Open Electricity Market or OEM in short, gives households and businesses in Singapore the freedom 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. 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.
The nationwide launch of OEM will be rolled out in four phases.
|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|
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We’ll take care of everything else from here on out. And don’t worry – switching won’t cause any disruption to your electricity supply.
With over 48 years of experience in the energy business, you could say that we know a thing or two about power. Because we don’t just sell it, we also generate approximately 25% of the electricity in Singapore. So you can trust us to keep your homes and businesses running.
Not at all. SP Group will continue to operate the national power grid and deliver electricity to everyone, so buying electricity from a retailer will not affect your power supply in any way.
If you are eligible for U-Save rebates, you can still use them to offset your electricity bill with Geneco.
It is not compulsory for you to switch to any retailer. You can continue to buy electricity from SP at the regulated tariff and make the switch to Geneco at a later date. There is no deadline to switch. But why wait to enjoy big savings?
Here are some eco-friendly ways to enjoy even bigger power savings.
Head over to our FAQ Section.
Here's a handy guide to some common electricity terms.
kWh stands for kilowatt per hour, which is basically a measurement of how much energy you're consuming.
SP Grid is short for Singapore Power Grid, which is the system of interconnected power lines that transport electricity from generators to consumers.
MSSL stands for Market Support Services License, which in Singapore's case is SP Services Ltd. They provide services such as the settlement of bills, meter reading, data management, and customer transfer services.
Advanced Metering Infrastructure (AMI) meters allow electricity consumption to be measured at half-hourly intervals, resulting more accurate readings.
Transmission Loss Factor (TLF) accounts for the energy that's lost as electricity passes through the system to get to your house. Normally TLF charges are passed through to the customer. However, at Geneco, we bear the charges, so that you don't have to.