Singapore electricity retail market will be fully open later in 2018, which will give more rights to the rest of the 1.3 million Singapore local domestic electricity consumers to choose their electricity provider freely. Singapore Straits Times reported on October 27, 2015.

"Our ultimate goal is to allow retail competition in the electricity market. The energy market authority (EMA) is cooperating and industry stakeholders. The electricity retail market will be fully open later in 2018. This will make the rest of the 1.3 million consumers, mostly home users, can be flexible and selective in the power consumption." Yi Huaren, Minister of trade and industry said at the Singapore International Energy Week.

He stated that the energy market authority will release more details of the retail energy market fully competitive plan soon.

Since 2001, the Government has gradually liberalized the local retail electricity market, so that more consumers can choose their electricity suppliers freely. On July 1, 2015, the Government gave consumers whose average monthly amount 2 megawatt hours (MWh) to 4 MW hours can choose their electricity suppliers. These consumers are mainly small and medium enterprises. To date, there are 33,000 electricity users whose per month average at least 2 megawatt hours may choose their electricity provider, from large chemical plants to small businesses such as coffee shops, kindergartens. These consumers are able to choose the most suitable for their facilities from different retailers. Therefore, they can better manage their energy costs.

When the electricity retail market is fully opened, local users will have multiple vendors to choose from. Now their only option is new energy services company (SP Services).

In Singapore, there are many energy retailers. That gives more chances for people choose their utility and competitive suppliers instead of being captive to a single energy provider. The biggest benefit of competitive retail suppliers is that they can provide a variety of service plans which offer businesses and consumers flexibility in their energy purchases. What is more, they can also provide services to against price fluctuations as well as more choices for alternative energy resources including newer energy efficiency projects. Thus, consumers and businesses will have more opportunities to choose the services which can best meet their needs.