from a related company 123.5 112.0 Interest expense on debt obligations 97.3 123.1 Net change in fair value of cash flow hedges reclassified from equity (62.1) (84.0) Loss/(gain) arising from financial assets/liabilities in a fair value hedge: - hedged items 70.1 (15.7) - hedging instruments (61.1) 10.4 Amortisation of capitalised transaction costs 1.5 1.6 Interest expense on lease liabilities 0.1 0.2 169.3 147.6 46 SP PowerAssets Limited Financial statements Year ended 31 March 2025 23 Tax expense Tax recognised in profit or loss 2025 2024 $ million $ million Current tax expense Current year 165.7 120.4 Over provision in respect of prior years (0.7) (0.6) 165.0 119.8 Deferred tax expense Origination and reversal of temporary differences 0.3 15.1 Under/(over) provision in respect of prior years 0.3 (0.3) 0.6 14.8 Total tax expense 165.6 134.6 Tax recognised in other comprehensive income 2025 2024 Before Tax (expense)/ Net of Before Tax (expense)/ Net of tax credit tax tax credit tax $ million $ million $ million $ million $ million $ million Effective portion of changes in fair value of cash flow hedges (7.2) 1.2 (6.0) 27.0 (4.6) 22.4 Net change in fair value of: - Cash flow hedges reclassified to profit or loss (62.1) 10.6 (51.5) (84.0) 14.3 (69.7) - Cash flow hedges on recognition of the hedged items on balance sheet 5.2 (0.9) 4.3 2.1 (0.4) 1.7 (64.1) 10.9 (53.2) (54.9) 9.3 (45.6) Reconciliation of effective tax rate 2025 2024 $ million $ million Profit before taxation 903.7 751.0 Tax calculated using Singapore tax rate of 17% (2024: 17%) 153.6 127.7 Non-deductible expenses 12.9 9.4 Non-taxable income (0.5) (1.6) (Over)/under provision in respect of prior years current tax (0.7) (0.6) deferred tax 0.3 (0.3) 165.6 134.6 47 SP PowerAssets Limited Financial statements Year ended 31 March 2025 24 Profit for the year The following items have been included in arriving at profit for the year: 2025 2024 $ million $ million Auditors of the Company - Audit fees 0.1 0.1 - Non-audit fees – Audit-related services 0.2 # Exchange (loss)/gain, net (1.2) 1.2 Gain/(loss) on disposal of property, plant and equipment and intangible assets 0.1 (0.1) # Less than $0.1 million 25 Related parties For the purpose of the financial statements, parties are considered to be related to the Company if the Company has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. The immediate and ultimate holding companies are Singapore Power Limited and Temasek Holdings (Private) Limited (“Temasek”) respectively. These companies are incorporated in the Republic of Singapore. Temasek is an investment company headquartered in Singapore with a diversified investment portfolio. Accordingly, all the subsidiaries of Temasek are related corporations and are subject to common control. The Company engages in a wide variety of transactions with related corporations in the normal course of business on terms similar to those available to other customers. Such transactions include but are not limited to sales and purchases of power, provision of consultancy and engineering services, leasing of cables and ducts, agency services and financial and banking services. The related party transactions are carried out on terms negotiated between the parties which are intended to reflect competitive terms. All electricity supplied to companies in the Temasek group are related party transactions. The Temasek group has extensive interests in a large number of companies. As the Company’s rates for electricity transmission and distribution are based on tariffs approved by the EMA, the Company has concluded that it is not meaningful to present information relating to such revenue. Other than as disclosed elsewhere in the financial statements, transactions with related parties are as follows: 48 SP PowerAssets Limited Financial statements Year ended 31 March 2025 2025 2024 $ million $ million Related companies - management fee expenses (270.5) (256.1) - maintenance expenses (16.2) (11.7) - agency fee expenses (31.9) (30.4) - support service expenses (1.8) (1.8) - service expenses, including leases (4.5) (5.2) - leasing income 4.1 5.5 - service income 2.7 1.4 - trustee fee income 0.3 0.4 Immediate holding company - maintenance expenses (19.2) (20.0) - support service expenses (33.3) (34.7) 26 Financial risk management The Company’s activities expose it to foreign currency, interest rate, credit and liquidity risks which arise in the normal course of business. Generally, the Company’s overall objective is to manage and minimise exposure to such risks. The Company adopts the risk management policies and guidelines established by its immediate holding company, Singapore Power Limited, and has established processes for monitoring compliances with such policies. The Company uses forward foreign currency exchange contracts, interest rate swaps and cross currency interest rate swaps to manage its exposure to foreign currency and interest rate risks respectively. The Company does not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes. The material financial risks associated with the Company’s activities are each described below, together with details of the Company’s policies for managing the risks. Foreign currency risk The Company is exposed to foreign currency risks from borrowing activities, purchase, supply and installation contracts, and trade creditors which are denominated in a currency other than Singapore dollars. The objective of the Company’s risk management policies is to mitigate foreign exchange risk by utilising various hedging instruments. The Company therefore considers avoidable currency risk exposure to be minimal for the Company. The Company enters into cross-currency interest rate swaps to manage exposures arising from foreign currency borrowings including the United States Dollar (“USD”) and Japanese Yen (“JPY”). Under crosscurrency interest rate swaps, the Company agrees to exchange specified foreign currency principal and interest amounts at an agreed future date at a pre-determined exchange rate. Such contracts enable the Company to mitigate the risk of adverse movements in foreign exchange rates. Except where a foreign currency borrowing is taken with the intention of providing a natural hedge by matching the underlying cash flows, all foreign currency borrowings are swapped back to Singapore dollars. For foreign currency swaps that do not meet the requirements of hedge accounting, changes in fair value are recorded in profit or loss. 49 SP PowerAssets Limited Financial statements Year ended 31 March 2025 The Company uses forward foreign currency exchange contracts to substantially hedge foreign currency risk attributable to purchase transactions. The maturities of the forward foreign currency exchange contracts are intended to match the forecasted progress payments of the supply and installation contracts. Whenever necessary, the forward foreign exchange contracts are either rolled over at maturity or translated into foreign currency deposits, whichever is more cost efficient. As at 31 March 2025, the Company has outstanding forward foreign currency exchange contracts with notional amounts of approximately $233.0 million (2024: $291.1 million). The net fair value of forward foreign currency exchange contracts as at 31 March 2025 is $4.5 million net liabilities (2024: $8.5 million net liabilities) comprising assets of $1.8 million (2024: $1.9 million) and liabilities of $6.3 million (2024: $10.4 million). These amounts were recognised as derivative assets and liabilities respectively. Sensitivity analysis for foreign currency risk As at 31 March 2025 and 2024, if the functional currency of the Company had moved against each of the currencies as illustrated in the table below, with all other variables held constant, equity would have been affected as below: Equity (hedging reserve) $ million Judgements of reasonably possible movements – increase/(decrease) 2025 USD Increase of the SGD by 5 per cent against US Dollar (3.1) Decrease of the SGD by 5 per cent against US Dollar 3.1 EUR Increase of the SGD by 9 per cent against EUR Dollar (4.4) Decrease of the SGD by 9 per cent against EUR Dollar 4.4 JPY Increase of the SGD by 14 per cent against Japanese Yen (7.5) Decrease of the SGD by 14 per cent against Japanese Yen 7.5 CHF Increase of the SGD by 6 per cent against Swiss Franc (1.8) Decrease of the SGD by 6 per cent against Swiss Franc 1.8 2024 USD Increase of the SGD by 5 per cent against US Dollar (4.1) Decrease of the SGD by 5 per cent against US Dollar 4.1 EUR Increase of the SGD by 9 per cent against EUR Dollar (5.0) Decrease of the SGD by 9 per cent against EUR Dollar 5.0 JPY Increase of the SGD by 16 per cent against Japanese Yen (11.4) Decrease of the SGD by 16 per cent against Japanese Yen 11.4 50 SP PowerAssets Limited Financial statements Year ended 31 March 2025 The judgements of reasonably possible movements were determined using statistical analysis of the 90 th percentile of the best and worst expected outcomes having regard to actual historical exchange rate data over the previous five years. Management considers that past movements are a reasonable basis for estimating possible movements in foreign currency exchange rates. Interest rate risk The Company manages its interest rate exposure by maintaining a significant portion of its debt at fixed interest rates. This is done by the (i) issuance of fixed rate debt; (ii) use of interest rate swaps to convert floating rate debt to fixed rate debt; or (iii) use of cross-currency interest rate swaps to convert fixed or floating rate non-functional currency denominated debt to fixed rate functional currency denominated debt. The use of derivative financial instruments relates directly to the underlying existing and anticipated indebtedness. As at 31 March 2025, the Company has interest rate and cross-currency swaps with notional amount of $4,753.1 million (2024: $4,898.4 million). The Company classifies these swaps as cash flow and fair value hedges. The net fair value of swaps as at 31 March 2025 is $142.9 million net liabilities (2024: $218.9 million net liabilities) comprising assets of $23.8 million (2024: $78.4 million) and liabilities of $166.7 million (2024: $297.3 million). These amounts were recognised as derivative assets and liabilities respectively. The Company’s excess funds are principally invested in bank deposits of varying maturities to match its cash flow needs, or deposited with a related company. At the reporting date, if interest rates had moved as illustrated in the table below, with all other variables held constant, profit before taxation and equity would have been affected as follows: Profit before taxation Equity (hedging reserve) $ million $ million Judgements of reasonably possible movements – increase/(decrease) 2025 Increase with all other variables held constant (4.1) 72.5 Decrease with all other variables held constant 4.0 (78.3) 2024 Increase with all other variables held constant (13.3) 47.7 Decrease with all other variables held constant 13.3 (49.4) The judgements of reasonably possible movements were determined using statistical analysis of the 90 th percentile of the best and worst expected outcomes having regard to actual historical interest rate data over the previous five years based on the six month Singapore Overnight Rate Average, three month USD Secured Overnight Financing Rate and six month JPY Tokyo Overnight Average Rate. Management considers that past movements are a reasonable basis for determining possible movements in interest rates. 51 SP PowerAssets Limited Financial statements Year ended 31 March 2025 As at 31 March 2025, the movements in interest rates used in the table above are as follows: • Singapore interest rates – 211 basis points (2024: 197 basis points) • United States interest rates – 324 basis points (2024: 325 basis points) • Japan interest rates – 21 basis points (2024: 6 basis points) Credit risk Credit risk is the risk of financial loss to the Company if a customer or a counterparty to a financial instrument fails to meet its contractual obligations. This arises principally from the Company’s financial assets, comprising cash and cash equivalents, trade and other receivables and derivative assets. The Company provides for lifetime ECL for all trade receivables using a provision matrix as disclosed in Note 9. For other receivables, the Company considers the probability of default upon initial recognition of an asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. As at 31 March 2025 and 2024, other receivables have been assessed to be subject to immaterial ECL. Surplus funds are invested in interest bearing deposits with financial institutions with good credit ratings assigned by international credit rating agencies. Counterparty risks are managed by limiting exposure to any individual counterparty. The Company’s portfolio of financial instruments is entered into with a number of creditworthy counterparties, thereby mitigating concentration of credit risk. The Company held cash and cash equivalents of less than $0.1 million (2024: less than $0.1 million) which represents its maximum exposure on these assets. Counterparty risks on derivatives are generally restricted to any gain or loss when marked to market, and not on the notional amount transacted. As a prudent measure, the Company enters into derivatives only with financial institutions with good credit ratings assigned by international credit rating agencies. Therefore, the possibility of a material loss arising from the non-performance by a counterparty is considered remote. There is no significant concentration of credit risk of trade receivables. The credit quality of trade and other receivables that are not past due or impaired at the reporting date is of acceptable risk. In addition to customers’ deposits, the Company holds guarantees from creditworthy financial institutions to secure the obligations of certain customers. At reporting date, the Company has significant receivables arising from amounts due from related corporations. Management considers the probability of default remote. Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company adopts prudent liquidity risk management by maintaining sufficient cash and liquid financial assets, and ensures the availability of funding through an adequate level of bank credit lines. Intercompany borrowings are obtained when necessary to meet its working capital requirements. The following are the expected contractual undiscounted cash flows of financial liabilities, including interest payments and excluding the impact of netting agreements. 52 SP PowerAssets Limited Financial statements Year ended 31 March 2025 For swap hedging instruments that are cash flow hedges, the tables below indicate the periods that they are expected to impact profit or loss. Carrying amount Contractual cash flows Within 1 year 1 – 2 years 2 – 5 years More than 5 years $ million $ million $ million $ million $ million $ million 2025 Non-derivative financial liabilities Trade and other payables* (4,210.6) (4,210.6) (4,210.6) – – – Lease liabilities (0.2) (0.2) (0.1) (0.1) – – Debt obligations - current (927.5) (958.3) (958.3) – – – - non-current (1,192.1) (1,334.9) (38.6) (102.6) (922.4) (271.3) Derivatives Derivative assets Interest rate swaps/crosscurrency interest rate swaps 23.8 35.2 25.5 2.4 5.3 2

Terms of Use Understand the terms of your access of this website and/or use of any online services. Terms & Conditions of Use Thank you for visiting the website of the Singapore Power Group (the “Website”). PLEASE READ THESE TERMS AND CONDITIONS OF USE (“TERMS AND CONDITIONS”) CAREFULLY. BY ACCESSING THIS WEBSITE AND/OR USING THE ONLINE SERVICES, YOU AGREE TO BE BOUND BY THE FOLLOWING TERMS AND CONDITIONS. IF YOU DO NOT ACCEPT ANY OF THESE TERMS AND CONDITIONS, YOU MUST IMMEDIATELY DISCONTINUE YOUR ACCESS OF THIS WEBSITE AND/OR USE OF THE ONLINE SERVICES. Copyright and Trademark Notices Except as otherwise expressly stated herein, the copyright and all other intellectual property in the contents of this Website (including, but not limited to, all design, text, sound recordings, images or links) are the property of Singapore Power Limited and/or its subsidiaries and/or their respective subsidiaries (together the "SP Group"). As such, they may not be reproduced, transmitted, published, performed, broadcast, stored, adapted, distributed, displayed, licensed, altered, hyperlinked or otherwise used in whole or in part in any manner without the prior written consent of the SP Group. Save and except with the SP Group's prior written consent, you may not insert a hyperlink to this Website or any part thereof on any other website or "mirror" or frame this Website, any part thereof, or any information or materials contained in this Website on any other server, website or webpage.   All trade marks, service marks and logos used in this Website are the property of the SP Group and/or the respective third party proprietors identified in this Website. 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We collect personal information from you for the purposes of providing you with and improving the SP Group’s services. We use information in the file we maintain about you, and other information we obtain from your current and past activities on the Website to resolve disputes and troubleshoot problems. At times, we may look across multiple users to identify problems or resolve disputes, and in particular we may examine your information to identify users using multiple user ids or aliases, if any. 2. Only authorised staff will have access to your personal information 3. To serve you well, we may from time to time work with other organisations including SP Group’s affiliates to offer other products and services to you. 4. You agree that we may use personally identifiable information about you to improve our marketing and promotional efforts, to analyze website usage, improve our content, product offerings and services, and customize our website's content, layout, and services. This may include using your information to contact you and deliver information to you that is targeted to your interests, such as targeted banner advertisements, administrative notices, product offerings and communications relevant to your use of the Website. 5. Like most websites, we may use cookies to "remember" information about your preferences. You can set up your web browser to accept or reject cookies. 6. If you send us personal correspondence, such as emails or letters, or if other users or third parties send us correspondence about your activities or postings on the Website, we may collect such information into a file specific to you. 7. We use industry standard practices to safeguard the confidentiality of your personal identifiable information. The SP Group treats data as an asset that must be protected against loss and unauthorized access. We employ many different security techniques to protect such data from unauthorized access by users inside and outside our group of companies. However, please note that we cannot ensure that all of your private communications and other personally identifiable information will not be disclosed in ways not otherwise described in  these Terms and Conditions and/or the SP Group Personal Data Protection Policy (for example, in disclosing your personal data to law enforcement, regulatory or other government agencies, or to third parties under certain circumstances, third parties may unlawfully intercept or access transmissions or private communications, or users may abuse or misuse your information that they collect from our website). 8. The SP Group may disclose your personal data to law enforcement, regulatory or other government agencies, or to third parties. 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With respect to the collection, use and disclosure of your personal data, the SP Group has prepared the SP Group Personal Data Protection Policy which explains what personal data the SP Group collects and the purposes for which your personal data will be collected, used and disclosed by the SP Group. The SP Group Personal Data Protection Policy, which shall be deemed incorporated into these Terms and Conditions, is available here. In the event of any inconsistency between the terms set out in these Terms and Conditions and the SP Group Personal Data Protection Policy and in so far as it relates to the collection, use and disclosure of personal data, the terms set out in the SP Group Personal Data Protection Policy shall prevail. If you have any questions, comments or requests for information regarding your personal data, please contact our SP Data Protection Office at: SP Data Protection Office SP Group  2 Kallang Sector   Singapore 349277 Email: dpo@spgroup.com.sg Amendments to these Terms and Conditions The SP Group reserves the right to amend these Terms and Conditions from time to time without prior notice to you. Should there be any amendments, the revised terms and conditions will be posted on this Website. By continuing to use this Website after such changes have been made, you acknowledge and agree you have read, understood and accept the changes.

Search Electricity Tariff Revision For The Period 1 January to 31 March 2020https://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Electricity-Tariff-Revision-For-The-Period-1-January-to-31-March-2020 Media Release Electricity Tariff Revision For The Period 1 January to 31 March 2020 Singapore, 30 December 2019 – For the period from 1 January to 31 March 2020, electricity tariffs (before 7% GST) will increase by an average of 3.5% or 0.81 cent per kWh compared with the previous quarter. This is due to higher energy cost compared with the previous quarter. For households, the electricity tariff (before 7% GST) will increase from 23.43 to 24.24 cents per kWh for 1 January to 31 March 2020. The average monthly electricity bill for families living in four-room HDB flats will increase by $2.76 (before 7% GST) (see Appendix 3 for the average monthly electricity bill for different household types). SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The tariffs given in Appendix 1 have been approved by the EMA Issued by: SP Group 2 Kallang Sector Singapore 349277 www.spgroup.com.sg Appendix 1 ELECTRICITY TARIFFS FROM 1 JANUARY 2020 Appendix 2 BREAKDOWN OF ELECTRICITY TARIFF The electricity tariff consists of the following four components: Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of power generation. Network costs (paid to SP PowerAssets): This fee is reviewed annually.   Market Support Services Fee (paid to SP Services): This fee is reviewed annually. Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system.   Q1 2020 TARIFF (before 7% GST) Appendix 3 AVERAGE MONTHLY ELECTRICITY BILLS OF DOMESTIC CUSTOMERS  (TARIFF WEF 1 JANUARY 2020) (before 7% GST) jcr:b46eae54-6b2b-4758-a62a-ff198faac803https://www.spgroup.com.sg/dam/jcr:b46eae54-6b2b-4758-a62a-ff198faac803 Electricity Tariff Revision for the Period 1 January to 31 March 2023https://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Electricity-Tariff-Revision-For-The-Period-1-January-to-31-March-2023 Media Release Electricity Tariff Revision for the Period 1 January to 31 March 2023 Singapore, 30 December 2022 – For the period from 1 January to 31 March 2023, electricity tariff (before GST) will decrease by an average of 2.7% or 0.79 cent per kWh compared with the previous quarter. This is due to lower energy costs compared with the previous quarter. For households, the electricity tariff (before GST) will decrease from 29.74 to 28.95 cents per kWh for the period 1 January to 31 March 2023. The average monthly electricity bill for families living in HDB four-room flats will decrease by $2.63 (before GST). *before GST SP Group reviews the electricity tariffs every quarter based on guidelines set by the electricity industry regulator, Energy Market Authority (EMA). Please refer to Appendix 1 for the components of the electricity tariff, Appendix 2 for the tariffs approved by EMA, and Appendix 3 for the average monthly electricity bills for households. Issued by: SP Group 2 Kallang Sector Singapore 349277 www.spgroup.com.sg APPENDIX 1 BREAKDOWN OF ELECTRICITY TARIFF 1. The electricity tariff consists of the following four components: Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of fuel and power generation. The fuel cost is the cost of imported natural gas, which is tied to oil prices by commercial contracts. The cost of power generation covers mainly the costs of operating the power stations, such as the manpower and maintenance costs, as well as the capital cost of the stations. Network costs (paid to SP Group): This is to recover the cost of transporting electricity through the power grid. Market Support Services Fee (paid to SP Group): This is to recover the costs of billing and meter reading, data management, retail market systems as well as market development initiatives. Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system. Q1 2023 TARIFF FOR HOUSEHOLDS (before 8% GST) APPENDIX 2 ELECTRICITY TARIFFS FROM 1 JANUARY 2023 APPENDIX 3 AVERAGE MONTHLY ELECTRICITY BILLS FOR HOUSEHOLDS TARIFF WEF 1 JANUARY 2023 (before GST) Board of Directorshttps://www.spgroup.com.sg/about-us/board-of-directors About SP GroupBoard of DirectorsExecutive Leadership TeamAwards & AffiliationsAnnual ReportsSustainability Board of Directors The Board provides broad strategic direction for the Group and undertakes key investment and funding decisions. In addition, the Board ensures that Senior Management maintains a robust system of internal controls to protect the Group's assets and reviews the Group's financial performance. Board of Directors Leong Wai Leng Chairman and Non-Independent Director Ms Leong Wai Leng is the Chairman of Singapore Power Limited (“SPL”). She joined the Board of SPL and was appointed Deputy Chairman on 1 April 2021 and has been appointed Chairman with effect from 1 Jan 2023. Ms Leong was formerly the Chief Financial Officer of Temasek Holdings (Private) Limited and Temasek International Pte. Ltd. (“TI”), President, Singapore Market of TI and Advisory Senior Director of Temasek International Advisors Pte. Ltd.. Prior to Temasek, Ms Leong was Deputy Chief Executive Officer of Singapore Exchange-listed Raffles Holdings Limited and concurrently, Chief Executive Officer of Raffles International Limited, its global hotel operating and management subsidiary. Ms Leong has extensive working experience in both the public and private sectors where she held senior leadership positions in public listed companies in the engineering specialist, industrial conglomerate sectors and the Ministries of Communications and Trade & Industry. Ms Leong holds a Bachelor of Arts (Honours) in Engineering from the University of Cambridge, United Kingdom and a Master of Applied Finance from the MacQuarie University, Australia. Timothy Chia Chee Ming Lead Independent Director Mr Timothy Chia Chee Ming joined the board of Singapore Power Limited in June 2014 and was appointed Lead Independent Director on 2 Mar 2023. Mr Chia is Chairman of Gracefield Holdings Limited, Hup Soon Global Corporation Private Limited and Innoven Capital Pte. Ltd. He sits on the boards of several other private and public companies, including Vertex Venture Holdings Ltd, Seviora Holdings Pte Ltd and Thai Beverage Public Company Limited. He is a Term Trustee of the Singapore Indian Development Association (SINDA). He is also a Member of Singapore Management University and Rare Disease Fund Committee of SingHealth Fund (KKH Health Fund). From 1986 to 2004, he was a Director of PAMA Group where he was responsible for private equity investment and served as President from 1995 to 2004. He was previously Chairman – Asia for Coutts & Co Ltd and Senior Advisor to EQT Funds Management Ltd. Mr Chia holds a Bachelor of Science cum laude, majoring in Management, from Fairleigh Dickinson University, USA. Mr Chia was awarded the Public Service Medal (PBM) in the 2022 National Day Awards in recognition of Mr Chia’s outstanding contributions to the community and his dedication to public service. Lee Kim Shin Independent Director Mr Lee Kim Shin joined the board of Singapore Power Limited in July 2019. Mr Lee is a Counsel of Allen & Gledhill LLP. Mr Lee sits on the boards of Singapore Airlines Limited, Singapore Institute of Legal Education and Goh Foundation Limited.  Mr Lee holds a Bachelor of Laws degree from the National University of Singapore. Goh Swee Chen Independent Director Ms Goh Swee Chen joined the board of Singapore Power Limited in July 2019.  Ms Goh sits on the boards of JTC Corporation, Monetary Authority of Singapore, Singapore Airlines Limited, Woodside Petroleum Ltd and various companies in the Carbon Solutions group of companies.  She is also Chairman of Nanyang Technological University’s Board of Trustees and National Arts Council, and a member of Singapore Research, Innovation and Enterprise Council and Legal Service Commission. Ms Goh holds a Bachelor of Science from Victoria University and a Master of Business Administration from Chicago Booth, University of Chicago. Prof Yaacob Bin Ibrahim Independent Director Prof Yaacob Bin Ibrahim joined the board of Singapore Power Limited in September 2021. Professor Yaacob Bin Ibrahim is currently a Professor of Practice and Adjunct Professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore.  He was an Advisor to the Office of the President and Community Leadership and Social Innovation Centre of Singapore Institute of Technology (“SIT”).  Prior to his position at SIT, Prof Yaacob served as a Minister in the Ministries of Communications and Information (2011-2018), Environment and Water Resources (2004-2011) and Community Development and Sports (2002-2004).  Throughout the 16 years as a Minister, he was also Minister-in-charge of Muslim Affairs. Prof Yaacob is Chairman of the Governing Board of St John’s Island National Marine Laboratory, a board member of the National Kidney Foundation and a Board Member of Surbana Jurong Group.  He is also an independent director of Oceanus Group Limited and serves as Advisor of AI Singapore. Prof Yaacob graduated from the University of Singapore with a degree in Civil Engineering and has a PhD from Stanford University. Antonio Volpin Independent Director Mr Antonio Volpin joined the board of Singapore Power Limited in April 2023. Mr Antonio Volpin was a Senior Partner at McKinsey & Company until 2022 and had served in that role since 2004.  Mr Antonio Volpin brings with him 30 years of experience helping leading-edge electric utilities, energy, and infrastructure companies to develop successful growth strategies, to become global leaders and achieve operational excellence.  He has developed a deep expertise in energy transition, supporting many global leaders in their journey to net zero and advising many public bodies on how to incentivise decarbonisation of energy usages.  He started his career in Italy, and over the years he moved to London and then to Singapore as leader of the Electric Power practice of McKinsey. Mr Antonio Volpin is the Chairman of the Board of PerPetum Europe N.V. as well as a director on the Boards of Teike Soluzioni Energetiche (formerly known as SIMET), Whysol Investments SpA and Clean Energy Transition SAM.  He is also a member of the Advisory Board of Pioneer Point Partners LLP. Mr Antonio Volpin is a fellow at the Scuola Direzione Aziendale (SDA) Bocconi in Milan, where he teaches a course on the energy in their MBA program. Ching Wei Hong Independent Director Mr Ching Wei Hong joined the board of Singapore Power Limited in June 2023. He is also the Chairman of SP Group Treasury Pte. Ltd.​ Mr Ching Wei Hong is a Director of Mapletree Logistics Trust Management Ltd., Member, Nanyang Technological University’s Board of Trustees, member of the Rare Disease Fund committee under the Ministry of Health, member of the Appeal Advisory Panels under the Business Trust Act, Financial Advisers Act, Insurance Act, Securities and Futures Act and Trust Companies Act and member of the Appeal Advisory Panel under the Financial Services and Markets Act 2022 and the Credit Bureau Act 2016.​ Mr Ching Wei Hong has 38 years of experience in regional finance, wealth management, private banking and retail banking, corporate banking and cash management.​ Mr Ching Wei Hong was with OCBC bank from 1999 to 2021, where he held various senior roles including head of transaction banking, Chief Financial Officer, Chief Operating Officer, Group Head Operations & Technology and Chairman of Bank of Singapore before being named as Deputy President, Group Wealth Management & Consumer Banking, on 9 Jan 2020.  Before joining OCBC Bank, he was Director of Corporate Finance at Philips Electronics Asia Pacific. He also held senior regional assignments in Bank of America and was Treasurer of Union Carbide Asia Pacific.​ Mr Ching Wei Hong holds a Bachelor of Business Administration from the National University of Singapore. Ong Pang Thye Independent Director Mr Ong Pang Thye joined the board of Singapore Power Limited in April 2024. Mr Ong Pang Thye was the former Managing Partner of KPMG in Singapore from 1 Oct 2016 to 30 Sep 2023 and a Board member of KPMG International Limited. Prior to this, he was previously the Head of Audit practice in Singapore and was KPMG’s Head of Accounting Advisory Services for KPMG in Asia Pacific. Mr Ong Pang Thye also has more than 30 years of experience in accounting, auditing and consulting, working with companies in various industries such as Banking, Asset Management, Infrastructure, Media and Real Estate. Mr Ong Pang Thye sits on the boards of Temasek Holdings (Private) Limited, MOH Holdings Pte Ltd and Singapore’s Ministry of Home Affairs’ Home Team of Science and Technology Agency and is a member of the Business School Management Advisory Board of the National University of Singapore. He is also a Council Member of the Singapore Business Federation. Ow Foong Pheng Independent Director Mrs Ow Foong Pheng joined the board of Singapore Power Limited in Jun 2024. Mrs Ow Foong Pheng is currently the Chairperson of the Urban Redevelopment Authority and Special Adviser to the Ministry of National Development.  Prior to this, she was the Permanent Secretary (National Development) of the Ministry of National Development from May 2016 until 31 Mar 2025.  She has also previously held the positions of Permanent Secretary of Trade and Industry, Chief Executive Officer of JTC Corporation, and served in several other ministries, including the Ministries of Education, Finance, Defence, Home Affairs, and Manpower. She was also Board director of DBS Group Holdings Limited. Mrs Ow Foong Pheng graduated with a Bachelor of Arts, Politics, Philosophy and Economics from Oxford University.  She also holds a Master of Science in Management from Stanford University. Stanley Huang Tian Guan Group Chief Executive Officer and Director Mr Stanley Huang Tian Guan is the Group Chief Executive Officer of Singapore Power Limited since Jul 2020.  He is also the Chairman of the Energy Association of Singapore (World Energy Council Singapore), President of the Association of the Electricity Supply Industry of East Asia and Western Pacific, and a Council Member of the Singapore-Guangdong Collaboration Council. Mr Huang is the Chairman of key subsidiaries of Singapore Power group including SP PowerAssets Limited, Singapore District Cooling Pte Ltd, Singapore Power International Pte Ltd, SP Digital Holdings Pte. Ltd., Labrador Real Estate Pte. Ltd., SP PowerInterconnect Pte. Ltd. and Shirui Energy Technology (Shanghai) Co., Ltd. as well as a Director of SP Services Limited and SP Group Treasury Pte. Ltd.  Mr Huang was formerly the Group Chief Financial Officer of Singapore Power Limited and Chief Executive Officer of Singapore Power International.  Prior to joining Singapore Power Limited in May 2015, Mr Huang was with Volvo Group for 12 years and had lived and worked in Shanghai, Belgium and Singapore. Mr Huang holds a Master’s degree in Business Administration from University of Leicester, UK and a Bachelor of Accountancy (2nd Upper Class Honours) degree from Nanyang Technological University, Singapore. He is a Chartered Accountant of Singapore and an alumnus of INSEAD Business School. [20140509] Berita Harian - Emergency Starter Kits For All Householdshttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/cbbaf04f-0147-4eb0-b6d8-d48f489049af/%5B20140509%5D+Berita+Harian+-+Emergency+Starter+Kits+For+All+Households.pdf?MOD=AJPERES&CVID= ENCIK Osman Ameng, 85 tahun, merupakan salah seorang penghuni Rumah Masyarakat bagi Warga Tua Persatuan Kebajikan Wanita Asia (Awwa) yang menerima pelitup muka percuma. Apabila diminta mengulas mengenai inisiatif agihan pelitup muka tersebut, beliau berkata: “Baguslah. Inisiatif ini dapat menolong kami mencegah penyakit seperti Sars.” Tambahnya, “Saya bersyukur menerima pelitup muka ini. Saya tidak perlu lagi keluar dan mencari pelitup muka apabila sakit nanti.” Rumah Masyarakat Awwa ialah rumah kebajikan pertama yang menerima Kit Persediaan. Kit Persediaan merupakan satu inisiatif antara Temasek Cares dengan Singapore Power, serta disokong oleh Singapore Post dan syarikat 3M. Di bawah program Kit Persediaan, 1.2 juta rumah di Singapura, termasuk rumah privet, akan menerima tiga pelitup muka N95 secara percuma. Selain itu, 17,000 Kit Persediaan juga akan diagihkan kepada 144 rumah kebajikan dan 300,000 Kit Persediaan diperuntukkan untuk keluarga miskin jika perlu. Seramai 30 sukarelawan daripada Singapore Power terlibat dalam acara agihan tersebut semalam. Demonstrasi diadakan terlebih dahulu di bilik rekreasi agar penghuni Rumah Masyarakat Awwa dapat memahami cara menggunakan pelitup muka dan kepentingan Kit Persediaan pada masa kecemasan. Malah Kit Persediaan yang mengandungi arahan visual dapat membantu warga tua memahami cara menggunakan pelitup muka dengan lebih baik lagi. Antara sukarelawan yang terlibat dalam agihan tersebut ialah Encik Muhammad Juraimi Mohamed Ali. Warga terima pelitup percuma DEMONSTRASI: Encik Osman Ameng (kiri) mencuba pelitup muka N95 yang diagihkan oleh sukarelawan Singapore Power, Encik Muhammad Juraimi Mohamed Ali. – Foto JOHARI RAHMAT Juruteknik Singapore Power yang berusia 28 tahun itu berbesar hati dapat menyumbang kepada masyarakat. “Saya berpuas hati dapat melibatkan diri dalam inisiatif ini untuk menyediakan warga tua dengan keperluan yang penting dalam masa kecemasan,” katanya. Encik Muhammad Juraimi turut melakukan demonstrasi menggunakan pelitup muka N95 kepada warga tua di rumah masyarakat tersebut. “Satu tali letak di bawah telinga dan satu lagi di atas telinga. Sepit di hidung seperti ini...” kata Encik Muhammad Juraimi sambil membantu penghuni rumah memakai pelitup muka yang diberikan. Menurut Cik Amelia Champion, Ketua Hal Ehwal Korporat Singapore Power, Singapore Power akan mengagihkan Kit Persediaan kepada 143 lagi rumah kebajikan sepanjang bulan ini. “Kami ingin semua penduduk Singapura bersedia akan sebarang bahaya atau ancaman. Tiada sesiapa pun yang harus diketepikan,” ujar Cik Amelia. Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/underground-wonders Underground wonders RELIABILITY Just picture this, to build an underground MRT station in an area with restricted space, cables would have to be diverted temporarily and rediverted again to a permanent corridor when construction is completed,” explains Hasinah Binte Mohamed Amin, Principal Engineer, MRT Diversion Unit (MRTU).  These projects are massive undertakings. “An example is the Cross-Regional Line, which will run for 50km underground. You can imagine the magnitude of this task,” exclaims Hasinah. Read this CNA feature story on how Hasinah and her team are paving the way for national infrastructure projects such as new MRT lines and expressways: https://www.channelnewsasia.com/brandstudio/spgroup/undergroundwonders   TAGS RELIABILITY YOU MIGHT BE INTERESTED TO READ How this 'grid doctor' maintains the health of Singapore's electricity network so everything stays on Ground feedback, digital tools: How she helps 8,000 workers end their day safely Faster repairs, fewer disruptions: Meet the innovative teams using smart tech to keep your piped gas supply flowing Category: Reliability Electricity Tariff Revision For the Period 1 Oct to 31 Dec 2020https://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Electricity-Tariff-Revision-For-the-Period-1-Oct-to-31-Dec-2020 Media Release Electricity Tariff Revision For the Period 1 Oct to 31 Dec 2020 Singapore, 30 September 2020 – For the period from 1 October to 31 December 2020, electricity tariff (before 7% GST) will increase by an average of 1.83 cents per kWh compared with the previous quarter. The revised tariff and that of the preceding quarter are the lowest in the last three years. The increase this quarter is due to higher energy costs, which forms a major component of the electricity tariff and is paid to power generation companies. The remaining components of the tariff, consisting of network costs and market support services fees to SP Group and Market Administration and Power System Operation Fee to Energy Market Company and Power System Operator, remain unchanged (Appendix 1: Breakdown of Electricity Tariff). For households, the electricity tariff (before 7% GST) will increase from 19.60 to 21.43 cents per kWh for 1 October to 31 December 2020. The average monthly electricity bill for families living in fourroom HDB flats will increase by $7.01 (before 7% GST) (Appendix 3: Average monthly electricity bills of domestic customers).   *before 7% GST The electricity tariffs are reviewed quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The tariffs shown in Appendix 2 have been approved by the EMA. Appendix 1 BREAKDOWN OF ELECTRICITY TARIFF: 1. The electricity tariff consists of the following four components: Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of fuel and power generation. The fuel cost is the cost of imported natural gas, which is tied to oil prices by commercial contracts. The cost of power generation covers mainly the costs of operating the power stations, such as the manpower and maintenance costs, as well as the capital cost of the stations. Network costs (paid to SP PowerAssets): This fee is reviewed annually. This is to recover the cost of transporting electricity through the power grid. Market Support Services Fee (paid to SP Services): This fee is reviewed annually. This is to recover the costs of billing and meter reading, data management, retail market systems as well as for market development initiatives. Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system.   Appendix 2 Appendix 3 National-Average-Household-Consumption----_Apr-25-to-Mar-26.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/our-services/utilities/tariff-information/National-Average-Household-Consumption----_Apr-25-to-Mar-26.xlsx Utility Bill Avg_With Gas Utility Bill Average ($) for households with gas Premises Types Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 HDB 1-Room 80.08 82.78 87.43 83.34 86.23 82.42 81.64 83.97 78.63 77.93 75.97 75.08 HDB 2-Room 92.72 97.00 100.66 97.91 99.45 95.00 93.57 97.93 90.47 90.07 87.60 87.37 HDB 3-Room 119.73 124.51 129.34 124.22 126.71 122.50 121.04 124.31 116.58 115.44 112.93 113.86 HDB 4-Room 142.95 148.52 154.60 149.22 151.99 147.59 145.21 150.28 139.53 138.26 135.87 137.34 HDB 5-Room 152.34 157.84 164.50 159.46 162.46 157.97 155.35 160.85 149.14 146.83 145.17 147.64 HDB Executive 169.93 174.70 182.36 177.32 179.80 175.34 171.18 178.17 164.07 162.41 160.35 164.43 Apartment 175.68 183.56 189.46 182.17 184.14 182.73 180.50 187.96 176.05 165.34 160.41 168.05 Terrace 279.64 288.94 301.97 291.01 298.11 292.67 293.17 295.21 285.78 275.95 276.55 284.40 Semi-Detached 351.85 364.56 382.10 371.24 376.26 370.72 362.56 376.52 353.09 342.58 345.08 355.72 Bungalow 675.97 699.68 725.88 709.75 708.95 728.77 693.44 732.73 682.55 680.55 658.72 683.89 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. Utility Bill Avg_WO Gas Utility Bill Average ($) for households without gas Premises Types Feb-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 HDB 1-Room 67.47 70.52 74.13 78.40 75.61 77.97 73.97 73.36 75.72 70.53 69.56 67.40 67.06 HDB 2-Room 80.06 83.39 87.87 91.84 89.70 91.17 86.56 85.41 89.23 82.47 81.75 79.33 78.98 HDB 3-Room 100.23 106.96 112.09 116.92 112.61 114.89 110.33 109.14 112.40 105.15 103.85 101.34 102.03 HDB 4-Room 119.36 126.86 133.11 139.31 134.99 137.35 132.51 130.31 135.32 125.42 124.11 121.47 122.33 HDB 5-Room 126.62 134.46 140.89 147.54 143.70 146.23 141.18 138.68 144.16 133.40 131.27 129.19 130.70 HDB Executive 140.97 150.92 156.71 164.42 160.31 162.51 157.57 153.76 160.51 147.39 145.83 143.33 146.49 Apartment 135.55 152.04 161.94 168.66 163.45 164.54 161.05 158.14 166.34 155.85 144.88 138.68 145.16 Terrace 240.95 253.19 263.33 276.05 267.47 273.88 266.42 265.98 269.32 259.90 252.25 251.03 256.90 Semi-Detached 301.32 321.27 335.61 352.45 342.67 347.15 340.35 333.46 344.79 323.43 314.80 316.37 323.27 Bungalow 573.47 625.30 651.42 679.81 663.52 665.92 680.97 644.28 684.59 638.58 634.59 612.19 635.63 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. [20250105] Lianhe Zaobao - In support of KidSTART Singapore SP Group donates $1.1 million and launches new initiativehttps://www.spgroup.com.sg/dam/jcr:da127d6d-7189-4279-a054-d48264ba3d05 Grab to bring in 200 new electric cars from next yearhttps://www.spgroup.com.sg/dam/jcr:ab09a4b2-2035-46b7-a999-3206c398a58d Berita Berita Harian | Jumaat, 24 Ogos 2018 Grab akan bawa masuk 200 kenderaan elektrik baru tahun depan Foto GRAB FIRMA khidmat sewa kereta privet Grab akan membawa masuk 200 kenderaan elektrik baru mulai tahun depan, sebagai sebahagian daripada ikatan perkongsian dengan penyedia tenaga utiliti SP Group. Grab semalam mengumumkan kenderaan baru itu akan mula digunakan di jalan raya pada awal tahun depan, dan boleh didapati melalui cawangan sewanya, GrabRentals. Di bawah perkongsian itu, pemandu kereta sewa Grab akan menikmati kadar harga istimewa di stesen pengecasan kenderaan SP Group dan tempat letak kereta diskaun kepada pemandu yang menggunakan stesen pengecasan. Jun lalu, syarikat penyedia tenaga utiliti itu mengumumkan rancangan memperkenalkan rangkaian 500 stesen pengisian cepat menjelang 2020, dengan 30 yang pertama disediakan pada akhir tahun ini. Ia akan diletakkan di kawasan seperti estet perumahan, pusat beli-belah, tapak perindustrian dan taman perniagaan. Firma berpangkalan di Singapura itu berkata ia akan bekerjasama dengan SP Group untuk mengkaji corak penggunaan kenderaan elektrik bagi meningkatkan akses dan penggunaan stesen pengecasan. Grab berkata butiran lebih lanjut mengenai kos pengecasan, di samping model kenderaan elektrik yang akan digunakan, akan diumumkan hujung tahun ini. Bagaimanapun, firma itu menyatakan kenderaan model itu boleh bergerak sejauh 400km setiap caj, dengan mengecas selama 40 minit. Ketua pembangunan strategik SP Group, Encik Goh Chee Kiong, berkata perkongsian dengan Grab akan membantu “mempercepat penggunaan EV (kenderaan elektrik) yang lebih meluas di Singapura dan menyokong usaha negara mengurangkan karbon kita”. “Dengan SP menyertai konsortium rakan kongsi kenderaan elektrik, Grab berada dalam kedudukan unik untuk membantu menghasilkan penggunaan kenderaan yang lebih bersih, lebih hijau di Singapura dengan menggalakkan lebih banyak pemandu kami menggunakan EV,” kata ketua Grab Singapura, Encik Lim Kell Jay. Kereta elektrik sepenuhnya sudah ada melalui Grab tetapi bilangannya tidak diketahui. Kenderaan ‘hijau’ itu telah dilancarkan baru-baru ini. Kini terdapat 647 kereta hibrid elektrik dan plug-in bulan lalu (Julai) berbanding 137 dua tahun lalu. Pada Februari, peruncit elektrik Red Dot Power mengumumkan perkongsian dengan firma teknologi pengecasan Finland PlugIT untuk memasang sekurang-kurangnya 50 stesen pengecasan menjelang akhir tahun depan. Operator perkongsian kereta elektrik BlueSG mahu membina 2,000 tempat pengecasan menjelang 2020, dengan 400 daripadanya boleh digunakan orang ramai. Syarikat besar teksi ComfortDelGro telah memperkenalkan dua teksi elektrik Hyundai Ioniq bulan lalu sebagai sebahagian daripada percubaan selama setahun. Teksi HDT Singapura pula akan memperluas kereta elektrik sepenuhnya daripada 100 sekarang kepada 800 menjelang Julai 2022. Average-Electricity-Consumption--kWh-_Nov-24-to-Oct-25.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/Average-Electricity-Consumption--kWh-_Nov-24-to-Oct-25.xlsx Consumption_Elect Average consumption of Electricity (kWh) Premises Types Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 HDB 1-Room 121 119 128 136 150 143 150 136 136 144 127 124 HDB 2-Room 161 156 169 181 195 190 195 177 177 188 164 165 HDB 3-Room 231 231 250 265 284 273 280 257 259 271 242 239 HDB 4-Room 320 309 341 363 390 381 388 358 355 377 334 330 HDB 5-Room 374 359 399 425 457 450 459 423 417 444 392 386 HDB Executive 458 445 495 522 562 554 562 520 513 546 478 472 Apartment 419 417 476 516 548 536 541 513 501 538 500 451 Terrace 744 714 775 823 881 848 866 817 818 836 785 734 Semi-Detached 974 960 1,031 1,080 1,173 1,123 1,121 1,072 1,056 1,107 1,016 951 Bungalow 1,872 1,904 2,016 2,154 2,244 2,175 2,168 2,190 2,074 2,202 2,040 1,950 Note: The figures exclude electricity consumption for PAYU customers and customers who are not purchasing electricity at the regulated tariff. Average-Water-Consumption--CuM-_Nov-24-to-Oct-25.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/Average-Water-Consumption--CuM-_Nov-24-to-Oct-25.xlsx Consumption_Water Average consumption of Water (CuM) Premises Types Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 HDB 1-Room 7.8 7.2 7.8 7.8 8.1 7.8 8.1 8.0 7.8 7.9 7.7 7.7 HDB 2-Room 9.1 8.4 9.0 9.0 9.1 9.0 9.3 9.2 8.8 9.1 8.7 8.9 HDB 3-Room 12.0 11.2 12.0 12.0 12.1 11.8 12.2 12.3 11.9 12.0 11.7 11.8 HDB 4-Room 15.2 14.3 15.3 15.1 15.4 14.9 15.4 15.6 15.1 15.3 14.7 14.8 HDB 5-Room 16.7 15.8 16.8 16.5 16.8 16.2 16.9 17.1 16.6 16.8 16.1 16.2 HDB Executive 18.7 17.8 18.8 18.4 18.7 18.2 18.8 19.2 18.4 18.8 18.1 18.2 Apartment 13.0 12.7 13.7 13.5 13.4 12.8 13.3 13.9 13.7 13.7 13.1 13.0 Terrace 25.7 24.7 25.7 25.1 25.6 25.1 26.1 26.5 26.0 26.0 25.8 25.7 Semi-Detached 30.6 29.8 31.0 30.4 30.9 30.5 32.0 32.5 31.1 31.6 30.5 30.7 Bungalow 49.4 48.6 51.5 48.4 49.7 49.3 50.9 53.6 49.6 52.7 49.3 52.6 1 2 3 4 5 ..... 86

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Apr-23 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 HDB 1-Room 127 142 152 147 145 143 146 144 135 126 126 132 150 152 149 140 151 148 139 142 128 127 121 119 HDB 2-Room 166 185 202 190 190 189 190 188 176 164 167 173 199 199 195 183 198 192 183 186 166 168 161 156 HDB 3-Room 242 270 288 271 272 269 274 269 247 236 241 250 292 285 277 264 283 277 266 266 243 238 231 231 HDB 4-Room 326 367 391 371 371 367 374 370 342 321 330 342 398 396 383 360 385 381 363 365 338 327 320 309 HDB 5-Room 381 428 456 437 434 427 437 436 401 367 381 399 463 466 448 416 447 446 427 429 397 379 374 359 HDB Executive 473 528 561 531 536 528 541 530 478 456 474 489 575 568 544 515 546 548 520 523 481 462 458 445 Apartment 465 543 585 546 514 515 537 541 483 430 435 486 578 573 543 500 513 539 523 519 486 446 419 417 Terrace 756 867 902 868 866 859 890 881 804 740 794 821 957 900 872 838 847 885 851 851 785 747 744 714 Semi-Detached 1,024 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 Bungalow 2,016 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

SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Best-in-class customer experience, with a personal touch RELIABILITY Our colleagues inspire us with their talent, dedication and capacity to juggle many hats in their profession, family and the community. Meet Jacqueline Chew as she gives us a glimpse into her work as the Head of Customer Care and mother to two 6-year old twins. Discover how Jacqueline and her team stayed resilient during the Circuit Breaker, focus on providing best-in-class customer experience and show what it takes to have a meaningful career in customer service. Jacqueline Chew, Head of Customer Care, is a firm believer of putting customers at the heart of service. Leading a team of 37, she is a familiar face at our Customer Service Centre at HDB Hub, Toa Payoh.  No two days are the same for Jacqueline. She is a strong pillar of support for her team, including the frontline customer service ambassadors.   The period during Circuit Breaker called for Jacqueline and her team to be steadfast and agile as they swiftly implemented safe management measures at the Customer Service Centre that remained open. They patiently tended to a surge in customer queries when meter reading services were suspended and bill estimation was in place.   “The Circuit Breaker period was most memorable. In order to maintain our service and keep the staff and customers safe, we had to re-design how we functioned. I recall not seeing my twins on weekday nights by the time I got home. I turned into a weekend mum! It was really tough on both home and work fronts, but I am glad we soldiered on and got through it.” Having spent more than 20 years in the service line, Jacqueline has seen how digitalisation has improved quality of life for people from all walks of life. She is constantly observing and thinking of ways to provide a seamless experience and has spearheaded several initiatives. “Service is not about reacting to issues, but constantly engaging our stakeholders, reviewing and anticipating their needs to meet their demands of tomorrow.” Beyond the centre, Jacqueline and her team are determined to provide best-in-class customer experience by incorporating technology and re-designing processes. This includes providing a one-stop service with the SP Utilities App at customers’ convenience. With her hands full, she credits her family and her teammates for empowering her to excel at work and at home.    “To young children, we mean the world to them. After a long day at work, rallying the team and managing unexpected customer cases, sometimes I wish for a quiet and restful night. When I get home, my twins ‘fight’ for my attention before I can take my dinner and unwind. Like most mums, my me-time only begins when they are asleep.” When asked on her advice for younger women keen to embark on a career in customer service, Jacqueline shares that this line of work is a good stepping stone to sharpen interpersonal skills through interaction with people from all walks of life. “You can also hone your problem-solving skills, to think on your feet and develop a pulse for the customers’ needs.” TAGS SERVICE EXCELLENCEPEOPLE OF SP YOU MIGHT BE INTERESTED TO READ How this 'grid doctor' maintains the health of Singapore's electricity network so everything stays on Ground feedback, digital tools: How she helps 8,000 workers end their day safely Faster repairs, fewer disruptions: Meet the innovative teams using smart tech to keep your piped gas supply flowing