Proposed Changes to Electricity Tariff & Retail Market in Singapore

February 9th, 2009 · No Comments

The Energy Market Authority (EMA) is currently exploring options to create more competition in Singapore’s electricity retail market. Apart from the existing Electricity Vending System (EVS) pilot project, EMA is also thinking of tendering out a part of the total domestic electricity demand for the generation companies to bid on. This will benefit households as it gives more leeway for these companies to price electricity more competitively.

Additionally, EMA is also proposing changes to the prevailing formula used to determine the electricity tariff in Singapore. Instead of using one month’s fuel oil price data, an average fuel oil price data over 3 months will be used to make it less erratic and more in line with current market situation.