Electricity Contracting Support for Large Business Consumers for month 2023 [CLOSED]
Update: Our Registration of Interest has closed. For other options, kindly visit EMA website. Thank you.
Introduction
- The Energy Market Authority (“EMA”) has received feedback that some large business consumers have experienced difficulties in securing fixed price electricity contracts in recent months due to unprecedented volatility in the global energy market as well as in the Singapore Wholesale Electricity Market.
- EMA has worked with Seraya Energy Pte Ltd to offer significant fixed price retail contracts to large business consumers who have difficulty in securing a retail contract for . While the fixed electricity price under the one-month retail contract reflects the prevailing high fuel prices, it will provide consumers with greater price certainty compared to the Wholesale Electricity Price (“WEP”).
- Large business consumers, with an Average Monthly Consumption of at least 4 MWh, are eligible to sign up for one-month fixed price retail contract for the month of .
- Towards the end of your contract, you can choose to re-contract with Seraya Energy Pte Ltd, switch to another retailer or switch back to buy electricity at the WEP.
- Following are the key terms of the Contract:
Electricity Retailer Seraya Energy Pte Ltd Type of Price Plan Fixed Price Plan# Contract Duration 2023 (or later) to 2023 Maximum Fixed Electricity Price (cents/kWh) cents/kWh Are the following third-party charges applicable and payable by the consumer in addition to the Fixed Electricity Price? Monthly Energy Uplift charges Yes Hourly Energy Uplift charges No Allocated Regulation Price Yes Energy Market Company fees Yes Power System Operator fees Yes Transmission Charges (Peak) Yes Transmission Charges (Offpeak) Yes Contracted Capacity Charges* Yes Uncontracted Capacity Charges* Yes Reactive Power Charges* Yes Meter Reading & Data Management Charges Yes Market Development & System Charges Yes Vesting Contract Debit/Credits No Additional Fees and Charges Security Deposits - 1 month of Estimated Monthly Bill Amount (inclusive of GST)
- Estimated Monthly Bill Amount is the Maximum Fixed Electricity Price multiplied by the declared monthly consumption.
- Security Deposit must be furnished no later than 3 business day before contract start date.
Early Termination Charges 50% x estimated monthly bill amount Late Payment Charge Interest on the amount outstanding at the rate of 7.25% per annum. Transmission Loss Factor Pass-Through Carbon Tax Charge $2.04/MWh Payment Terms 10 calendar days Other Terms and Conditions All other terms and conditions shall follow Seraya Energy’s general terms and conditions provided in our quotation to you upon receiving your email request. # For the nominated monthly consumption only
* Not applicable for consumers taking supply at low-tension (i.e. below 6.6 kV) level. - If you are interested to find out more about our Contract, please submit your request here.
- Please note that the deadline to sign up for our Contract is on 25 May 2022. We seek your understanding that there will be no deadline extension.
EMA’s Consumer Advisory
Please note that the fixed electricity price under the one-month retail contracts offered by the participating retailers for the Temporary Electricity Contracting Support scheme show the maximum fixed electricity price for the contract month. Consumers can engage participating retailers to negotiate pricing and non-pricing terms. Retailers usually request consumer to provide more information such as their historical electricity consumption profile to adjust the electricity price and other terms.
The participating retailers’ offers under the scheme are subject to availability and will be contracted on a first-come-first-served basis. It is not compulsory for consumers to sign-up for monthly fixed price contracts. Consumers can continue to engage retailers on alternative pricing arrangements that best suit your needs.
FREQUENTLY ASKED QUESTIONS
- Who are eligible for the retail contracts offered?
Large non-domestic consumers with an average electricity consumption of at least 4MWh per month, who have difficulty securing a retail contract for 2023 or who will be buying electricity from the Singapore Wholesale Electricity Market (“SWEM”) through SP Group or a retailer at the Wholesale Electricity Price (“WEP”) in June are eligible for these contracts. - Why is there only a one-month price plan for June 2023?
With monthly price plans, consumers can avoid being locked into long-term contracts, allowing them to consider other offers upon the expiry of the contracts. Consumers are encouraged to negotiate with the retailers on pricing and non-pricing terms, including longer contract duration. - When can I sign up for the one-month fixed price plan and when does it expires?
Consumer can request for a quotation from participating retailer from . Consumer must sign up before (“Deadline”). There will be no further extension of the Deadline. - When does the one-month fixed price contract starts and when does it expires?
The contract start date will be on or later and with the end-date no later than . Security Deposit has to be provided to the participating retailer before the contract can commenced. - What will happen when my contract expires by ?
If you have not entered into any retail contract with the participating retailer for , your account will be transferred back to SP Group on WEP when the contract expires on . - Is it compulsory for eligible consumers to sign up for these price plans?
It is not compulsory for eligible consumers to sign up for these price plans. They can continue to negotiate with retailers for alternatively arrangements that best suit their needs.
