Open Electricity Market - Which is the Best Electricity Retailer in Singapore?

You've probably heard and seen many articles with regards to the open electricity market launch in Jurong. With 14 electricity retailers to select from, the choice gets tougher when you have to decide between the various plans that each retailer offer. Prices also fluctuates pretty much against competition — your friend may have gotten a very good plan at the start of April with a particular retailer but this plan may no longer exist.

Image credit: https://www.openelectricitymarket.sg/home

Image credit: https://www.openelectricitymarket.sg/home

Image credit: https://www.openelectricitymarket.sg/home

How many electricity retailers are there and who are they?

The 14 retailers are:

• Best Electricity Supply
• Diamond Electric Merchants
• Hyflux Energy
• iSwitch
• Keppel Electric
• Ohm Energy
• PacificLight Energy
• Red Dot Power
• Sembcorp Power
• Senoko Energy Supply
• Geneco by Seraya Energy
• Sun Electric Power
• Sunseap Energy
• Tuas Power Supply

What plans can I select from?

There are 3 standard price plans that you can choose from:
a. Fixed Price Plan - Pay a fixed rate throughout a chosen terms (e.g 6, 12 or 24 months)
b. Discount Off the Regulated Tariff Plan  (Enjoy percentage off the Regulated Tarriff (updated quarterly))
c. Peak and Off-peak Plan (Pay more during peak period within a stated time, and lesser during non-peak period which is usually night time).

Fixed Price Plan, Discount Off Regulated Tariff Plan or Peak/off-peak plan?

The first step is to decide which type of plan would suit you most. No matter what calculations I did, I found that the 'discount off regulated tariff plan' isn't as worth it as the rest UNLESS electricity tariffs from SP becomes really low (i.e. $0.192), and I can't be certain about getting that price. The fixed price plan makes the most sense to me because I do not have to constantly monitor on the prices. Long term fixed rates make the most sense in terms of value and time savings!

Fixed Rate Electricity Price Compare

Retailer	Fixed Rate (per kWh)	FR Contract Duration	Referral Programme?	Other promos
iSwitch	0.1627	24 months
Sembcorp Power	0.163	24 months		Free 2 Months
SENOKO ENERGY	0.1635	24 months		Free 3 Months
Best Electric	0.1638	24 months
Keppel Electric	0.165	24 months
Sembcorp Power	0.165	12 months		Free 2 Months
RedDotPower	0.1678	24 months
Keppel Electric	0.168	12 months
GENECO	0.168	24 months
Ohm	0.1695	12 months	$20 OFF
iSwitch	0.17	12 months
RedDotPower	0.1718	12 months
iSwitch	0.173	6 months
Best Electric	0.175	12 months
Sun Electric	0.175	6 months
Diamond Electric	0.1888
Tuas Power	0.194	24 months
Ohm (Simple)	0.1535 + $10 (extra $10 fee)	N/A

Table updated as of 24th April 2018

Write in to littletinysun@gmail.com if you see any price changes in fixed rates so that we can keep everyone updated! :)