When the SP bill electricity shows up in your inbox, like most, you’d probably find yourself doing the same ritual. Open the app, wince, glance at the aircon settings, wince again. After all, the Q2 2026 tariff currently sits at 29.72¢/kWh inclusive of GST, and it will move again in July.
The Open Electricity Market (OEM) was built for exactly this moment: swap retailer, lock a rate, shave a few cents off each kilowatt-hour. Useful, though not as dramatic as the ads make it sound. What follows is how the plans actually compare in 2026, which ones are worth the switch, and why the real answer for your home might not be an OEM plan at all.
If the OEM was the hawker centre of Singapore’s power supply, then there are simply different stalls selling the same electricity, pulled from the same grid, at slightly different prices and with slightly different freebies thrown in.
For years, SP Group was the only option. But since late 2018, you are free to shop-hop for the deal that fits your household best.
Retailers typically offer two core plans, with a few also offering a peak/off-peak variant for households that keep unusual hours.
| Plan Type | How it Works | Best For |
| Fixed Price | A fixed rate per kWh locked in for 6, 12, 24, or 36 months | Households that want predictability and do not want to think about the bill every quarter |
| Discount Off Regulated Tariff (DORT) | A fixed percentage or fixed-cents discount off SP’s quarterly tariff. The rate moves up and down with SP’s rate | Households that want a guaranteed margin below SP, whatever SP does |
Most retailers phased out traditional DORT plans in early 2024, though a few have since reintroduced fixed-cents versions such as Senoko LifeSteady (1.64¢/kWh off the SP tariff).
Peak/off-peak plans like Senoko LifeSavvy24 and PacificLight Save While Sleeping also exist for the handful of households that genuinely run their heavy appliances after 11pm.
If your washing machine, dryer, and aircon are on a different schedule from everyone else’s, these plans can be a clever play. If not, the daytime peak rate will claw back any overnight savings before you notice.
With a list of active retailers, roughly thirty active plans between them, and a promo rotating every month. Sorting through it all is practically a side hustle, so here is the shortest version: the cheapest plans* across three common use cases, all inclusive of 9% GST.
Disclaimer: All rates are accurate as of April 2026. OEM pricing is adjusted often, so always double-check the retailer’s own page before signing.
Benchmark: SP Group Q2 2026 tariff at 29.72¢/kWh.
If you rent, might move soon, or are simply allergic to lock-ins, the go-to no-contract plan here is PacificLight Easy Peasy.
Key Features:
These plans lock in a rate for the full contract term, which protects you from the quarterly SP rollercoaster. The 24- and 36-month plans by the providers typically offer the cheapest rates, as a reward for your willingness to commit.
| Term | Plan | Rate (¢/kWh) |
| 6 months | Geneco Give Us A Try | 27.00 |
| 12 months | Geneco Get It Fixed 12 | 29.71 |
| 12 months | Senoko LifePower12 | 29.71 |
| 12 months | Keppel FIXED12 | 29.71 |
| 12 months | Tuas PowerFix 12 | 29.71 |
| 24 months | Senoko LifePower24 | 29.71 |
| 24 months | Geneco Get It Fixed 24 | 29.38 |
| 24 months | Tuas PowerFIX 24 | 29.38 |
| 24 months | Keppel FIXED24 | 29.71 |
| 36 months | Senoko LifePower36 | 29.27 |
| 36 months | Tuas PowerFIX 36 | 29.27 |
The single cheapest rate across the market right now is Geneco’s 6-month Give Us A Try at 27.00¢/kWh, a full 2.72¢ below the SP tariff. The catch is the short-term and the re-pricing risk when the contract ends.
For longer-term stability, Senoko LifePower36 and Tuas PowerFIX 36 are tied at 29.27¢/kWh, though a three-year commitment might not be for everyone.
Best Plans for Specific Needs
We get it, not every household fits the standard mould. If your routine runs on its own schedule, these are the plans to consider:
Of the ten licensed OEM retailers, the six below are the ones actively serving Singapore homes with competitive, publicly listed residential plans. Each has its own mix of plans, promos, and perks:
| Retailer | Notable plans | What stands out |
| Geneco | Give Us A Try, Get It Fixed 12/24 | Consistently among the cheapest in the market. The Price Match Guarantee on Get It Fixed 24 refunds the difference if you find a lower rate within 7 working days of signing. Optional Power Eco add-on lets you layer in RECs or Carbon Credits from as low as 0.25¢/kWh |
| Keppel Electric | FIXED12/24, ecoGreen12/24 | Standard fixed plans alongside 100% renewable ecoGreen options. Frequent credit card rebates, such as cardholder promotions running at various points. |
| PacificLight Energy | Easy Peasy, 9 To 9, Savvy Saver 12/24/36, Save While Sleeping 24, Stack It Up 24, Sunny Side-Up, Classic 60 | The widest list of plans by far. Everything from no-contract to peak/off-peak to a rare 60-month 3%-off-SP DORT plan. Also, the retailer is most likely to bundle a daily charge into the plan, so read the fine print before getting excited about the per-kWh rate. |
| Sembcorp Power | Fixed Price 12 (29.71¢/kWh), Sunshine Plan 12 (42.31¢/kWh, 100% solar) | Every plan includes at least 50 kWh of green energy monthly. Also operates a separate solar installation arm. |
| Senoko Energy | LifePower12/24/36, LifeSteady24/36, LifeSavvy24, LifeGreen24 | Second-widest plan range overall. All plans include at least 3% renewable solar. LifeSteady offers a fixed 1.64¢/kWh discount off the SP tariff. |
| Tuas Power Supply | PowerFix 12/18/24/36 | Transmission Loss Factor is already baked into the rate, so no surprise line items. |
So, how do you choose an electricity provider in Singapore? The plan with the flashiest rate is not always the one that keeps the most money in your pocket.
Here’s a quick cheat sheet if you’re lining up quotes side by side.
Here is the honest maths.
Swapping from SP to an OEM retailer saves anywhere from almost nothing (0.01¢/kWh on most 12-month plans, which works out to a rounding error) to around 2.7¢/kWh on Geneco’s standout 6-month deal.
The long-term fixed plans most households actually sign, the 24- and 36-month ones, shave roughly 0.3 to 0.5¢/kWh off the SP tariff. On a home using around 1,000 kWh a month, that works out to about S$3 to S$5 in monthly savings.
Real money, technically, but not enough to change your financial picture. You are still on the same grid, still paying for every kilowatt-hour your home uses, still watching the tariff move every quarter. You have swapped kopi stalls. The kopi still costs roughly the same.
Solar energy plays a completely different game. The catch is that it is not for everyone. In Singapore, solar realistically applies to landed homeowners and commercial or industrial property owners with usable roof space. HDB flats and most condos do not have rooftop access for it to make sense.
Instead of haggling a few cents off the electricity you buy from the grid, the panels on your roof generate electricity that your household uses in real time. The aircon, the fridge, the water heater, the WiFi router that never sleeps. Whatever the system produces during the day reduces what you need to import from the grid at all.
For most landed homes, solar can cut electricity bills by 50% to 80%, depending on usage, system size, and tariff plan. In the sunnier months, production often overshoots consumption, and the surplus gets sold back to SP under the SCT/ECIS scheme. The grid effectively becomes a free battery, without any hardware cost or replacement cycle to worry about.
The usual sticking point is the upfront cost. A solar panel system is a five-figure investment, and that is a lot to drop on a roof while the renovation bill is still fresh and the mortgage is still hungry.
FOMO Energy’s Rent-to-Own solar system model clears that wall (subject to eligibility). Zero upfront cost, fixed monthly payments typically lower than the electricity bill being replaced, full ownership transferring at the end of the term, and O&M handled throughout via our REConnect programme.
In plain terms: the panels arrive, the bill drops, and FOMO keeps watch over the system for you.
FOMO Energy also works directly with Senoko Energy on their Circle of Green programme, which lets landed homeowners with rooftop solar earn extra cash on top of the bill savings. Every megawatt-hour your system generates produces a Renewable Energy Certificate (REC), which Senoko buys back at a potential rate of S$15 per REC, subject to market conditions. A 10kWp system on a semi-detached roof produces roughly 12,500 kWh a year, which works out to a potential annual revenue of S$165 to S$210 from the REC side alone, before counting what SP credits you for surplus exported to the grid. Two income streams, one rooftop.
SMEs have two routes to the same outcome.
Commercial solar installations in Singapore can reduce electricity bills by 75% to 100%, depending on roof size, load profile, and tariff plan. A PPA delivers that saving progressively, charging a per-kWh rate below the grid tariff across the contract term. Rent-to-Own captures the higher end of the range once the system transfers and the electricity it produces becomes essentially free.
An OEM plan trims a few cents off each unit for a 12 to 36-month window. Solar stops you paying for most of those units in the first place, for the next two and a half decades. It is the difference between bargaining for a cheaper daily kopi and owning the kopi machine outright. Somewhere between year six and year nine, the system pays itself off. The remaining decade and a half is effectively free electricity.
So what does the maths actually look like for your roof? Whether you are exploring residential solar panel installation or solar panels for commercial buildings, speak to our team for a tailored assessment of your property.
