Open electricity market: fixed price or tariff for 2027?

On Singapore's Open Electricity Market the main choices for a household are to stay on SP Group's regulated tariff, which changes every quarter, lock a retailer's fixed price for 6, 12 or 24 months, or take a discount off the tariff. The tariff for 1 October to 31 December 2026 is 28.59 cents per kWh before GST (31.16 cents with 9% GST), down 10.4%, and SP Group has warned it is expected to rise from 1 January 2027 if higher fuel prices persist. If a retailer contract is ending, the auto-renewal rules that have applied since 19 June 2026 give you two notices and 60 days to leave a renewed contract without an early termination fee.

So the useful question is not which plan is cheapest today, but which you could live with if the tariff moved either way.

How is the regulated tariff set, and why might it rise?

SP Group reviews the tariff every quarter under EMA's guidelines. The energy cost part is set from average natural gas prices in the first two and a half months of the preceding quarter, so the October to December 2026 rate reflects cheaper gas between 1 July and 15 September 2026. EMA's June feature says about 95% of Singapore's electricity is generated from imported natural gas, which is why a conflict or harsh weather overseas reaches your bill, a quarter late.

That lag is the case for and against a fixed price. SP Group said on 30 September that global fuel prices had risen since September 2026 because of escalating tensions in the Middle East; it gave no figure for January.

For scale (our arithmetic): the 3.32-cent cut means last quarter's tariff was 31.91 cents before GST, about 34.78 cents with it. SP Group put the saving for an average HDB four-room flat at S$12.99 a month before GST, which implies about 390 kWh a month.

What plans do electricity retailers offer?

EMA's page on buying from a retailer describes two kinds.

• Standard price plans are all-inclusive, run for 6, 12 or 24 months, carry no recurring charges or fees and keep the same pricing for the whole contract: either a fixed price plan (one rate throughout) or a discount-off-the-regulated-tariff plan (a fixed discount off whatever the tariff is).
• Non-standard plans may add fees or recurring charges and may change rates under the contract's terms.

EMA's feature adds time-of-use plans: cheaper off-peak rates (typically nights and weekends) and dearer daytime rates, for households that can shift laundry, dishwashing or car charging.

Switching is optional, with no deadline. Standard plans are listed on the Price Comparison website; we could not read its plans on 31 October 2026, so this guide quotes no retailer prices.

Fixed price, discount or tariff? A worked example

The household and plans are invented for illustration; only the tariffs are SP Group's. Mei Ling's family uses 390 kWh a month, or 1,170 kWh a quarter. Rates include GST.

• Plan F: a fictional 24-month fixed price of 29.50 cents per kWh.
• Plan D: a fictional 24-month plan at 10% off the regulated tariff.

What one quarter costs under three tariffs:

1. Tariff stays at today's 31.16 cents: tariff S$364.57; Plan F S$345.15; Plan D S$328.11.
2. Tariff returns to the previous quarter's 34.78 cents: tariff S$406.93; Plan F S$345.15; Plan D S$366.23.
3. Tariff falls 10%, to 28.04 cents (a hypothetical): tariff S$328.07; Plan F S$345.15; Plan D S$295.26.

What it shows:

• A fixed plan buys certainty, not savings. It beats the tariff only in quarters when the tariff is above 29.50 cents; as EMA warns, if the tariff falls below your rate you keep paying your rate.
• A discount plan always beats the tariff, but moves with it. Plan F beats Plan D only when the tariff is above 32.78 cents (29.50 divided by 0.9).
• Small gaps are small money. At 390 kWh a month, one cent per kWh is S$3.90 a month, so a fee in the fine print can outweigh a rate gap of a fraction of a cent.

To see what your own appliances add, use the appliance running cost calculator with your rate, and our Q4 2026 tariff guide for the method.

What happens when a retailer contract auto-renews?

First check whether your contract renews automatically, the market's contract expiry and renewal page advises.

• If it auto-renews: since 19 June 2026 the retailer must notify you twice, the first time at least 10 days before expiry and the second within three days before, or on, the renewal day, by email or post and by SMS, WhatsApp or app. The renewed rate must be no higher than the prevailing tariff, and you can leave within 60 days without an early termination fee. To stop a renewal, tell the retailer by the deadline in the notice.
• If it does not auto-renew: choose a new plan with any retailer, or the tariff. Say nothing by the deadline and you return to the tariff when the contract ends.

An illustrative timeline for a contract that expires on 31 December 2026 and renews on 1 January 2027: a first notice by 21 December, a second between 29 December and 1 January, and a fee-free exit until about the start of March 2027. Count the 60 days from your own renewal date. The new safeguards do not apply to households buying from SP Group at the regulated tariff.

What if the retailer leaves, or you want to go back?

Every household can switch back to SP Group's regulated tariff, the market's consumer safeguards page says; check early termination charges and other fees first.

If a retailer exits the market, supply is not disrupted, because SP Group runs the grid. The retailer must try to find another retailer to take your account on the same terms; if none does, or you reject the transfer, you move to SP Group's tariff. You pay no early termination charge, and your security deposit is refunded after outstanding charges. EMA warns the price may then be higher than before.

A checklist before you sign

Built from EMA's advice and the market's safeguards:

1. Know your usage. Average several months of bills, or check the SP or retailer app if you have a smart meter.
2. Ask for the Fact Sheet and the Consumer Advisory, and read the contract length, payment terms, security deposit, early termination charges, auto-renewal clause and the terms of any bundled product.
3. Ask whether the quoted rate includes GST, and compare like with like (our suggestion).
4. Think about moving. EMA says a long fixed contract may not suit a household that may move within a year or two. Our early termination charge guide covers the same trade-off for telco contracts.
5. Check the meter. You can keep your meter, billed on EMA's household load profile, or install an advanced meter for half-hourly billing; ask the retailer about any cost, the metering options page says.
6. Keep a copy of the contract. The switch can start as early as five business days after your retailer tells SP Group.

Report unsolicited calls, messages or visits by a retailer to EMA at ema_enquiry@ema.gov.sg or 6835 8000; our Do Not Call Registry guide explains how to register. Disputes you cannot settle with the retailer can go to CASE (hotline 9795 8397, weekdays 9am to 5pm). More comparisons are in our comparing topic.

Common questions