SINGAPORE - Four in 10 Singapore households have switched to an electricity retailer since the launch of the Open Electricity Market in April last year, said the Energy Market Authority on Tuesday .
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. Housewife Evangeline Lim, 57, who switched to Sembcorp Power earlier this year, said her electricity bill is about 25 per cent lower than before.
"The transaction was smooth. So far, I've no complaints. Plus, the cost is so much lower now," she said. 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 2018 and May 2019.The liberalisation of the market has meant that households here have more choices when it comes to energy suppliers. There are now 12 such retailers including Geneco, iSwitch, and Keppel Electric.
Mr Loy said: “Consumers are also advised against revealing their personal information such as NRIC number and Singapore Power account details if they have no intention of switching to an electricity retailer.”
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