Singapore

Four in 10 Singapore households have switched to electricity retailer

Most have positive experience and enjoy savings of 20 per cent to 30 per cent

Four in 10 Singapore households have switched to an electricity retailer since the launch of the open electricity market (OEM) in April last year, the Energy Market Authority (EMA) said yesterday.

Most of them have found the experience to be positive, an EMA survey showed. The results of the consumer satisfaction survey of more than 10,000 households that have switched was published yesterday.

It found that 85 per cent of the respondents were satisfied with the level of service provided by their retailer, and 98 per cent found the process of switching retailers easy.

The survey also showed that residential consumers were generally aware of the electricity rate, contract start and end dates and details of their security deposit. The vast majority, or 94 per cent, of respondents indicated that their retailer presented its offers accurately.

EMA said those who switched retailers enjoyed savings of 20 per cent to 30 per cent compared with the regulated tariff.

Consumers who changed retailers in the past year told The Straits Times they were paying less for electricity and the switch was easy.

Author Jimmy Chua, 35, said his move to Ohm Energy in January went smoothly.

The father of one, who lives in a four-bedroom Housing Board flat in Sengkang, said his electricity bill is typically about $75, about 25 per cent lower than before.

The electricity market in Singapore opened up in April last year with a soft launch limited to residents in Jurong.

The OEM was then progressively rolled out to the rest of the country between November last year and May this year.

Previously, SP Group was the primary supplier of electricity to households.

The liberalisation of the market has meant that households here have more options when it comes to energy suppliers.

There are now 12 such retailers, including Geneco, iSwitch, and Keppel Electric.

But the rollout has not been without hiccups. A check yesterday found the Consumers Association of Singapore (Case) got 181 complaints against electricity retailers as of last month.

Case executive director Loy York Jiun said consumers are advised to do their research when selecting a plan.

EMA has developed a five-star rating system to reflect the overall satisfaction level for each retailer.

Ohm Energy, Sunseap Energy and Tuas Power came out tops, with four stars each.The ratings will be updated on the OEM website - www.openelectricitymarket.sg - every six months.

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