- POSTED: 06 Jun 2014 22:31
Commercial and industrial electricity-users in Singapore can now enjoy savings, with a variety of energy providers to choose from.
SINGAPORE: Commercial and industrial electricity-users in Singapore can now enjoy savings, with a variety of energy providers to choose from. As part of the Energy Market Authority's (EMA) retail contestability programme, Singapore Power has successfully deregulated the segment, enabling 15,000 more customers to voluntarily choose their electricity retailer and buy electricity at wholesale prices.
Commercial and industrial players can now pick electricity packages from different retailers that meet their needs, such as Tuas Power Supply, Senoko Energy Supply, Seraya Energy and Sembcorp Power.
Customers can also choose to continue buying electricity from SP Services, a subsidiary of Singapore Power, at regulated tariffs.
According to the EMA, customers who choose to buy electricity from the wholesale market will have to manage the risk of price fluctuations, which can fluctuate every half-hour.
EMA says the expansion of retail contestability has benefited customers from town councils to small- and medium-sized enterprises. They have achieved savings of between 3 and 12 per cent in electricity costs.