Average Savings in Electricity Bills for Households That Switched to Open Electricity Market

Debated in Parliament on 2 Sep 2019.

Summary written by AI (learn more)

Households that switched to a retailer in the Open Electricity Market have saved between 20% to 30% compared to the regulated tariff.
It is too early to determine if the cost savings have led to changes in household electricity consumption patterns since the Open Electricity Market rollout was only completed in May 2019.
The Ministry of Trade and Industry and the Energy Market Authority plan to conduct a study on consumption changes at an appropriate time.

Questions identified by AI (learn more)

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Melvin Yong Yik Chye

Mr Melvin Yong Yik Chye asked the Minister for Trade and Industry (a) what are the average savings in electricity bills for households that have switched to the Open Electricity Market; and (b) whether the Ministry has observed an increase in average household electricity consumption arising from the cost savings.

Chan Chun Sing

Households that have switched to a retailer in the Open Electricity Market (OEM) have enjoyed between 20% to 30% savings compared to the regulated tariff.

Given that the OEM rollout was only completed recently in May 2019, it is too early to determine whether the cost savings have resulted in any changes to households' electricity consumption patterns. The Ministry of Trade and Industry (MTI) and Energy Market Authority (EMA) intend to conduct a study on this at an appropriate time.

Summary written by AI (learn more)

Households that switched to a retailer in the Open Electricity Market have saved between 20% to 30% compared to the regulated tariff.
It is too early to determine if the cost savings have led to changes in household electricity consumption patterns since the Open Electricity Market rollout was only completed in May 2019.
The Ministry of Trade and Industry and the Energy Market Authority plan to conduct a study on consumption changes at an appropriate time.

Questions identified by AI (learn more)

Average Savings in Electricity Bills for Households That Switched to Open Electricity Market | PAPERCUTS

Average Savings in Electricity Bills for Households That Switched to Open Electricity Market

Debated in Parliament on 2 Sep 2019.

Summary written by AI (learn more)

Households that switched to a retailer in the Open Electricity Market have saved between 20% to 30% compared to the regulated tariff.
It is too early to determine if the cost savings have led to changes in household electricity consumption patterns since the Open Electricity Market rollout was only completed in May 2019.
The Ministry of Trade and Industry and the Energy Market Authority plan to conduct a study on consumption changes at an appropriate time.

Questions identified by AI (learn more)

Full Transcript

Melvin Yong Yik Chye

Chan Chun Sing

Households that have switched to a retailer in the Open Electricity Market (OEM) have enjoyed between 20% to 30% savings compared to the regulated tariff.

Summary written by AI (learn more)

Households that switched to a retailer in the Open Electricity Market have saved between 20% to 30% compared to the regulated tariff.
It is too early to determine if the cost savings have led to changes in household electricity consumption patterns since the Open Electricity Market rollout was only completed in May 2019.
The Ministry of Trade and Industry and the Energy Market Authority plan to conduct a study on consumption changes at an appropriate time.

Questions identified by AI (learn more)

Average Savings in Electricity Bills for Households That Switched to Open Electricity Market

Summary

Questions Identified

Full Transcript

Melvin Yong Yik Chye

Chan Chun Sing

Summary

Questions Identified

Average Savings in Electricity Bills for Households That Switched to Open Electricity Market

Summary

Questions Identified

Full Transcript

Melvin Yong Yik Chye

Chan Chun Sing

Summary

Questions Identified