The OEM or the open electricity market is an important effort taken by the government of Singapore in order to liberalize the market for all the people living in Singapore. This energy market initiative has allowed the residential property owners to buy electricity from the retailers based on their requirements and suitable plans.
Considering this initiative, a lot of retailers have come up in the market offering electricity to the customers. These retailers also provide a number of cost-effective plans which customers can select based on their requirements and budget. The open energy market of Singapore offers several benefits to the customers due to which it has gained wide popularity all over the nation.
Here, in this article, you will come to know about the benefits associated with open energy market Singapore. So, without wasting much time. Let’s have a look at those benefits below –
What are the benefits associated with open energy market of Singapore?
- Several electricity plan options for customers
The open energy market retailers offer several choices to the customers fulfilling their requirements. Different types of plans come with different types of benefits. You can choose from these plans based on your current requirements and budget. These retailers even offer potential huge cost-saving plans to their customers so people can benefit the maximum from it.
However, for choosing the best plan, you first need to determine your consumption habits. How much electricity you need for your household work every day is the very first thing which you should take into consideration. Once you determine your consumption habit per day, your next task is to check out the different plans offered by the retailers.
- Competition to provide better prices and benefits to the customers
This open energy market of Singapore has created a competition among the retailers in the market due to which each retailer is bringing cost-effective plans with numerous benefits for grabbing more and more attention from the customers.
The electricity retailers are offering great services at great price rates, which definitely offers a helping hand to the customers to avail of the best cost-effective plan as per their budget and requirements. Beyond prices and benefits, the retailers are also trying to give value to their esteemed customers. The retailers are offering many attractive plans and benefits to the customers, such as referral cash back, a free month of electricity, and various promotional awards.
- Create more awareness among customers for energy consumption
The introduction of the new concept open energy market and a large number of retailers have made the people of Singapore more aware of their electricity consumption and how to keep the stock various consumption patterns. This is a very important step taken by the government of Singapore.
When you become more conscious about your electricity consumption requirements such as how much power your home appliances are consuming, what are the areas of wastage which should be reduced considering all these factors you can more smartly use electricity which will save both your money and natural resources at the same time.
These are the benefits associated with open energy market of Singapore.