OEM, or Open Electricity Market, gives households and corporate entities in Singapore the liberty to purchase electricity from a retailer of their choice. This provides consumers with more options and increased flexibility in picking a price plan that best suits their electricity needs.
Since April 2018, residents of Jurong can purchase electricity plans from private retailers, or continue receiving electricity from SP Group. From 1 November 2018, OEM will launch in areas with postal codes starting with 58 to 78. Thereafter it will be extended to all households across Singapore by zones progressively. About 1.4 million household and business accounts will have the option of buying electricity from a retailer at a price plan that best meets their needs. OEM gives consumers more choice and flexibility when buying electricity, while being provided with the same electricity supply through the national power grid.
|Zone||Postal Codes Starting With||To be launched from|
|1||58 to 78||1st November 2018|
|2||53 to 57, 79 to 80 and 82 to 83||1st January 2019|
|3||34 to 52 and 81||1st March 2019|
|4||01 to 33||1st May 2019|
An open electricity market means that you, as a consumer, get more power plan options when it comes to buying electricity. A bigger market will also lead to greater competition, which, in turn, brings about better electricity prices and more attractive plans for homes and businesses.
In short, you’ll get better choices and bigger savings.
Here’s a handy guide to some common electricity terms.