List and Rates of Open Electricity Market Suppliers Singapore


There has been a recent change in the electricity landscape. 

Open Electricity Market (OEM) suppliers were introduced a few years back. They had been providing contracts that peg the electricity rate at a lower value than the current prices. As such, it was beneficial for households to make the switch.


With the recent departure of iSwitch and OHM, only 10 OEM suppliers remain. 90,000 households from iSwitch and 27,000 households from OHM. Even within this rank, there are restructuring with Union Power dropping 850 customers. With these departures, understandably several households are concern about the future prospects of OEM. With more staying at home due to COVID19, electricity bills have already increased. Should OEM cease to operate, one may face as much as a 30% further rise in bills. 


Nonetheless, it is worth noting that unless you have an existing contract, the savings may not be as good for new customers. We compare the remaining OEM suppliers rates and SP Power rates. Out of the 10 remaining companies, only 8 are actively seeking new customers.

SP Power rates : 25.8 Cents per kilowatt (inc GST)

Keppel Electric

Has the largest share in the market of 22 % as of Apr 2021. The current rate is as follow.
Website




Geneco


The 2nd largest supplier. The fixed rates is now much higher than SP rates.

Website


Tuas Power



Number 3 on the list. It has a plan (Power Do ) that provides 3% off regulated tariff, ensuring that you get a lower price compared to SP Powers.

Website



SemCorp Power



The 4th largest since iSwitch departure. Currently, all plans are at 25.8 cents per Kwh

Website



Seneko Energy



Has one of the lowest tariff with a 12 months 9% discount off the quarterly regulated tariff.



Website


Pacific Light





Some plans are set lower than the current tariff rates.

Website

Best Electricity


There are currently no plans listed on the website.

Website

Diamond Electric



It has a plan on the website, but it is currently not available.

Website




Sunseap


There is a 6 and 12 months plan available.

Wesbite

Union Partner

Union Partner has removed some of their clients but plans are still available

Website








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