Personal Finance
Why Are Electricity Retailers in Singapore Closing Down? What Does it Mean for Singaporeans?
By Seedly  •  October 21, 2021
In October 2017, the Electricity Market Authority (EMA) first announced the Open Electricity Market (OEM) initiative in a bid to liberalise and encourage innovation in the power industry. In May 2019, all households in Singapore are given the option to switch from the Singapore Power (SP) Group to their preferred electricity provider. Since then, Singaporeans were able to enjoy savings from their electricity bills, as 12 electricity retailers engaged in price wars to obtain market shares. Who is the Cheapest Electricity Retailer? Having been following the electricity retailers market since May 2019, Seedly constantly look to keep consumers up to date with the latest price changes and happenings in the electricity retailers market. Electricity Retailers in Singapore Are Exiting the Market Since 14 October 2021, we are starting to see electricity providers exiting the market. Several energy providers have also stopped accepting new clients. Here’s a quick summary of events with regards to Singapore’s Open Electricity Market (OEM):...
Read the full article
By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance