Singapore electricity retailers up offerings to meet higher demand amid Middle East conflict

The proportion of households on fixed-price plans increased between Feb 1 and Sept 1, from around 36.6% to 38.4%.

ST PHOTO: CHONG JUN LIANG

Published Sep 28, 2026, 04:55 PM

Updated Sep 28, 2026, 07:02 PM

Electricity retailers in Singapore have seen an increase in demand for fixed-price plans amid concerns over high energy costs due to the Middle East conflict.

The Energy Market Authority said the proportion of households on fixed-price plans grew from 36.6% to 38.4% between February and September.

Retailers like Geneco and PacificLight Energy introduced new offers to attract customers amid regulated tariff increases.

SINGAPORE – Some electricity retailers have offered new promotions or plans as concerns over high energy costs due to the Middle East conflict prompt more households to lock in their electricity rates through fixed-price contracts.

The Energy Market Authority (EMA) told The Straits Times that households on fixed-price plans rose from around 36.6% on Feb 1 to 38.4% on Sept 1.

Meanwhile, the share of households buying electricity at the regulated tariff through SP Group declined from 63.4% to 61.6% over the same period.

Less than 0.1% of households buy electricity at wholesale prices.

An EMA spokesperson said: “The increase in households taking up fixed-price contracts may be due to a confluence of factors, such as consumers’ efforts to insulate themselves from the potential of higher tariffs, and new households formed during this period.”

The electricity tariff set by grid operator SP Group and regulated by EMA, which is largely influenced by energy costs, has been rising since the US and Israel launched strikes on Iran on Feb 28 .

The tariff, which is reviewed quarterly, is currently 31.91 cents per kilowatt-hour – which is the highest level to date. The rate for the fourth quarter starting on Oct 1 will be announced later this week.

Retailers told ST they have responded to the increased interest in fixed-price plans as households seek more certainty around their power bills.

Geneco, Singapore’s largest residential electricity retailer, serving more than 175,000 households, introduced a fixed-price plan promotion after the third-quarter tariff hike was announced. It offered an additional $200 rebate to SP Group customers who switch over.

Sign-ups jumped by three to five times in recent months, which its CEO, Lim Han Kwang, attributes to customers wanting to “better plan their electricity spending without being directly exposed to fluctuations in the regulated tariff during the contract period”.

PacificLight Energy, which has also seen more interest in its fixed-price plans, has expanded its range of offerings for households. It introduced a discount-off-tariff plan in July, which offers customers an 18% discount off the regulated tariff, with a daily charge of 55 cents a day, factoring in GST.

General manager Geraldine Tan said the new plan will provide households with “greater flexibility and a wider range of choices to manage their electricity costs”.

Meanwhile, Keppel Electric has brought back its Suresave discount-off-tariff plan that had been removed from its website in mid-March . It had offered a no-contract lock-in option featuring a 15% discount on the regulated tariff and no early termination fees.

The plan was made available again in June, with customers allowed to select a service start date from Oct 1.

It now promises 12% off the regulated tariff rate, with no contract lock-in for customers currently with SP Group.

Keppel Electric, which described the plan on its website as “simple, transparent, and always below tariff”, declined to comment when approached by ST.

Senoko Energy’s head of commercial and corporate communications, James Chong, has observed an increase in sign-ups and enquiries from existing customers seeking early renewal of their fixed-price plans.

“While our product offerings have remained structurally unchanged since the conflict in the Middle East began in February, we have seen growing interest in fixed-price plans amid heightened attention on energy prices,” he said.

Tuas Power similarly observed that the increase in customer sign-ups, which began in March, has been sustained to date.

“Most contracts signed are for more than two years, reflecting customers’ expectations going forward,” said Lim Sam San, senior vice-president of its retail business.

Sembcorp Power, the sixth retailer that currently offers plans for households, did not respond to ST requests for comment.

Flo Energy, which is also listed as a retailer on the Open Electricity Market, does not supply electricity to households, but plans to do so in 2027.

Annabelle Liang is a business correspondent at The Straits Times, where she specialises in trade and macroeconomics.

Electricity and power

从 2 月 1 日到 9 月 1 日，采用固定价格计划的家庭比例从约 36.6% 增加到 38.4%。

《海峡时报》照片：梁崇俊

发布于 2026 年 9 月 28 日下午 4:55

更新于2026年9月28日晚上7:02

由于中东冲突导致能源成本高企，新加坡电力零售商发现固定价格套餐的需求有所增加。

能源市场管理局表示，2 月至 9 月期间，采用固定价格计划的家庭比例从 36.6% 增长至 38.4%。

在受监管的电价上涨背景下，Geneco 和 PacificLight Energy 等零售商推出了新的优惠活动来吸引顾客。

新加坡——由于中东冲突导致能源成本高企，一些电力零售商推出了新的促销活动或计划，促使更多家庭通过固定价格合同锁定电价。

能源市场管理局 (EMA) 告诉《海峡时报》，固定价格计划的家庭比例从 2 月 1 日的约 36.6% 上升到 9 月 1 日的 38.4%。

与此同时，同期通过新加坡电力集团以管制价格购买电力的家庭比例从 63.4% 下降到 61.6%。

不到0.1%的家庭以批发价购买电力。

欧洲市场管理局 (EMA) 的一位发言人表示：“签订固定价格合同的家庭数量增加可能是多种因素共同作用的结果，例如消费者努力避免受到电价上涨的影响，以及在此期间新组建的家庭。”

由电网运营商SP集团制定、EMA监管的电价，主要受能源成本影响，自2月28日美国和以色列对伊朗发动袭击以来一直在上涨。

该电价按季度调整，目前为每千瓦时31.91美分，为迄今为止的最高水平。从10月1日开始的第四季度电价将于本周晚些时候公布。

零售商告诉《海峡时报》，他们已经响应了消费者对固定价格计划日益增长的兴趣，因为家庭希望对其电费账单有更大的确定性。

新加坡最大的住宅电力零售商Geneco，服务超过17.5万户家庭，在第三季度电价上涨消息公布后推出了固定价格套餐促销活动。该公司还向转用Geneco服务的新加坡能源集团（SP Group）客户提供额外200新元的折扣。

近几个月来，注册用户数量增长了三到五倍，其首席执行官林汉光将此归因于客户希望“更好地规划他们的电力支出，而无需在合同期内直接承受受监管电价波动的影响”。

PacificLight Energy的固定价格套餐也越来越受欢迎，因此该公司扩大了面向家庭用户的服务范围。7月份，该公司推出了一项折扣套餐，为客户提供18%的监管价格折扣，每日费用为55分（含消费税）。

总经理 Geraldine Tan 表示，新计划将为家庭提供“更大的灵活性和更广泛的选择来管理他们的电力成本”。

与此同时，吉宝电力重新推出了3月中旬从其网站下架的“省电优惠计划”（Suresave）。该计划提供无合约锁定选项，可享受15%的管制电价折扣，且不收取提前终止费用。

该计划于 6 月再次推出，客户可以选择 10 月 1 日起的服务开始日期。

现在，该公司承诺为现有新加坡太平洋集团 (SP Group) 的客户提供 12% 的监管费率折扣，且不设合同锁定期限。

吉宝电力在其网站上将该计划描述为“简单、透明且始终低于关税”，但当《海峡时报》联系该公司时，该公司拒绝置评。

Senoko Energy 的商业和企业传播主管 James Chong 注意到，现有客户寻求提前续签固定价格计划的注册和咨询量有所增加。

“虽然自2月份中东冲突爆发以来，我们的产品结构一直保持不变，但随着人们对能源价格的关注度提高，我们看到固定价格计划的兴趣日益浓厚，”他说道。

Tuas Power 也观察到，自 3 月份开始的客户注册量增长趋势一直持续至今。

“大多数签订的合同期限都超过两年，这反映了客户对未来的期望，”该公司零售业务高级副总裁林三山表示。

胜科电力是目前提供家庭套餐的第六家零售商，但该公司没有回应《海峡时报》的置评请求。

Flo Energy 也是公开电力市场上的零售商，目前不向家庭供电，但计划在 2027 年开始向家庭供电。

梁安娜贝尔是《海峡时报》的商业记者，专门报道贸易和宏观经济。

电力