open electricity market retailers Singapore

Open Electricity Market & Benefits

The opening of electricity market in Singapore was happened in 1 November 2018 to different retailers. Before this, consumers are allowed to purchase electricity from the SP Group that charges regulated tariff that is based on the electricity consumption each month.

Solving the Problems

Consumers were among first to actually benefit from open electricity market retailers Singapore. It was rolled out by every batch in some other areas. Last two batches are launched at 1 March & 1 May 2019. More than 1.4 million of households as well as business owners are also expected to gain from open electricity market, and with flexibility to select the retailer or price plan, which suits the consumption patterns or needs. There’re total of thirteen retailers that the consumers can select from. You can sign up for the economics tuition with reputable economics tutor and understand a little more about benefits of the open electricity market. The good economics tutor can apply the economics concepts for solving the real life problems just like this.

Make A Right Switch

There’re two kinds of the standard price plans, the Fixed Price and Discount Off Regulated Tariff Plans. The Fixed Price provides consumers certainty over the electricity bills in spite of fluctuations in the regulated tariff during a contract period. Discount Off Regulated Tariff Plans provide the fixed discount off regulated tariff. You can discuss with the economics tutor in the economics the advantages or disadvantages of both the plans if you want to know more.