The Energy Market Authority (EMA) is the regulator of the National Electricity Market of Singapore (NEMS). Under EMA’s direction, the NEMS has been liberalized in phases, first, through generation assets being privatized and then through allowing large Commercial & Industrial (C&I) users to freely buy electricity from licensed Electricity Retailers.
What does this mean to you?
At present, all Commercial & Industrial (C&I) consumers who use at least 2,000 kWh (around $400 bill amount) and above, of electricity per month are considered contestable and can buy electricity from any licensed Electricity Retailers of their choice such as MyElectricity Pte Ltd.
At the moment, households are still non-contestable, meaning they can only buy electricity from Singapore Power (SP). Nevertheless, starting April 2018, households and businesses in Jurong and subsequently nationwide will have greater freedom in choosing their electricity provider through the launch of Open Electricity Market (OEM) by the Energy Market Authority (EMA). The Households will also become contestable, allowing them to buy electricity from any licensed Electricity Retailer like MyElectricity Pte Ltd.
Every household’s electricity usage pattern is different, there is no one size fits all. The OEM allows households to benefit from pricing plans that meet their individual needs, without compromising on safety or reliability of electricity supply.
The extension of the Open Electricity Market (OEM) to the rest of Singapore is set to happen in the second half of 2018.