What are the Benefits of Open Electricity Market for Singaporeans?

With the launch of Open Electricity Market (OEM) in Singapore in the year 2018, the electricity market saw a revolution of sorts. It has benefited the consumers the most. With an open electricity market the consumers have liberty to switch to another supplier who offers them suitable deal.

Now, Singaporeans can compare electricity retailers and make a conscious decision of opting a retailer purely on the basis of their needs and budget. They can now save themselves from paying huge electricity bills every month.

Here’s a look at how OEM benefits consumers:

1. More information

With the launch of OEM, the Singaporeans have become more aware of the electricity market in Singapore and they have become acquainted with how they can switch a retailer and choose from as many as 13 electricity providers in Singapore. They will learn to keep a track of their consumption patterns such as how much electricity they consume, when is the consumption at peak, what are the areas of wastage and choose a plan accordingly to save money and preserve natural resources.

2. Informed choices

Earlier, the Singaporeans were paying a fixed charge quarterly for their energy consumption. However, now they have the freedom to choose from 3 types of electricity plans offered by the retailers in Singapore. This enables the consumers to make an informed choice as they can compare electricity retailers and the offers and tariff provided by them. Now, they have the liberty to choose their energy supplier that offers a plan which suits their consumption habits.

3. Better services

The open market will keep the electricity supplier on toes for offering the best of services as there is an increase in the competition. They will innovate and try to come up with better deals and improved services to win trust of existing customers as well as gain new customers. Apart from price, the retailers will also offer value-added services and the consumers will get to enjoy the perks.

Explore the web for more information and suggestions on finding the best electricity provider Singapore for your needs.

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