Key Takeaways:
SP Group's regulated tariff hit a record 34.78¢/kWh in Q3 2026, but Keppel Electric's Fixed24 plan still undercuts it at 27.50¢/kWh, with five other retailers converged at 29.80¢/kWh. Solar export rates have also climbed sharply this year, and a 10kWp system can still save a typical landed home an estimated S$ 97,700 over 25 years.

[Updated, August 2026]

SP Group's regulated tariff just hit  34.78¢ per kilowatt-hour (kWh) in Q3 2026 — a record high, and a 17% jump on the back of  higher natural gas prices tied to global supply disruptions. If your bill has crept up and your usage hasn't, this is why.

This guide breaks down current prices from every retailer, so you can find the plan that saves you the most.

Finding The Best Electricity Plan In Singapore: Open Electricity Market (OEM) Explained

The Open Electricity Market (OEM) launched in 2018, giving households the freedom to choose their own electricity retailer instead of paying SP Group's regulated tariff.  This allows homeowners to save by picking a plan that fits their needs and budget.

Seven retailers currently compete for residential customers: Geneco, Keppel, PacificLight Energy, Sembcorp Power, Senoko Energy Supply, Tuas Power, and Union Power — each with its own plans and pricing.

Types Of Electricity Plans Offered

Fixed Price Plan

Like your existing plan with Singapore Power (SP), you sign a contract and pay a fixed rate for every kWh used.

Discount Off Regulated Tariff (DORT) Plan

The amount you pay is tied to the regulated tariff set by the Energy Market Authority (EMA), but a DORT plan offers a discount off that rate. Most DORT plans disappeared after Q1 2024, though Senoko relaunched one in 2026  (LifeSteady24) at a fixed 1.64¢/kWh below the prevailing tariff.

Electricity Price Comparison Overview In Singapore

For homeowners with solar panels installed, take note: electricity export rates have risen sharply in 2026. USEP climbed from around $118.6/MWh in January to $205.6/MWh by June 2026, driven by global gas price pressures — meaning Open Electricity Market (OEM) export schemes are no longer the poor choice they were in 2024–2025, though the fixed Solar Contribution Tariff (SCT) rate still edges out USEP for now.

EMA has said further increases are possible if the conflict continues, though prices could fall in Q4 2026 if it eases.

For a deeper look at USEP trends, see our article on Uniform Singapore Energy Price.

Tip: Did you know that if you live in landed property, installing solar on your roof can reduce your utility bill by 30-50% on average? Learn more about the benefits of solar.

Without solar, you can still explore the OEM's retailers and plans directly. The tables below break down each retailer's current rates so you can find the best fit.

Some retailers add extra fees, so check the fine print before choosing one to avoid surprises.

Cheapest Fixed-Price Electricity Plan

Electricity Price Comparison: List Of Providers You Can Choose From

The retailers below are ordered from most to least affordable, so you can quickly find a plan that fits your budget.

Still, do your research before committing. Plans often come with their own perks, rebates, and discounts.

1. Geneco

Geneco consistently ranks among Singapore's most affordable retailers. It also offers Singapore's first customisable green plan add-on: Power Eco. Customers can add Carbon Credits (CC) or Renewable Energy Certificates (RECs) to any plan, with coverage starting from 0.25¢/kWh.

2. Keppel Electric Pte Ltd

Keppel Electric offers 4 plans, two of them green options to help reduce your carbon footprint. Whether cost or sustainability matters more to you, Keppel has an option that fits.

For further details, request a quote at : https://www.keppelelectric.com/commercial-price-plan

3. PacificLight Energy Pte Ltd

PacificLight offers the widest range on the market with 9 plans covering a variety of lifestyles and usage patterns.

For further details, request a quote at :  https://www.pacificlight.com.sg/business

4. Sembcorp Power Pte Ltd

Sembcorp offers two residential plans: a standard fixed-price plan and a 12-month green electricity plan. It also offers solar panel installation and financing.

5. Senoko Energy Supply Pte Ltd

Senoko builds at least 3% renewable solar energy into every plan. Its LifeGreen24 plan goes further, offering 100% carbon-neutral power.

For further details, request a quote at : https://www.senokoenergy.com/businesses

6. Tuas Power Supply Pte Ltd

Beyond its electricity plans, Tuas Power throws in Singlife coverage which lets you choose between home insurance or utilities relief insurance.

Transmission Loss Factor Explained: a small percentage of electricity is lost in transmission. Some retailers fold this loss into their rates upfront; others don't disclose it until later. Tuas Power takes the transparent route, building it into the rate from the start.

7. Union Power Pte Ltd

Union Power skips security deposits, registration fees, and Transmission Loss Factor charges. It doesn't publish rates online. It’s recommended to contact them by email for a quote based on your usage. As a ballpark, a past 6-month plan was priced at 48.60¢/kWh.

Electricity Bill Singapore Guide: Average Electricity Consumption Of Households In Singapore

Here's what different household types pay on SP Group's regulated tariff.

These figures use the Q3 2026 tariff of 34.78¢ per kilowatt-hour (kWh), including GST, based on the latest information from SP Group as of July 2026:

Source: https://www.spgroup.com.sg/our-services/utilities/tariff-information

Average Electricity Consumption Of Landed Properties That Adopt Solar Energy In Singapore

Considering solar? A typical 10 kWp system produces around 1,041 kWh a month, enough to offset roughly half a bungalow's average usage (1,872 kWh/month, per the table above).

GetSolar's 90% performance guarantee is the output we contractually guarantee your system will deliver against its rated capacity. Applying that guarantee to this system's rated output works out to roughly 937 kWh of self-consumed solar power a month, which translates to roughly S$326 in avoided grid costs monthly (937 kWh x 34.78¢/kWh), or about S$3,910 a year, at the current Q3 2026 tariff.

Held flat over 25 years, that's an estimated S$97,700 in savings, though real-world figures will vary with future tariff changes, panel degradation, and system costs.

Best Alternative Electricity Plan In Singapore: Solar Energy

Solar panels can cut electricity bills dramatically, and our customers' experiences back that up. Take Adrian, who installed a S$24,000, 14kWp system in 2019 — he's paid $0 on electricity since, with excess generation exported for extra income during sunnier months.

Tip: Upfront cost too steep? GetSolar's Rent-to-Own programme charges a fixed monthly payment that is often cheaper than your current bill, with servicing and maintenance included for free.

FAQs About OEM Electricity Providers In Singapore

Why Can Electricity Retailers Offer Lower Electricity Prices As Compared To SP Group?

Retailers buy electricity from the wholesale market, where prices can dip during periods of excess supply, letting them undercut the regulated tariff.

Your rate stays fixed for the contract term, but renewal rates shift with the market. Worth checking OEM trends before you renew.

How Do I Switch To An Electricity Retailer?

Switching is straightforward: pick a plan on your chosen retailer's website and sign up directly.

Look beyond price too since customer service quality and contract terms matter just as much as the rate. Some other considerations include:

• Administrative fee
• AMI metre installation fee
• Auto-renewal of contract clause
• Carbon tax
• Early termination charges
• Late payment fee
• Paper bill option
• Security deposit requirement
• Transmission loss factor
• U-Save GST Voucher eligibility

Make The Switch To The Best Electricity Plan In Singapore

Switching to the right OEM retailer is one of the easiest ways to cut your electricity costs, and most providers have streamlined the process into a hassle-free transition.

Likewise, if you're keen to explore solar, why not choose GetSolar – a trusted solar panel company in Singapore. Check out our free solar calculator to calculate your potential roof savings, or chat with our solar advisors for a no-obligation assessment.