SINGAPORE ENERGY DEREGULATION

Deregulation is proceeding in the New Electricity Market of Singapore (NEMS). By the second half of 2018, everyone who consumes electricity in Singapore will be free to shop around for the best deals in the electricty market when the Energy Market Authority (EMA) plans to fully open up the electricity retail market to competition. This was announced by Mr S. Iswaran, Minister for Trade and Industry (Industry) at the opening of the Singapore International Energy Week. This means consumers will have the choice to buy electricity from electricity retailers under customised price plans, similar to the way customers choose mobile-phone plans from telcos. This will allow these customers to get the best deal based on their usage patterns.