In a span of one week, ISwitch (13 Oct 2021), Ohm (15 Oct 2021) and Best Electricity (19 Oct 2021) has publicly announced they will be exiting the Singapore’s Power Market. Union Power (18 Oct 2021) ceased 850 retail accounts but emphasized it is not exiting the market.
Why Singapore’s Power Providers are leaving
All of them have assured there will no disruption to the power supply. The affected accounts will be transferred back to SP Group.
In my Wealthdojo’s Telegram group where I share one financial tip a day for readers, I shared about the raising oil prices in the recent months and raised the concern that inflation might creep in. I have been monitoring oil prices over the years and I was concerned about the spike in prices recently. Never would I have guessed that this would directly impact the energy scene in Singapore....