DBS Electricity Marketplace
Switch and Save at Electricity Marketplace
Switching to better savings in the new liberalised electricity market is as easy as 1, 2, 3. Just pick a plan that suits you, and we’ll take care of the registration details.
Compare different plans
Switch at your fingertips
Save up to S$400*
on your electricity bills yearly
*S$400 savings a year is based on the average electricity consumption of a 5-room household in 2018, with electricity tariff as of Q2 2019.
What Do I Need to Know Before I Switch?
#1 Which type of price plan is right for me?
Fixed RatePay the same rate throughout the contract duration, regardless how tariffs# change. Choose this if you prefer the certainty of paying a rate that does not change, even when Singapore Power tariffs fluctuate.
Discounted RateEnjoy a fixed discount off the tariff set by Singapore Power. The rate you pay may change, depending on tariff fluctuation. If you’re confident tariffs will drop, or are not fussed about minor price fluctuations, this plan would suit you.
#The regulated tariff is the rate at which SP Services charges its customers for electricity usage. It is reviewed every quarter.
#2 What’s the difference between a standard and non-standard plan?
Standard Price PlansThere are no surprises with a standard price plan. What you see is what you get, which gives users peace of mind.
Non-Standard Price PlansThese plans offer greater flexibility in pricing structure, which may be a better fit for you if your usage pattern deviates from the norm. Always check your plan fact sheet for the details, as each plan differs from retailer to retailer.
Here are the key differences between Standard and Non-Standard Price Plans:
|Standard Price Plan||Non-Standard Price Plan|
|Same price structure throughout contract|| |
Price structure may vary during contract
|All applicable charges included|| |
There may be additional fees and charges
|Contract duration||6, 12, 24 months||Not limited to 6,12, 24 months|
#3 What are the 3Cs of sustainable electricity plans?
Clean EnergyA clean energy source is derived from renewable, low-emission resources such as wind, sun, and hydropower. In Singapore, some retailers offer plans that are a blend of green power and fossil fuel energy sources.
Carbon-Neutral EnergyWith a carbon-neutral energy supply, part of your bill is used to offset the environmental cost of producing electricity, via the purchase of carbon credits. These are used to fund projects that reduce greenhouse gases.
Carbon TaxIntroduced in 2019, carbon taxes are intended to curb energy usage and reduce greenhouse gas emissions. The higher your electricity usage, the higher your carbon tax, though some retailers may absorb it.
#4 What are the ‘hidden costs’ I should know about?
Hidden CostsAlways check your plan fact sheet before you select your plan. What appears to be the cheapest plan may have hidden costs such as additional fees and charges for paper bills, meter installation, and early termination to name a few.
- Have a utilities account with SP Services.
- Be a POSB/DBS customer with digibank.
- Have a valid email address and contact number.
These are the companies currently available on Electricity Marketplace.
This does not represent the full list of available retailers in the market. For the full list, please refer to the Open Electricity Market website here.
Frequently Asked Questions
You will need to be a POSB/DBS customer with digibank (iBanking), a valid email address and contact number. If you are an existing SP Services customer, you will also need your SP Services Utility account no. 89XXXXXXXX. This can be found on your top left-hand corner of your SP Services utilities bill.
If you do not have a POSB/DBS account, please sign up here. Upon completion, you may proceed to start your application via our portal.
Yes, all households can switch back to buying electricity from SP Group at the regulated tariff. Please check with your retailer if any early termination or other charges that may apply, before making the decision to switch back.
My SP bill consists of Electricity, Gas, Water and Refuse. What will happen after I switch retailers?
Your new retailer will inform you on the transfer date upon confirmation of sign up by the retailer.