What Is The OEM

Open Electricity Market: Your Ultimate Comparison Guide To The Cheapest Electricity Retailers In Singapore (Keppel Electric vs SP group and more!)

The electricity tariff is currently 21.43 cents/ kWh in Singapore from October to December 2020. The tariff is up from 19.60 cents for the last quarter. If you also add the 7% GST, you’ll have to fork 22.93 cents for each kilowatt per hour you consume. So, if you live in a three-room HDB flat or a studio apartment in Singapore, with an average consumption of 237 kWh/ month, you can expect your bill to go up by about $4.5. That may not seem like much. But the Open Electricity Market must have made some excellent adjustments to their prices and discounts compared to the last quarter. So, if you want a cheaper electricity bill, read this article. You’ll find out all about OEM and how it compares to the traditional electricity market. You’ll also get all the juicy details about the twelve Singaporean retailers that battle in low prices and discounts to get you to join them. What are you waiting for? Go to the light side; they have Electricity. And Lending Bee will show you how their prices compare so that you can choose the most affordable offer.   What Is The Open Electricity Market (OEM) About? The Open Electricity Market (OEM) is similar to the open telecommunications market. Instead of having one electricity provider, you can choose from twelve different retailers in Singapore. The OEM launched its initial phase on April 1st, 2018. At that point, over 100,000 households in Jurong chose their favourite electricity company and their plan. The other phases started to roll out since November 1st, 2018, when other people in Singapore had the same option. Of course, you can stick to your old plan from the SP Group. Before making your choice, here are the goodies on OEM:   Benefits Of Switching To OEM When you compare the OEM with the typical electricity system, you can’t help but notice these benefits: Wider Array Of Options SP Group, the unique energy provider, establishes fixed tariffs every quarter. By contrast, the other retailers in Singapore feature two different electricity plans. Therefore, you can decide: How

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