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Written reply to PQ on consumer electricity market share

2 November 2020

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Questions

Mr Leong Mun Wai: To ask the Minister for Trade and Industry (a) what is the breakdown of the consumer electricity market share by retailers and SP Group; (b) what percentage of SP Group's electricity supply to consumers is covered by the vesting contracts; and (c) what is the expiration schedule of the vesting contracts by electricity production. 

Written Answer by Minister for Trade & Industry Mr Chan Chun Sing

1. Mr Speaker, 48% of around 1.4 million household consumers and 46% of around 175,000 business consumers have switched to a retailer, as of end-September 2020. The remaining 52% of household consumers and 56% of business consumers remain with SP Group on the regulated tariff.

2. The electricity that SP sells to consumers is covered by vesting contracts.  SP acts as an intermediary – the payments for electricity are fully passed on to the generating companies with the vesting contracts.  

3. The vesting contracts will expire in June 2023. EMA is studying options for the regulated tariff after the expiry of the vesting contracts.

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