About
Open Electricity Market

Since 2001, the Energy Market Authority (EMA) has progressively opened up the retail electricity market to competition for the benefit of consumers.

Starting 1 March 2019, households with postal codes starting with 34 - 83 can choose to buy electricity from a retailer with the price plan that meets their needs. Consumers with postal codes starting with 53 – 80, 82 - 83 have been able to buy from a retailer progressively since 1 April 2018.

Open Electricity Market will be extended to consumers across Singapore by zones. Check out the rollout schedule to find out when you can make the switch!

There are 2 types of plans available:

Fixed Price Plans

are more suitable for consumers who prefer a constant electricity rate throughout the contract duration. However, the electricity rate may be higher or lower than the regulated tariff during the contraction duration, as the regulated tariff is reviewed every quarter.

Discount Off the Regulated Tariff Plans

provide a fixed discount off the regulated tariff for the duration of the contract, but the electricity rates will change in tandem with prevailing regulated tariff. These plans are more suitable for consumers who do not mind changes in electricity rates every quarter as long as it is lower than the regulated tariff.

Click here to see electricity tariffs for the past 12 months.

SAVE ON
YOUR
ELECTRICITY
BILLS

Here’s an illustration of estimated savings based on a S$100 monthly electricity bill using:

  • A Fixed 6-month Plan – 18.03 cents/kWh and S$40 retailer’s sign up offer
  • 5% UOB One Card- rebate

All prices above include GST.

Click here for terms and conditions.

Savings from switching to retailer (18.03 cents/kWh vs current regulated tariff of 24.39 cents/kWh)

S$26.08

+

S$40 retailer’s signup
offer over committed tenure

S$6.67

+

5% UOB One Card-
additional rebate

S$3.36

=

Total effective
savings

S$36.11 (36%*)

S$433.32*Annually

Find the best plan

Choose the best fit for your electricity needs below.

Featured Retailers

*Savings of up to S$433.32 (36%) savings per year is calculated based on: S$100 monthly average household electricity bill (including GST) on a Fixed 6 months plan at S$0.1803 per kWh measured against the same usage at the prevailing Singapore Power regulated tariff for the period of April to June 2019; (a) S$40 retailer’s sign up offer and (b) Further 5% cash rebate for recurring payments on UOB One Card on top of sign up offer.

-Enjoy up to 5% cash rebate based on a spend of S$2,000 monthly for each qualifying quarter with min. 5 purchases monthly to earn the quarterly cash rebate of S$300. Enjoy up to 3.33% cash rebate based on a spend of S$500 or S$1,000 monthly for each qualifying quarter with min. 5 purchases monthly to earn the quarterly cash rebate of S$50 or S$100 respectively. Each qualifying quarter consists of 3 consecutive statement periods. Please refer to full set of UOB One Visa Credit Card Terms and Conditions at uob.com.sg/one.

#Price Plans are inclusive of GST and accurate as of 8 April 2019. Total savings per month is computed based on the original monthly average household electricity bill provided and on the respective plan measured against the same usage at the prevailing Singapore Power regulated tariff (for period of April to June 2019); a) respective retailer’s sign up offer and b) Further 5% cash rebate for recurring payments on UOB One Card on top of sign up offer. The recommendation and estimated savings are calculated based on the information provided by you and shall not be regarded as an advice or recommendation by United Overseas Bank Limited (“UOB”). UOB shall not be liable for any error and/or loss suffered as a result of the recommendations. UOB is not an agent of the electricity retailers and assumes no liability or responsibility for the acts or defaults of the electricity retailers. Any disputes arising out of any transactions are to be resolved directly with the relevant parties and UOB shall not be liable for any such disputes.

Disclaimer:
United Overseas Bank Limited ("UOB") assumes no liability or responsibility for the acts or defaults of the merchant or defects in the goods and services offered in this promotion. UOB is not an agent of the merchant. Any dispute about the quality or service standard must be resolved directly with the merchant. The merchant may impose conditions for the redemption of the goods or services. UOB will not be responsible for any injury, loss or damage suffered as a result of the redemption or usage of the goods and services. While the information provide herein is believed to be reliable as at the date of printing, UOB makes no representation or warranty whether expressed or implied, and accepts no responsibility or liability for its completeness or accuracy. UOB and the participating merchants reserve the right to vary/amend the privileges and/or terms and conditions without prior notice.

1Diamond Electric: One-time rebate for UOB Cards is valid till 30 April 2019 for all new recurring bill payments on selected Diamond Electric plan. Terms and conditions apply. Visit uob.com.sg/de for full details.

2Geneco: Additional discount for UOB Cards is valid till 30 June 2019 for all new recurring payment plans for Geneco electricity bills. Visit uob.com.sg/geneco for full details.

3iSwitch: One-time rebate for UOB Cards is valid till 30 April 2019 for all new recurring bill payments on selected iSwitch plans. Terms and conditions apply. Visit uob.com.sg/iswitch for full details.

4Keppel Electric: One-time rebate for UOB Cards is valid till 30 April 2019 for all new signups for recurring payment plans for Keppel Electric electricity bills. Visit uob.com.sg/ke for full details.

5PacificLight Energy: One-time rebate and Security Deposit waiver for UOB Cards is valid till 30 June 2019 for all new signups for recurring payment plans for PacificLight Energy bills. Visit uob.com.sg/ple for full details.

6Sembcorp Power: One-time rebate for UOB Cards is valid till 30 April 2019 for all new recurring bill payment on Sembcorp Power electricity plans. Terms and conditions apply. Visit uob.com.sg/sembcorp for full details.

7Senoko Energy: One-time rebate for UOB Cards is valid till 30 April 2019 for all new recurring payment plans on Senoko Energy electricity bills. Visit uob.com.sg/senoko for full details.

8Sunseap Energy: Promotion is valid till 30 April 2019 for all new recurring payment plans on Sunseap electricity plans. Terms and conditions apply. Visit uob.com.sg/sunseap for full details.

FAQs

Existing UOB customers can simply need to provide the following information:

  • Name
  • NRIC Number
  • Copy of NRIC
  • Address
  • 10-digit SingPower Account Number eg. 89xxxxxxxx (top right-hand corner of your SP Services Utilities Bill)

If you do not have a UOB card, click here to sign up now.

Yes, if your postal code of your residential/business premises starts with 34 - 83

All UOB debit and credit cards are eligible for the promotion with the exception of any UOB American Express Cards, JCB Cards, UnionPay Cards, Travel Account, Corporate (on corporate liability), Purchasing, Business, Multicurrency Corporate and Private Label cards.

Visit “Featured retailers” tab for more details.

No, you can continue to buy electricity from SP Group at the regulated tariff as you do today.

You can choose to buy electricity from 13 different retailers based on a price plan that best suits your needs. Click here for the full list of electricity retailers.

Retailers on our portal are currently offering standard price plans with the following pricing structure with different contract periods:
Fixed Price: Pay a fixed rate per kWh (eg. $0.20/ kWh) for electricity for the entire duration of your contract. This allows for greater certainty in monthly electricity costs.

Discount off the regulated tariff: Enjoy a guaranteed discount off regulated SP tariff (reviewed quarterly) during your contract duration. This allows for more predictable quarterly electricity bills.

You can either keep your current meter or install a smart meter.

If you decide to keep your current meter, it will continue to be read once every two months. Changing to a smart meter will allow you to measure your half-hourly electricity consumption. A charge will apply.

For more details, please click here to visit the OEM website.

Yes, the new retailer’s electricity supply will be reliable as the SP Group will still be operating the national power grid and supplying electricity to everyone.
Electricity supply will not be disrupted during the switch. The switch is a seamless process and purely administrative for residential premises/ home consumers.

Yes, home consumers can change over to buying electricity from SP Group at a regulated tariff or to other electricity retailers at the new price plan.
Switches before the end date of the contract might come with an early termination fee. Please check with your existing electricity retailer.

SP Services will continue to bill your water, gas and refuse removal charges. Your new electricity retailer will mail your electricity bill separately.

You can download a copy of "Introduction to the National Electricity Market of Singapore" here.

To participate in this promotion and the recurring payment service, your UOB Card account must be in good standing and remain valid for the monthly bills to be debited successfully. Promotion is open to all cardholders of United Overseas Bank Limited ("UOB") debit and credit cards issued in Singapore ("UOB Card") with the exception of any UOB JCB Cards, Travel Account, Corporate (on corporate liability), Purchasing, Business, Multicurrency Corporate and Private Label cards. Please continue to pay to the relevant merchants until you see the amount reflected on your monthly UOB Card statement. All applications are subject to approval from the relevant merchants. Should you cancel or replace your UOB Card, please make alternative payment arrangements with your relevant merchants. If your existing account is paid by GIRO, the GIRO payment arrangement will be terminated. Please contact the relevant merchant(s) to make alternative payment arrangements should you wish to terminate this payment arrangement. If any payment charged to your UOB Card is unsuccessful for any reason whatsoever, you will be responsible for arranging payment to that merchant by other means. UOB shall not be liable for any loss, expenses delays, mistakes, neglect or omission in the transmission of payment under this facility or for any unsuccessful payment. UOB reserves the right to amend these terms and conditions in its sole discretion without giving any reasons.

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