What is Open Electricity Market
Timeline on how Energy Market Authority (EMA) progressively opened up the retail electricity market.
Corporatisation of PUB’s gas and electricity undertakings
PUB's electricity and piped gas undertakings wre corporatised to introduce competition into the energy market.
Energy Market Authority formed
A new "referee" for the energy sector, EMA, was set up to focus on liberalising the electricity and gas markets, as well as operating the power system. The Energy Market Company (EMC) was incorporated and took over the operation and adminstration of the wholesale electricity market.
Boosting Consumer Choice
The first wave of retail liberalisation began when about 250 commercial and industrial (C&I) consumers with electricity demand of 2MW and above became contestable. This means they could choose which supplier to buy electricity from, based on the price packages offered.
Opening for monthly consumption above 10,000kWh.
Large consumers, comprising business and industries, whose average monthly electricity consumption was 10,000 kWh and above became contestable. They formed 75% of Singapore's total electricity demand.
Minimum monthly consumption lowered to 8,000kWh.
The threshold for contestability was lowered from 10,000 kWh to 8,000 kWh to allow more non-residential consumers to be eligible for retail contestability.
Minimum monthly consumption lowered to 4,000kWh.
The threshold for contestability was subsequently lowered from 8,000 kWh to 4,000 kWh. In total, 76,000 accounts (23,000 consumers) are eligible for retail contestability.
Minimum monthly consumption lowered to 2,000kWh.
The threshold for contestability was further lowered from 4,000 kWh to 2,000 kWh. An additional 13,500 accounts (10,000 consumers) are now eligible for retail contestability.
Soft launch for all households and businesses in Jurong.
Households and businesses in Jurong can choose to buy electricity from a retailer with a price plan that best meets their needs. The soft launch of the Open Electricity Market (previously referred to as Full Retail Competition) will provide consumers with more choices and flexibility in their electricity purchases. A total of 108,000 residential consumer accounts and 9,500 business consumer accounts will have the option of buying electricity from a retailer of their choice, or continue buying electricity from SP Group at the regulated tariff.