facebookBest Electricity Retailers in Singapore 2022 - Seedly
Updated January 2022

Best Electricity Retailers

Compare and read real user reviews on Electricity Retailers in Singapore

12 Products Found

    Most Popular
    Most ReviewedHighest RatingA-Z
    Slide 1 of 5

    Customer Support

    4.8

    Ease of signup

    4.8

    Online Portal

    4.7
    ET

    "Just renewed household utility contract with Tuas Power. Have been with them..." 1d ago

    Customer Support

    5.0

    Ease of signup

    5.0

    Online Portal

    4.9
    A

    "Cheap plan and even better sign up benefits compared to others. Integrated..." 1mth ago

    Slide 1 of 3

    Customer Support

    3.9

    Ease of signup

    4.7

    Online Portal

    4.0
    Quek

    "Sign up process was easy. The app is not exactly an app,..." 2w ago

    Slide 1 of 5

    Customer Support

    4.7

    Ease of signup

    4.8

    Online Portal

    4.8
    T

    "Switched to Senoko in Oct 21. Very good service and everything was..." 3w ago

    Slide 1 of 5

    Customer Support

    4.6

    Ease of signup

    4.8

    Online Portal

    4.7
    Cmu Print

    "Quick and easy signup process, and the best 12 month fixed price..." 2w ago

    Slide 1 of 3

    Customer Support

    3.9

    Ease of signup

    4.3

    Online Portal

    4.1
    Gregory Cheng

    "it is very easy to signup and the fares are relatively reasonably..." 3w ago

    Slide 1 of 4
    妖精法律

    "Good and reliable! Generally, optimists who don’t see any problem with..." 28mth ago

    Fixed rate of 32.10c/kWh

    PLAN TYPE

    32.10

    RATE

    6m

    CONTRACT

    Customer Support

    4.5

    Ease of signup

    4.6

    Online Portal

    4.1
    KL

    "[Customer Services] is doesn't exist at all ! The standard machine will..." 3d ago

    Customer Support

    2.9

    Ease of signup

    3.9

    Online Portal

    3.5
    Padmalosinee Kualasekaran

    "I've extended with iSwitch its coming to 3 yrs so far not..." 3mth ago

    Slide 1 of 10
    Jian Wei

    "[Customer Services] [Hidden Costs] Absolutely ridiculous, I clear my bill at the end of..." 1mth ago

    Disclaimer: Products with a “Visit Site” button pay to access additional features.

    Seedly's Product Comparison Page Listing Guidelines
    For Electricity Retailers products to be listed on Seedly's Product Comparison Page, they have to fulfil the following criteria:

    • Approved by Energy Market Authority (EMA)

    The Best Electricity Providers in Singapore 2021

    Want to lower your electricity bill? The best way is to switch to an electricity retailer with the best and cheapest electricity plans from local Open Electricity Market providers.

    Wanna save more?

    You can also take advantage of these OEM electricity retailer promos that are ongoing right now!

    oem electricity retailer promos 2021

    But there's more to it than just price.

    Usually, you would ask a friend or a family member for recommendations based on what they've used before.

    However, there's an even simpler of doing that.

    And that's by checking our reviews left by users on SeedlyReviews!

    For example, while an OEM retailer might notbe the cheapest option in the market.

    The fact that they're most popular based on reviews is probably because they provide excellent customer support, make it extremely easy to sign-up with them, or have a user-friendly online portal that is easy to navigate.

    It's true when they say that the cheapest might not necessarily be the best!

    What is the Open Electricity Market (OEM)?

    Back in 2017, the Electricity Market Authority (EMA) announced the Open Electricity Market (OEM) initiative in order to encourage competition and innovation in the power industry.

    Prior to that, everyone could only get their power from SP Group.

    Between 1 November 2018 to May 2019, the OEM was slowly expanded across 4 distinct geographical zones to eventually allow all Singaporean households the choice to switch to an electricity provider of their choice.

    This gradual implementation has since been completed which means that any resident in Singapore can now choose to switch to an electricity retailer.

    However, if you prefer to stick with SP Group, that's fine too.

    Because the switch is not mandatory and there is no deadline which you have to switch by either.

    How Does Singapore's Open Electricity Market Work?

    Curious to know how the electricity market works?

    Here's how:

    All electricity is produced by power generation companies which own power plants.

    These companies will then bid to sell their electricity on the wholesale electricity market in bulk.

    FYI: the rates are changing every half-hour and are constantly affected by electricity demand and supply.

    In the past, SP Group buys the electricity in bulk and is in charge of delivering it to the whole of Singapore.

    But with the introduction of the Open Electricity Market, it's the electricity retailers who will bulk buy electricity from the wholesale electricity market.

    And in turn, they will sell it to us, the consumers.

    The rates we pay will depend on which retailer we choose to buy our electricity from!

    With this new OEM initiative, the source of our electricity supply and the network through which we receive are still the same.

    SP Group continues to operate the national power grid and is responsible for delivering electricity to you and me.

    The only difference is how much we pay to the retailers.

    What are the Benefits of the Open Electricity Market (OEM)?

    Here are some of the benefits of opening up the electricity market to retailers and Singaporeans:

    Competition can help increase efficiency in the market

    With retailers competing with each other for market share, Singapore households can expect competitive pricing and promotional packages to attract consumers to take up their service.

    As electricity is the only product being sold, these companies will try to differentiate their service by providing better prices or establishing creative new pricing methods, additional incentives, and on top of that, good customer service to their consumers.

    Consumers now have a choice

    Singaporeans' electricity bills used to be correlated to the quarterly tariff rate which SP Group offers. By allowing consumers to choose from different types of plans and between the various retailers, consumers can now find an electricity retailer that best suits their lifestyle and consumption habits. This, in turn, might lead to cheaper electricity bills. Yay!

    Increase awareness of electricity consumption

    When was the last time anyone actually looked closely at their electricity bill and understand their own electricity consumption pattern?

    This introduction of the OEM has encouraged many Singaporeans to carefully analyse their electricity usage behaviour in order to try and lower their electricity bills.

    This increased awareness will definitely help us to reduce electricity consumption and wastage in the long-run.

    Who would want to pay more for electricity if they choose not to?!

    Pricing for Electricity Plans

    With the new OEM, how would retailers price electricity? Will it still be the same as with SP Group?

    Standard Price Plans vs Non-Standard Price Plans

    Well, there are standard price plans and non-standard price plans. For Standard Price plans you'll have to agree to certain terms and fees. For non-standard price plans, these are new price structures set by the electricity retailers that may not include every single fee BUT might change during the contract duration.

    Standard Price Plans are:

    • Fixed Rate Plans
    • Discount off the Regulated Tariff (DOT) Plans

    Here's an overview of differences between Standard and Non-Standard Price plans:

    Area of Difference

    Standard Price Plan

    Non-Standard Price Plan

    Electricity Rates

    • Inclusive of all applicable charges that vary according to the level of consumption.
    • Will not change throughout the contract duration.
    • May not be inclusive of all applicable charges that vary according to the level of consumption.
    • May change in accordance with the terms and conditions of the contract

    Other Fees and Charges

    No recurring charges or fees throughout the contract duration.

    May include recurring charges or fees throughout the contract duration.

    Contract Duration

    6, 12 or 24 months

    Not limited to 6, 12 or 24 months

    Pricing Structure

    Fixed Rate OR Discount Off Tariff

    The electricity retailer may set its own pricing structure. Some of these interesting pricing structures are:

    • Cash Upfront or Rebates
    • Wholesale Rates with Fees
    • Peak and Off-Peak pricings

    Summary of Standard Price Plans vs Non-Standard Price Plans

    Need Help Choosing Electricity Retailers?

    There are a total of 12 electricity retailers in the OEM to choose from:

    1. Best Electricity
    2. Diamond Electric
    3. Geneco
    4. Keppel Eletric
    5. PacificLight
    6. Sembcorp Power
    7. Senoko Energy
    8. Sunseap
    9. Tuas Power
    10. Union Power

    If you're going, "So how to choose sia..."

    We gotchu fam!

    To help Singaporeans make a smarter personal finance decision when it comes to their electricity bills, here are some resource(s) to help you:

    Still have questions about the open electricity market after reading these reviews?

    You can always ask the ever-helpful Seedly community!

    Contact us at [email protected] should you require any assistance or spot any inaccuracies.