Frequently Asked Questions
 

General

1. What is PowerSelect?
PowerSelect is a convenient, one-stop portal that helps businesses purchase electricity.  It is the most comprehensive electricity procurement website in Singapore to date – it offers different procurement options (live auctions and tenders), is supported by a good number and mix of electricity retailers in Singapore, and houses near real-time electricity price data to help consumers in planning and decision-making.
 

2.Who is behind PowerSelect?
PowerSelect is developed by Energy Market Company (EMC), a wholly-owned subsidiary of Singapore Exchange (SGX). EMC is licensed by the Energy Market Authority to operate Singapore’s wholesale electricity market.

EMC is an established name in the power sector with an excellent track record. We have been the exclusive exchange for wholesale electricity trading in Singapore since 2003, providing a reliable platform for the buying and selling of electricity between generators and retailers. Not only do we understand the power business, we have strong relationships with industry players. We have channeled our knowledge, experience and relationships built over the years into the development of PowerSelect. 
 

3. Who can use PowerSelect to buy electricity?
Currently, PowerSelect serves business consumers with an average monthly consumption of more than 10,000 kWh (equivalent to a monthly electricity bill of approximately $2,000).  

We will be reviewing our business model over time, and do not rule out the possibility of extending PowerSelect to smaller electricity consumers in future, including residential consumers.
 

4. I operate a small business from home. Am I considered a business consumer and can I purchase my electricity package through PowerSelect?
To check if you are able to use PowerSelect for your electricity purchase, look at the account type at the top of your current monthly electricity bill from Singapore Power (SP) Services. If your account is categorised as ‘Non-Domestic’, you may purchase electricity through PowerSelect.
 

5. How can I use PowerSelect to buy electricity?
You have a choice of two procurement options on PowerSelect – Live Auction or Invitation to Tender.

Live Auction – Suitable for businesses who prefer a Fixed Price Plan or a Discount Off Tariff Plan. From a starting electricity price (your reserve price), electricity retailers bid and counter-bid to win your business in just 15 minutes, resulting in lower prices for the consumers.

Invitation to Tender – This channel is suitable for businesses with special requirements e.g. businesses that wish to buy ‘green electricity’ or prefer a plan that is indexed to fuel oil price. Electricity retailers will submit customised proposals based on your requirements, and you can choose the one that best meets your needs.

 

6. Why should I buy through PowerSelect?
With more than 30 licensed electricity retailers in Singapore, each offering a variety of price plans and contractual terms, choosing a retailer and package that suits your needs can be a confusing and time consuming process. 

PowerSelect helps you secure the best electricity deal efficiently, saving you both time and money. Our unique Live Auction procurement method helps you get the best electricity price in as little as 15 minutes. Moreover, you can choose to use PowerSelect’s standardised Electricity Retail Agreement* to reduce the time and effort that would otherwise be spent reviewing various retailers’ agreements.

*Currently available only for consumers whose supply intake is at 400/230 volts (also known as Low Tension consumers).

 

7. Are there any charges to use PowerSelect to purchase electricity or to access the data available on the portal?
Use of PowerSelect is free* for business consumers once you have registered and created an account.

 

*There will be an administrative charge, however, if a business consumer backs out and does not enter into a contract to complete the purchase of electricity with the winning electricity retailer after an auction or tender has concluded.

PowerSelect Live Auction and Invitation to Tender

1. How do I create a live auction?

Here are the steps to call for a live auction:

• First, register an account and provide details of your organisation.
• Once your account has been activated, you can submit a request to launch an auction. As part of this process, you will be required to:
  -   Select (whitelist) your preferred electricity retailers to be invited for pre-qualification;
  -   Define your contract parameters/specifications such as the type of price plan, your reserve (starting) price, contract duration and payment preferences and provide your consumption details;
• We will set a suitable date and time slot of a 15-minute duration for your auction.
• The electricity retailers that you have whitelisted will assess the auction specifications and come back with proposed contract deviations, if any.
• Following that, you can do a final shortlist of the electricity retailers based on whether you accept their proposed contract deviations, if any.
• The auction will then be conducted at the allocated time slot with the electricity retailers that you have shortlisted in the final round.

 

You may request for a demo session

2. Do I have to review all the contracts of the various electricity retailers?

We understand that reviewing the terms and conditions of multiple retailers can be tedious. To simplify the process, we have developed a standardised Electricity Retail Agreement* specially for our customers. You can choose to use this Agreement if you prefer.
*Currently available only for Low Tension consumers.

3. Is the result of the auction binding?
Yes. Once an auction or invitation to tender (ITT) has concluded, both the winning electricity retailer and the consumer are deemed to have accepted all terms and conditions of the auction/ITT, and should proceed to complete the purchase through a contract signed by both parties.

4. Are there any charges for launching an auction through PowerSelect?
Use of PowerSelect to purchase electricity is free* for business consumers.

*There will be an administrative charge, however, if a business consumer backs out and does not enter into a contract to complete the purchase of electricity with the winning electricity retailer after an auction or tender has concluded.

5. How many electricity retailers are needed to start an auction?
You may invite as many retailers as you wish.  For the auction to take place, a minimum of two (2) electricity retailers need to be shortlisted.

6. What documents are required after I have secured my electricity plan through PowerSelect?
You will need to submit the following documents to the winning retailer after securing your electricity plan through the auction/ITT:
1. Signed copy of Electricity Retail Agreement;
2. Security Deposit payable to the winning electricity retailer (by way of a cheque or Bankers' Guarantee in accordance with the contractual agreement);

For accounts applying for contestability, the following documents must be submitted to SP Services through the winning retailer :
3. Completed and signed copy of the SP Contestability Application Form and latest 3 months’ bills (if not submitted prior to auction/tender);

4. Copy of recent business/company registration certificate;

5. Copy of NRIC of any Director listed in ACRA or Letter of Authorisation (LOA).

 

Eligibility and switching process for business consumers

1. How do I check if I am eligible to choose my electricity retailer?

Currently, businesses with an average monthly aggregated consumption of at least 2,000 kWh (equivalent to a monthly electricity bill of at least $400) are eligible to choose their electricity retailer (i.e. become contestable).

 

To check your contestability eligibility status using your SP Services account number, please visit www.openelectricitymarket.sg.

 

2. What is Open Electricity Market?

The Open Electricity Market (OEM) is an initiative by the Energy Market Authority (EMA) that allows consumers to enjoy more choice and flexibility when buying electricity.

 

For details and updates on the OEM, please visit www.openelectricitymarket.sg.

 

3. Is it compulsory to switch to an electricity retailer?

It is not compulsory for you to switch to a retailer. You can continue to buy electricity from SP Services at the regulated tariff. Consumers who decide not to switch are termed as non-contestable consumers.

 

4. Will my electricity supply be disrupted if I switch to purchase from an electricity retailer?

There will be no disruption to the physical supply of electricity to your premises when you switch to purchase from electricity retailers.  SP Group will continue to operate the national power grid to supply electricity to consumers.

 

5. Do I need to change my electricity meter?

Business consumers applying for contestability will need to install a smart meter or Advanced Metering Infrastructure (AMI) meter.

 

For the latest updated information, please visit www.openelectricitymarket.sg.

 

6. How long will it take to switch to an electricity retailer?

If you are currently purchasing from an electricity retailer, the switch will take at least 6 business days.

 

If you are currently purchasing from SP Services at wholesale market prices, the switch will take at least 2 business days.

If you are currently purchasing from SP Services at the regulated tariff, the switch will take about 4 to 6 weeks, including processing the contestability application.

 

For the latest updated information, please visit www.openelectricitymarket.sg.

 

7. Will I need to inform SP Services or my existing electricity retailer before or after I have used PowerSelect to procure electricity for my business?

No, you will not need to inform SP Services or your existing retailer.

 

Upon completion of the purchase through PowerSelect, the winning electricity retailer (if they are not your incumbent retailer) will perform the transfer of your account electronically. However, you will need to arrange for the refund of your security deposit if you have one with the existing electricity retailer.

 

For the latest updated information, please visit www.openelectricitymarket.sg.

 

Others

1. What do retailers’ price plans consist of, and are there other items that consumers will be billed for?

The price plans offered could be fully bundled (energy component¹ and non-energy components² inclusive) or unbundled (energy and non-energy components billed as separate line items).

 ¹The energy component is the cost of generation by the different power generation companies including the fuel cost. 
 ²The non-energy components (or third party charges) are the charges imposed by the relevant authorities such as grid (transmission) charges, market support service fees, power system operation and market administration fees.

 

2. What are “Transmission Loss Factors”?

When electricity is supplied to consumers, there is some loss of energy when it travels from the power plants (i.e. the source of generation) via the transmission cables to homes and businesses.

The amount of loss is dependent on the voltage level where consumers take in their electricity supply. In general, the lower the voltage, the more transmission losses are incurred when delivering electricity from where it is generated to where it is consumed.

 

3. Do I have to provide a security deposit to the electricity retailer and if so, how much?

Yes, similar to SP Services, you may be required to provide a security deposit to your electricity retailer. The amount is usually a multiplier (e.g. 1.5 to 2 times) of your monthly electricity bill.

 

4. If I switch from SP Services to an electricity retailer, what will happen to my security deposit?

The existing security deposit with SP Services will be split between your electricity and non-electricity accounts.

The security deposit for the electricity account will be used to offset any outstanding charges with SP Services.  Any remaining security deposit will be used to offset future non-electricity charges.

 

Alternatively, you may request SP Services to refund this amount.

 

5. What are the payment methods and terms available to me for my monthly electricity bill?

Different electricity retailers offer different payment methods, which may include Giro, cheque, bank transfer or other payment methods.  Likewise, different electricity retailers may offer different payment terms.

 

6. What is the contract duration?

The contract duration is typically 12 months or 24 months.  Other contract durations may be offered by electricity retailers depending on market conditions.

 

7. Will there be any fees imposed for early termination of contract?

In the event of an early termination of contract, there may be early termination fees imposed by the respective electricity retailers. Please refer to the contractual terms of the respective retailer for the early termination fees which apply.

 

8. Can I switch back to SP Services after the retail contract with the electricity retailer ends?

Yes, you can.

If you wish to switch back to SP Services after the retail contract ends, you will need to inform your electricity retailer at least 10 business days prior to the earlier of (a) the contract expiry date; or (b) the date (if any) specified in the contract by which the consumer must inform the retailer.

Please refer to your prevailing contractual terms on the notice period required.