Singapore households are not required to switch away from SP Group’s regulated electricity tariff. The Open Electricity Market (OEM) allows consumers to buy electricity from an authorised retailer on a chosen plan, remain with SP Group at the quarterly reviewed regulated tariff, or use another permitted arrangement through SP Group. Switching your billing retailer does not change the national electricity grid or require a new supply wire to your home. EMA’s Open Electricity Market guidance explains that there is no deadline to switch.
Fixed Price and Discount-Off-the-Regulated-Tariff are different contracts. A fixed-price plan normally charges a stated electricity rate throughout the contract term, regardless of movements in the regulated tariff. A discount-off plan gives a fixed percentage discount on the regulated tariff, but because SP’s tariff is revised quarterly, the actual rate you pay will move too. A discount-off plan is not necessarily lower than a fixed-price plan in every future quarter. Read EMA’s consumer advisory and the retailer’s full Fact Sheet.
Quick steps: Check your average household kWh usage, identify your current retailer and contract end date, compare live offers through OEM’s price plan guidance, read whether the rate includes GST and any fees, examine automatic renewal and early termination, then switch through the chosen authorised retailer. If your retailer exits the market, SP Group continues delivering electricity; households move to suitable default supply or an agreed replacement arrangement. The retail contract, physical network and meter are distinct.
SP regulated tariff, fixed-rate plan, discount plan and wholesale price
One electricity connection can be billed under several pricing models. The words fixed and discounted describe how the rate is formed, not guaranteed savings compared with all other options.
| Option | How the rate works | Main decision |
|---|---|---|
| SP Group regulated tariff | Reviewed quarterly and approved by EMA | No retailer-switching deadline; no need to sign a new retailer contract |
| Fixed Price Plan | Constant agreed electricity rate through term under standard plan | May be higher or lower than future regulated tariff |
| Discount Off Regulated Tariff Plan | Fixed percentage discount off changing quarterly regulated tariff | Savings relative to regulated tariff, not necessarily to fixed rivals |
| Non-standard retail plan | Custom price structures, charges or bundles | Read all terms, variable components and fees |
| Wholesale electricity purchase via SP | Prices reflecting half-hourly wholesale market | Can be significantly more volatile |
| Retailer exit default supply | Household can return to SP regulated tariff if transfer not arranged | Physical power supply continues without interruption |
67 Open Electricity Market and household price vocabulary terms
Use these words to read a retailer Fact Sheet, compare a price plan and recognise the difference between an electricity charge and a grid service.
| Term | Meaning | Practical consequence |
|---|---|---|
| EMA | Energy Market Authority | Regulates Singapore electricity market |
| OEM | Open Electricity Market | Allows retail electricity choice |
| SP Group | Operator providing grid and utility services | Physical network persists after retailer switch |
| Regulated tariff | Price reviewed quarterly under EMA oversight | Compare live tariff against contract |
| Electricity retailer | Company selling electricity under contract | Check licence and current price plan |
| National power grid | Wires and network delivering electricity | Not replaced when changing retailer |
| Grid operator | Organisation maintaining network | Separate from retail price contract |
| Retail contract | Agreement for buying electricity | Read price, term, renewal and termination |
| Fact Sheet | Summary of a retail price plan’s key terms | Review before signing |
| Consumer Advisory | Required disclosure on signing up for OEM retailer | Acknowledge after reading |
| Standard Price Plan | Defined plan type meeting standard conditions | Usually fixed/discount with 6, 12 or 24 months |
| Fixed Price | Agreed constant electricity rate during contract | Not guaranteed cheapest against future tariff |
| Discount Off Regulated Tariff | Contractual percentage below quarterly SP tariff | Rate changes when regulated tariff changes |
| Percentage discount | Reduction relative to reference price | Find the reference tariff first |
| Price per kWh | Amount paid for each energy unit | Important to calculate expected bill |
| kWh | Kilowatt-hour of electricity energy | Read monthly meter consumption |
| kW | Kilowatt of instantaneous power | Different from kWh |
| Tariff revision | Scheduled change in regulated rate | Normally every quarter |
| Quarter | Three-month period | Four tariff reviews per year |
| Contract tenor | Length of electricity agreement | Check 6, 12 or 24 month offerings |
| Contract expiry | Date agreed term finishes | Review renewal notice ahead of time |
| Automatic renewal | Contract continues under new terms without separate action when conditions met | Check required notices and safeguards |
| Renewal rate | Electricity rate for the renewed agreement | Read actual new price and duration |
| Early termination fee | Charge for ending contract prematurely | May apply if consumer initiates switch |
| Security deposit | Money held under retail contract | Check amount and refund procedure |
| Final electricity bill | Closing amount after switch or termination | Reconcile meter and dates |
| Refund | Return of eligible deposit balance | Can be net of outstanding charges |
| Billing arrangement | Who sends and collects electricity charges | May be SP Group or chosen retailer |
| Consolidated utility bill | One bill with multiple utilities through SP | Check which retailer arrangement uses it |
| Direct retail billing | Retailer sends electricity portion separately | May affect payment process |
| Meter reading | Recorded energy consumption at a time | Used for switch and bill calculations |
| Final meter reading | Reading at transition between retailers | May be estimated if absent |
| Estimated reading | Imputed consumption where actual reading unavailable | Check later reconciliation |
| Smart meter | Meter reporting usage in smaller intervals | Not required simply to change retailer in normal household case |
| Half-hourly pricing | Wholesale charges varying every 30 minutes | More volatile than ordinary standard plan |
| Wholesale Electricity Price | Market price per interval | Can rise or fall sharply |
| Volatility | How much a price changes | Important when considering wholesale pricing |
| Bundled plan | Electricity offer combined with other services/products | Review all service terms |
| Non-standard plan | Offer with custom price mechanism | Could include recurring fees |
| Recurring charge | Regular charge beyond energy amount | Check fact sheet |
| Activation date | Day new retail price agreement takes effect | Usually coordinated with SP |
| Switching | Changing retail supplier | Grid supply remains the same |
| Switching request | Retailer’s instruction to SP to change account | Do not assume form submission equals completed switch |
| Five-business-day lead time | Possible earliest retailer start from retailer notifying SP | Not a guaranteed speed of switch |
| Business day | Official workday under process | Different from calendar day |
| Electricity account | Account recording energy bills | May have its own payment reference |
| Price comparison tool | OEM service comparing available standard plans | Use live current offers |
| Retailer satisfaction rating | Feedback metric from EMA surveys | Not a promise about future service |
| Retailer licence | Authorisation under regulatory framework | Check recognised retailer |
| Retailer exit | A retailer stops operating in OEM | Default supply protections apply |
| Replacement retailer | Different retailer accepting transferred customers | Check proposed terms and right to reject |
| Default supply | Regulated arrangement after exit for households | SP Group continues delivery |
| U-Save | Government electricity/utilities rebate for eligible households | Still usable after retailer switch |
| GST | Goods and Services Tax | Check whether quoted electricity rate includes it |
| Regulatory safeguard | Rule protecting OEM consumers | Read required disclosures |
| CASE | Consumers Association of Singapore | Can assist with eligible retailer disputes |
| Service complaint | Report about billing or contract issue | Contact retailer then appropriate channel |
| Supply disruption | Physical interruption of electricity service | Changing retailer does not cause outage |
| Power outage | Loss of electricity in building/area | Contact relevant grid/service channels |
| Fixed discount | Percentage that stays constant against regulated tariff | Not same as fixed number of cents |
| Effective rate | Actual cost per unit after applicable charges | Compare like-for-like including fees |
| Bill reconciliation | Checking amount against reading and tariff | Preserve contract and meter details |
| Consumption pattern | Household kWh use through time | Compare expected total costs |
| Price plan comparison | Review of cost under same assumptions | Avoid looking at percentage alone |
| Price certainty | Predictable unit rate under fixed plan | Usage still changes total bill |
| Contractual liability | Obligations created by agreement | Check before terminating early |
| Exit protection | Consumer protections on retailer exit | No power interruption and default supply route |
Why you do not have to leave SP Group
EMA’s Open Electricity Market framework gives households choice; it does not force every flat to sign with a retailer. A person who prefers the regulated tariff may continue buying electricity from SP Group. The tariff is reviewed quarterly based on relevant power-generation and delivery costs and approved by EMA. The number can increase or decrease over time.
This default is distinct from a retailer’s price plan. A regulated tariff does not mean that household electricity is free or that every bill remains identical. Amount used, U-Save credits, other utility charges and applicable tax still affect what the household pays.
When someone at a booth claims the law requires a switch before a deadline, check EMA’s actual consumer advice. EMA explicitly says switching is optional and there is no deadline.
How a fixed-price electricity plan works
A standard fixed-price plan sets a constant rate per kWh for the agreed term, typically six, twelve or twenty-four months under EMA’s standard arrangement. This gives predictability of the rate, but not of the total bill: if household consumption increases, the bill can still increase.
Suppose a purely fictional plan fixes electricity at 29 cents per kWh. A 400 kWh month would have energy charges of S$116 before whatever other relevant items the example excludes. If the regulated tariff later falls to 25 cents, the fixed plan’s rate would be higher; if it rises to 34 cents, the fixed plan’s rate would be lower. These are invented numbers, not current offers.
Check the exact contract for GST inclusion, start date, termination charges and whether a renewal can change the rate when the original term ends. A fixed rate is not a perpetual promise after expiry.
A discount-off plan still has a moving rate
A discount-off-regulated-tariff plan gives a fixed percentage reduction from SP’s applicable tariff. For example, if a fictional regulated tariff were 30 cents per kWh and the contract discounted it by 10%, the plan would charge 27 cents per kWh on that basis. If the tariff later changed to 34 cents, the same 10% discount would give 30.6 cents. The percentage stayed fixed while the actual rate moved.
Compare the effective rate of a discount plan with a fixed-price offer under the same current tariff and expected energy usage. Do not compare ‘10%’ directly with ’29 cents’ as if they use the same unit. They describe a relative change and an absolute price, respectively.
Before signing, check whether the plan is one of EMA’s standard discount plans or a non-standard offer with extra charges. The fact sheet should explain the exact pricing formula.
Why non-standard plans need closer reading
EMA’s OEM guidance recognises non-standard plans with custom price structures, recurring charges, add-ons and non-fixed price mechanisms. A non-standard offer may be appropriate for certain needs, but a headline discount or rebate does not establish the full cost. Review the actual contract, including bundled services and whether their terms survive a switch.
Use the official comparison tool for standard plans. For a non-standard offer, calculate the expected bill using the retailer’s total pricing method and the household’s real consumption. Ask the retailer to provide a written explanation of any rate adjustment, recurring fee, deposit and termination amount.
Do not transfer money to someone claiming to guarantee a future discount. Verify the electricity retailer and its official sign-up channel.
Switching retailers does not replace household wires
SP Group continues operating the national grid regardless of which retailer bills the electricity. A household normally does not need to change physical wiring merely because it selects a different authorised retailer. The switching process is managed by the chosen retailer in coordination with SP Group.
The retailer may request a final meter reading; if an actual reading is not supplied, SP may use an estimated value under the process. Keep an eye on dates when one contract ends and another starts to avoid attributing the same usage period to the wrong bill.
EMA says a new contract can start as early as five business days after the retailer submits the transfer request to SP, but that is a possible earliest start, not a guarantee for every application. Do not assume the switch has completed just because a salesperson has collected the form.
Why automatic renewal matters
Some retailer contracts renew automatically. EMA’s consumer safeguards require that an automatically renewed electricity rate be lower than the prevailing regulated tariff at the point of renewal. That is an important protection but not a guarantee that the plan stays cheaper than SP for every future quarter.
Read any renewal notice and the length of the next contract. A household that ignores automatic renewal may discover new obligations when it later decides to switch again. Keep copies of the original agreement and renewed rate, including when the new pricing begins.
If you do not understand the terms, ask the retailer to explain them before accepting. A signed agreement is not a simple expression of interest without obligations.
Early termination is different from retailer exit
If a consumer chooses to end a binding retail contract early, a contractual early termination charge may be payable. The precise amount depends on the actual plan. Moving house, changing a family budget or finding a cheaper rate does not automatically waive a signed obligation.
When a retailer exits the market, however, the consumer has specific protections. EMA and the OEM site explain that the exiting retailer seeks a replacement on the same terms, or the household moves to SP Group’s regulated tariff if a replacement is not arranged or accepted. There should be no physical supply interruption. The customer is not required to pay an early termination fee caused by the retailer’s exit.
Security deposits are handled under the final bill and refund process. OEM’s retailer-exit guidance states eligible household deposit balances are refunded after settlement, with a stated one-month outer period from final bill settlement. Keep the final bill and follow up through the official retailer or CASE if necessary.
How U-Save works after a retailer switch
SP Group and the OEM guidance explain that eligible U-Save utilities rebates remain available regardless of whether a household buys electricity at the regulated tariff or through a participating retailer. A change in retail supplier does not automatically remove entitlement to the government support.
U-Save is not a discount to the per-kWh price. It is a rebate credited under the government programme, and application to the bill depends on billing arrangements. Compare energy prices separately from rebates so a household does not mistakenly attribute a subsidy to a particular retailer.
Check the actual electricity statement and related utilities bill to understand where the credit appears. If it is absent, contact the appropriate official utility or support channel rather than assuming the retailer stole the rebate.
Reading a retailer’s Fact Sheet
Before signing, write down the plan name, retailer, all-in rate, GST treatment, contract length, start date, early termination conditions, deposit, renewal process and bundled obligations. Compare those terms with the household’s monthly kWh use. One price comparison is meaningful only when the underlying consumption and contract conditions are comparable.
A retail agent’s verbal claim does not replace the signed Fact Sheet and Consumer Advisory. Keep the final digital contract and price details. If the offer mentions ‘guaranteed savings’, ask relative to which reference rate and for which months. A fixed price may look favourable today but become less attractive when the regulated tariff falls.
Use EMA’s public retailer information and the official OEM comparison tool; the best choice depends on individual preferences about certainty, fluctuations and switching costs.
What to do with an unexplained electricity bill
Begin with the billing period, the meter readings or estimate, electricity quantity in kWh and applicable rate. Separate energy charges from GST, deposits, fees, water bills and government rebates. If the retailer has a special formula, request the relevant rate schedule in writing. Keep any reported meter or billing error reference.
Contact the retailer using verified customer-service channels first. EMA’s consumer safeguard guidance points residential consumers with unresolved issues to CASE. An electricity-supply outage is a different matter involving grid or service response, not necessarily the retailer’s price contract.
The vocabulary is useful because it separates a billing complaint, a rate disagreement, a physical outage and a contract-renewal concern. Each has a different cause and appropriate destination for assistance.
Frequently asked questions
Is switching to an electricity retailer mandatory in Singapore?
No. EMA says switching is optional; households may continue with SP Group at the regulated tariff and there is no deadline to switch.
Does changing retailer cause a power outage?
No. SP Group continues operating the national grid regardless of the chosen retail supplier.
What is a fixed-price electricity plan?
A plan with a constant per-kWh rate for the contract’s duration, subject to the actual plan terms.
What is discount-off-regulated-tariff?
A fixed percentage discount from the prevailing regulated tariff, which is reviewed quarterly and can move.
Is a 10% discount always cheaper than a fixed price?
No. Compare the actual cents-per-kWh amount and fees under the same tariff assumptions.
How often does the regulated tariff change?
It is normally reviewed every quarter and approved by EMA.
Can a non-standard plan have recurring fees?
Yes. EMA says non-standard offers may use extra charges and custom pricing structures.
Do I need a new electricity meter just to switch retailer?
A normal household retail switch does not change the physical grid. Meter and billing arrangements are handled under the specific process.
Can I pay a fee for leaving a retail contract early?
Potentially, if you choose to terminate before its term; read the agreed early termination clause.
Will my power stop if the retailer exits the market?
No. EMA describes a default-supply route with uninterrupted grid supply.
Does U-Save disappear when I switch retailer?
No. OEM and SP guidance say eligible U-Save rebates remain usable regardless of retailer.
What should I read before signing?
The retailer’s Fact Sheet, Consumer Advisory, complete terms and the actual price comparison.
Related eduKateSG guides
- SP Utilities Bills, Electricity Tariffs and U-Save
- NEA Energy Labels, Appliance Ticks and kWh
- PUB Water Meters and WELS Labels
- Small Claims Tribunals, CJTS and Consumer Refunds
- Vocabulary Articles and Knowledge Hub
Official EMA, OEM and SP Group sources
- EMA: What Is the Open Electricity Market? — voluntary switching and two standard plans
- OEM: Consumer Advisory — required information before signing
- EMA: Buying from a Retailer — standard versus non-standard plans
- OEM: How to Switch — meter reading, fact sheets and switching timelines
- OEM: Consumer Safeguards — retailer exit and auto renewal
- OEM: Retailer Exit — security deposits and default supply
- SP Group: Open Electricity Market — SP role and physical supply
Editorial verification: 4 November 2026. This vocabulary guide is not a recommendation for any specific retailer or price plan. Actual rates change; numerical prices in examples are invented for explanation. Check live offers, the full contract and EMA’s current guidance before switching.