Singapore's Open Electricity Market

Make A Change, Choose A Retailer & Start To Save!

What Is The Open
Electricity Market?

The Open Electricity Market (OEM) empowers you to purchase electricity from a retailer of your choice for both your household and business needs.

This means you no longer have to buy your electricity from SP Power and be charged the regulated tariff. You now have the flexibility to choose a price plan that best suits your household budget and lifestyle!

Enjoy Exciting Savings & Benefits With The OEM

What’s in store for you when you switch?

Significant Savings On Your Electric Bill

Lock in generous savings on your electric bill every single month from more competitive electricity rates and price plans.

Flexibility To Choose A Plan Tailored To Your Lifestyle

Have a fixed budget or a shorter supply duration? Now you have the power to choose the price plan that best suits your household.

Zero-Interruption To Your Electricity Supply

Worried about a disruption when you switch? Don’t be! You will still enjoy the same electricity supply without any interruption.

How To Switch To An Electricity Retailer

Switching is as easy as 1-2-3!

STEP 1

Browse Through Our Price Plans & Select

Choose a price plan & contract duration that suits your needs.

STEP 2

Fill In Your Particulars & Household Details

Sign-up online in less than 5 minutes. It’s that quick!

STEP 3

We’ll Handle The Rest!

Our team at iSwitch will take care of your transfer.

iSwitch: The Preferred Electricity Retailer

As one of Singapore’s top licensed electricity retailers, we have been helping customers save on their electricity costs since 2017.

We have helped 100,000 Households and counting save over $120 Million on their electric bills. Let us help you save more every month!

 

When you switch to iSwitch, enjoy:

• Up to 30% savings off your monthly electricity bill
• Exciting lifestyle perks, rebates & sign-up bonuses
• 100% green electricity at no additional cost

Go Green As You Switch & Save

All of our price plans are green-certified, providing carbon-neutral electricity to you at zero additional cost.

Together with our customers, we have helped save over 145,000 tonnes of CO2 equivalent of carbon emissions. That’s equal to 725,000 trees planted!

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Learn More About The OEM & Its Roll Out

Dive deeper into the history of the OEM, its roll out & why it matters

1. When & why did the OEM come about?

The OEM is an initiative by the Energy Market Authority (EMA) with a focus on providing consumers with more choices and flexibility when with their electricity purchases.

This is done to spur innovation and introduce competition in Singapore’s power industry, helping to encourage more competitive pricing and plans with the consumer in mind.
As of May 2021, over 49% of households* in Singapore have made the switch.

source

2. When did the OEM roll out?

The OEM’s official roll out started from 1st November 2018 across 4 zones throughout Singapore with the final zone being launched on 1st May 2019

You can learn more about the launch here.

3. Is it compulsory to make the switch?

While it isn’t compulsory to make the switch to any retailer and continue buying your electricity from SP Power, you will be paying the full regulated tariff.

By switching to a retailer such as iSwitch, you can enjoy savings on your electric bill and other perks and benefits.

Have Questions About Switching?

Learn more about switching to a retailer with our FAQ here.

Q1. Is there a deadline to switch?

No. There is no deadline to switch and it is also not compulsory to switch. You have the choice to switch to a retailer or continue buying your electricity from SP Power.

Q2. How do I switch to iSwitch and enjoy monthly savings off my electric bill?

If you are currently buying electricity from SP Power, you can simply head to our page here, select the price plan that best suits you and fill in the online form with your details. All you need is your NRIC and SP Account number!

If you haven’t set up your SP utilities account yet, you’ll need to set it up in order to switch to any retailer. Here’s a guide to walk you through the process.

If you are in a contract with another retailer, you can sign up 90 days before your contract end date. Just remember to select your preferred contract start date.

Q3. Will there be any interruptions, delays, or disruptions to my electricity supply if I switch?

No. You will still enjoy the same quality electricity supply that you are experiencing today.

Q4. Which price plans are there and which should I choose?

There are two price plans that you should be aware of and selecting the right one will depend on your household needs.

The fixed price plan allows you to lock in a fixed rate for the duration of your contract and suitable if you desire to have a predictable electric bill.

The discount-off-tariff plan allows you to enjoy guaranteed savings off the regulated tariff.

Q5. Is buying electricity wholesale from SP Power a better choice?

When you buy electricity wholesale, you are paying for electricity at prices that vary every half-hour. This is done through SP Group.

While you can choose to buy your electricity from the wholesale electricity market, it is potentially a riskier option as you will be exposed to price uncertainties due to fluctuations in the market supply and demand.

The fixed price plan or discount-off-tariff plan are better options to enjoy savings while ensuring price stability.

Q6. What happens to my U-Save rebates when I switch to a retailer?

You will still be able to offset your electricity bill with your U-Save rebates when you switch to a retailer.

Learn more about the U-Save rebates here and check your eligibility here.

Q7. How much can I expect to save on my electric bill if I make the switch?

The amount you save will depend on your unique household electricity usage.

You can estimate your savings here with our price savings calculator.

Switch & Save Today!

Save up to 30% off your monthly electricity bill with iSwitch