Some 85% of the Singapore residential customers who have switched retail electric suppliers, in a survey of the Singapore retail electric market, were satisfied with the level of service provided by their retailer, Singapore's Energy Market Authority (EMA) reports

Almost all (98%) found the process of switching to a retailer easy.

When asked if their retailers had presented their offers accurately, nearly all the respondents (94%) said yes.

"The survey results also showed that residential consumers were generally aware of the electricity rate, contract start and end dates, and details of their security deposit. However, they paid less attention to other contractual terms such as late payment charges and early termination charges. As part of the contracting process, EMA requires each OEM retailer to ensure that consumers read and acknowledge the Fact Sheet, which includes these important details. EMA advises consumers to read the Fact Sheets thoroughly and take note of other possible charges," the EMA said

Through consumers’ responses in the survey, EMA developed a rating system to reflect the overall satisfaction level for each OEM retailer. Among the 12 retailers, Ohm Energy, Sunseap Energy and Tuas Power received the highest rating (4 out of 5 stars). These ratings can be found on the OEM website www.openelectricitymarket.sg and will be updated every six months (refer to Annex A for details).

"About 40% of residential consumers have switched to a new electricity retailer as of end August 2019. Those who switched enjoyed savings of 20% to 30% compared to the regulated tariff. The top three OEM retailers, based on market share of residential consumers, are Keppel Electric (27%), Geneco (21%) and iSwitch (13%)," the EMA said

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