Energy CONNECT

A half-yearly e-newsletter by the YTL PowerSeraya Group

Number of Contestable Consumers to Increase

Retail electricity market to further liberalise, giving consumers more options.

Seraya15AUG16951The retail electricity market is moving towards another exciting phase as more commercial and industrial consumers will soon be able to choose their own preferred electricity retailer come 1 July. Under the Energy Market Authority’s (EMA) Increased Retail Contestability Plus (IRC+) initiative, the contestability threshold will be lowered to 2,000 kWh (of which its monthly electricity bill is about $550). This adds an additional 10,000 commercial and industrial consumers to the current 23,000 who are already eligible as contestable consumers.

Contestable consumers can choose to buy electricity at the regulated tariff, from private electricity retailers or the wholesale electricity market.

Currently, a commercial or industrial consumer with an average monthly electricity consumption of at least 4,000 kWh (that equates to a monthly electricity bill of about $1,100) is eligible to become contestable.

Four months before the IRC+ initiative takes effect, eligible consumers may already start applying for contestability from March onwards. This latest move by EMA is in line with its plans to reach Full Retail Contestability – i.e., to further include the remaining 1.3 million small consumers (mainly households) to eventually become contestable.

In line with the series of recent IRC developments, Seraya Energy has eased the switch for many of these new contestable businesses. Its tariff product solution* has also helped businesses manage their energy costs and reduce their need to monitor electricity price movements. This allows businesses to focus on their core operations.

*Seraya Energy’s Tariff product is pegged to the regulated tariff, which offers guaranteed discounts off the regulated tariff rates. For more information, email marketing@pseraya.com.sg.

Refer and Receive

Electricity is a basic necessity needed to run every business operation.

As a Seraya Energy customer, perhaps you may know of friends and business associates who would love to learn about how they can save on their monthly electricity bills – just like you already do.

So why not help these people around you and receive $200 worth of gifts at the same time?

Email marketing@pseraya.com.sg or visit https://www.serayaenergy.com.sg/refer-a-customer.

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