The 3 Big Benefits That Households Can Experience From OEM
With the launch of the Open Electricity Market (OEM) market in Singapore, it seeks a more liberalised electricity market. It allows households to purchase electricity from a local power provider in Singapore or other retailers or electricity groups they prefer. The introduction of an open electricity market comes with several benefits for residents and businesses. Here are a few advantages:
The competition allows better and more competitive prices.
Households wouldn't have to face a narrow choice of electricity retailers in Singapore. The open electricity market allows more retailers to join. It opens opportunities for better and competitive price rates. The bigger the competition, the more the price rates and plans become more affordable for households and businesses as retailers will have to compete for value-add to their clients.
Increases energy consumption awareness.
OEM allows electricity consumers such as households and business organisations to stock and recognise their energy consumption patterns. Our ability to recognise and be more aware of our energy consumption is an ideal trait that leads to smarter electricity use and even becoming familiar with the electricity tariff in Singapore. It also allows us to be more conservative and take responsibility when it comes to saving money and energy.
More power plan options for people
Gone are the days where households had to get stuck paying quarterly tariff rates for a fixed plan. Having options for different power plans from a single power provider in Singapore allows for an ideal option that fits every household lifestyle. It enables a household to save more based on selecting the most appropriate plan - which is according to their consumption use.
If you are looking for a reputable electricity supplier in Singapore, Union Power is an electricity retailer that provides cost-efficient value plans for residential and business use!
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