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Written reply to PQ on energy market liberalisation

Written reply to PQ on energy market liberalisation

Question

Ms Foo Mee Har: To ask the Minister for Trade and Industry with liberalisation of the electricity market for the Jurong region since 1 April 2018 (a) how many eligible households have opted to switch from buying electricity from SP Group; and (b) what is the average cost savings experienced by these households who chose the alternative providers.


Written reply:

1.             The Energy Market Authority introduced the Open Electricity Market in Jurong in April 2018, providing around 120,000 households and small businesses with the choice to buy electricity from a retailer with a price plan that best meets their needs. Consumers who do not wish to switch to a retailer can remain with SP Group and continue buying electricity at the regulated tariff, and there is no deadline for switching. This soft launch has gone well. As of mid-September 2018, more than 30% of Jurong households have switched to a retailer. These households are paying an average electricity rate that is 20% lower than the regulated tariff. EMA will progressively extend the Open Electricity Market to the rest of Singapore from 1 November 2018. 
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