customers whose energy retailer is exiting the market and their accounts are
being transferred to SP Services:
We would like to assure customers whose accounts are being transferred to SP Services due to the exit of their energy retailer, that there will be no disruption to your electricity supply in the process. For queries on your account set-up with SP, you may refer to the FAQs here. Please refer to your energy retailer for information specific to your account with the retailer.
SP Group supports the liberalisation of the electricity retail market, where consumers – households and businesses — can choose their electricity retailer and price plan.
The soft launch of the Open Electricity Market (OEM) took place in April 2018, at Jurong for customers with postal codes starting 60, 61, 62, 63 or 64.
The nationwide launch was rolled out progressively in four geographical zones.
Postal Codes Starting With...
1 November 2018
53 —57, 79, 80, 82, 83
1 January 2019
34 — 52, 81
1 March 2019
1 May 2019
SP will continue to operate the national electricity grid so consumers enjoy the same reliable and efficient electricity supply, regardless of their choice of electricity retailer.
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:
Besides the regulated tariff, SP Group also offers a non-standard price plan where customers can buy electricity from the wholesale electricity market. This price plan does not have a fixed contract period.
Under this arrangement, the consumer buys electricity at the wholesale electricity price (WEP) which varies every half hour depending on the prevailing demand and supply situation in Singapore's wholesale electricity market.
The WEP would typically rise due to increasing electricity demand and/or outage of generating units. Consumers can refer to the chart below which shows the lowest and highest half-hourly wholesale electricity prices* in 2019. For example, in the month of February 2019, the half-hourly prices ranged between 14.32 cents/kWh and 155.83 cents/kWh.
*Source: Energy Market Authority. Figures provide an equivalent charge per kWh under a WEP plan. Actual calculation of charges will be presented in detail in customers’ bills. Figures exclude Meter Reading and Data Management Charge ($2.18 per meter) and Vesting Debit/Credit (if applicable) for the quarter.
If you prefer more price certainty, you may consider other price plans such as a Fixed Price or Discount off the Regulated Tariff plan offered by an electricity retailer. To choose the plan that best suits your needs, you can compare the standard price plans offered by the electricity retailers using the Price Comparison Tool.
There are three simple steps to switch to a retailer.
1: Shop around and check out the price plans that retailers offer. You can compare their standard price plans here to find one that best meets your needs.
2: Contact your preferred retailer and ask for more information on the price plan you are interested in. Take note of contractual terms such as the contract duration, payment terms, security deposit, early termination charges and auto-renewal clauses.
3: Sign up with your preferred retailer, who will then work directly with SP Group to perform the switch for you. Customers will continue to be eligible for U-Save rebates no matter which electricity retailer you switch to.
Do I need to close my existing account with SP Group before switching to a retailer? No, you do not have to close your existing account. Your retailer will work directly with SP Group to make the switch for you.
When will my security deposit be refunded after I have switched to a retailer? Your security deposit is divided between your electricity and non-electricity accounts. 65% of your security deposit is allocated to your electricity account, which will be used to offset any outstanding charges with SP Group. The balance, if any, will be used to offset future non-electricity charges.
I received a message informing me to submit meter reading upon switching. Is it compulsory for me to submit and how do I submit? It is recommended to submit your own meter reading upon switching to ensure that your bill reflects your actual consumption. Otherwise, your first bill with the retailer will be estimated based on your previous electricity consumption. Upon switching, you can submit your meter reading via the Open Electricity Market website or through the SP Utilities app.
Why am I being billed twice? I’ve switched to a retailer. You will receive two bills upon switching to a retailer – one from your retailer for your electricity consumption, and another from SP Group for water, gas and refuse. However, if your chosen retailer partners SP Group for billing-on-behalf services, you will receive one consolidated bill for electricity, water, gas and refuse.
Is an AMI meter chargeable and when will my meter be changed? All electricity meters will be changed to AMI meters progressively. If you wish to opt-in for an AMI meter before that, there is a charge of $40 (excluding GST).
account will be/has been transferred to SP Services as my energy retailer has
exited the market. I would like to find out more information from SP
Services on my new plan. For customers whose accounts are being transferred to SP Services due to the exit of their energy retailer, please click here.