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 May 2019, all households in Singapore can choose to buy electricity from a retailer with the price plan that meets their needs.

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 12-month Plan – 18.33 cents/kWh and S$55 retailer's sign up offer
  • 5% UOB One Card cashback

All prices above include GST.

Click here for terms and conditions.

Savings from switching to retailer (18.33 cents/kWh vs current regulated tariff of 25.02 cents/kWh)

S$26.73

+

S$55 retailer's signup
over committed tenure

S$4.58

+

5% UOB One Card-
additional cashback

S$3.44

=

Total effective
savings

S$34.75 (35%*)

S$417*Annually

Find the best plan

Choose the best fit for your electricity needs below.

Featured Retailers

Savings of up to S$417 (35%) savings per year is calculated based on: S$100 monthly average household electricity bill (including GST) on a 12 months plan at S$0.1833 per kWh measured against the same usage at the prevailing Singapore Power regulated tariff for the period of July to September 2021; (a) S$55 retailer’s sign up offer and (b) 5% cashback for recurring payments on UOB One Credit Card.

-Enjoy up to 5% cashback based on a spend of S$2,000 monthly for each qualifying quarter with min. 5 purchases monthly to earn the quarterly cashback of S$300. Enjoy up to 3.33% cashback 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 cashback 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 30 July 2021. 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 July to September 2021); a) respective retailer’s sign up offer b) 5% cashback 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 from 1 July till 30 September 2021 for all new recurring bill payments on selected Diamond Electric plan. Terms and conditions apply. Visit uob.com.sg/de for full details.

2Geneco: 1% savings promotion for UOB Cards is valid till 30 September 2021 for all new recurring payment plans for Geneco electricity bills. Visit uob.com.sg/geneco for full details. Up to S$96 bill rebate promotion comprises of S$56 Geneco bill rebate; S$20 Geneco referral rebate and an additional S$20 bill rebate for new recurring bill payments with UOB Cards. Terms and conditions apply. Visit www.uob.com.sg/genrebate for the terms and conditions on the S$20 UOB bill rebate promotion. For more details and terms & conditions on Geneco's promotions, please click here.

3iSwitch: One-time rebate for UOB Cards is valid till 30 September 2021 for all new recurring bill payments on the selected iSwitch plans. Terms and conditions apply. Visit uob.com.sg/iswitch for full details.

4Keppel Electric: One-time S$20 rebate for UOB Cards is valid from 1 July till 31 August 2021 for all new recurring bill payments on 24-month Keppel Electric electricity plans. Visit www.uob.com.sg/ke for full details. For the S$40 Keppel Electric bill rebate promotion, please click here to find out more.

5PacificLight Energy: One-time rebate for UOB Cards is valid from 1 July till 31 December 2021 for all new signups for recurring payment plans on PacificLight Energy bills. Visit uob.com.sg/ple for full details.

6Sembcorp Power: Valid from 1 August till 30 September 2021. Up to S$60 bill rebate on a 12-month electricity plan comprises of S$20 Sembcorp bill rebate; S$20 Sembcorp referral rebate and an additional S$20 bill rebate for new recurring bill payments with UOB Cards. Visit www.uob.com.sg/sembcorp for the terms and conditions on the S$20 UOB bill rebate promotion. For more details on Sembcorp’s promotions, please click here.

7Senoko Energy: Promotion is valid from 1 August till 23 August 2021 for all new recurring payment plans for Senoko electricity bills. Visit uob.com.sg/senoko for full details. For the S$30 referral promotion, please click here to find out more.

8Sunseap Energy: One-time rebate for UOB Cards is valid till 30 September 2021 for all new recurring bill payments on Sunseap electricity plans. Terms and conditions apply. Visit uob.com.sg/sunseap for full details.

9Union Power: Promotion is valid from 1 July to 31 July 2021 for all new recurring payment plans on Union Power electricity bills. Visit uob.com.sg/up 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, starting 1 May 2019, all households in Singapore can choose to buy electricity from a retailer with the price plan that meets their needs.

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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