Electricity Contracting Support for Large Business Consumers for June 2022 [CLOSED]

Update: Our Registration of Interest has closed. For other options, kindly visit EMA website. Thank you.

Introduction

  1. The Energy Market Authority (“EMA”) has received feedback that some large business consumers have experienced difficulties in securing fixed price electricity contracts in recent months due to unprecedented volatility in the global energy market as well as in the Singapore Wholesale Electricity Market.
  2. EMA has worked with Seraya Energy Pte Ltd to offer significant fixed price retail contracts to large business consumers who have difficulty in securing a retail contract for June 2022. While the fixed electricity price under the one-month retail contract reflects the prevailing high fuel prices, it will provide consumers with greater price certainty compared to the Wholesale Electricity Price (“WEP”).
  3. Large business consumers, with an Average Monthly Consumption of at least 4 MWh, are eligible to sign up for one-month fixed price retail contract for the month of June 2022.
  4. Towards the end of your contract, you can choose to re-contract with Seraya Energy Pte Ltd, switch to another retailer or switch back to buy electricity at the WEP.
  5. Following are the key terms of the June Contract:
    Electricity Retailer Seraya Energy Pte Ltd
    Type of Price Plan Fixed Price Plan#
    Contract Duration 1 June 2022 (or later) to 30 June 2022
    Maximum Fixed Electricity Price (cents/kWh) 37.561 cents/kWh
    Are the following third-party charges applicable and payable by the consumer in addition to the Fixed Electricity Price?
    Monthly Energy Uplift charges Yes
    Hourly Energy Uplift charges No
    Allocated Regulation Price Yes
    Energy Market Company fees Yes
    Power System Operator fees Yes
    Transmission Charges (Peak) Yes
    Transmission Charges (Offpeak) Yes
    Contracted Capacity Charges* Yes
    Uncontracted Capacity Charges* Yes
    Reactive Power Charges* Yes
    Meter Reading & Data Management Charges Yes
    Market Development & System Charges Yes
    Vesting Contract Debit/Credits No
    Additional Fees and Charges
    Security Deposits
    1. 1 month of Estimated Monthly Bill Amount (inclusive of GST)
    2. Estimated Monthly Bill Amount is the Maximum Fixed Electricity Price multiplied by the declared monthly consumption.
    3. Security Deposit must be furnished no later than 3 business day before contract start date.
    Early Termination Charges 50% x estimated monthly bill amount
    Late Payment Charge Interest on the amount outstanding at the rate of 7.25% per annum.
    Transmission Loss Factor Pass-Through
    Carbon Tax Charge $2.04/MWh
    Payment Terms 10 calendar days
    Other Terms and Conditions All other terms and conditions shall follow Seraya Energy’s general terms and conditions provided in our quotation to you upon receiving your email request.

    # For the nominated monthly consumption only
    * Not applicable for consumers taking supply at low-tension (i.e. below 6.6 kV) level.

  6. If you are interested to find out more about our June Contract, please submit your request here.
  7. Please note that the deadline to sign up for our June Contract is on 25 May 2022. We seek your understanding that there will be no deadline extension.

EMA’s Consumer Advisory

Please note that the fixed electricity price under the one-month retail contracts offered by the participating retailers for the Temporary Electricity Contracting Support scheme show the maximum fixed electricity price for the contract month. Consumers can engage participating retailers to negotiate pricing and non-pricing terms. Retailers usually request consumer to provide more information such as their historical electricity consumption profile to adjust the electricity price and other terms.

The participating retailers’ offers under the scheme are subject to availability and will be contracted on a first-come-first-served basis. It is not compulsory for consumers to sign-up for monthly fixed price contracts. Consumers can continue to engage retailers on alternative pricing arrangements that best suit your needs.

FREQUENTLY ASKED QUESTIONS

  • Who are eligible for the retail contracts offered?
    Large non-domestic consumers with an average electricity consumption of at least 4MWh per month, who have difficulty securing a retail contract for June 2022 or who will be buying electricity from the Singapore Wholesale Electricity Market (“SWEM”) through SP Group or a retailer at the Wholesale Electricity Price (“WEP”) in June are eligible for these contracts.
  • Why is there only a one-month price plan for June 2022?
    With monthly price plans, consumers can avoid being locked into long-term contracts, allowing them to consider other offers upon the expiry of the contracts. Consumers are encouraged to negotiate with the retailers on pricing and non-pricing terms, including longer contract duration.
  • When can I sign up for the one-month fixed price plan and when does it expires?
    Consumer can request for a quotation from participating retailer from 17 May 2022. Consumer must sign up before 25 May 2022 (“Deadline”). There will be no further extension of the Deadline.
  • When does the one-month fixed price contract starts and when does it expires?
    The contract start date will be on 1 June 2022 or later and with the end-date no later than 30 June 2022. Security Deposit has to be provided to the participating retailer before the contract can commenced.
  • What will happen when my contract expires by 30 June 2022?
    If you have not entered into any retail contract with the participating retailer for July 2022, your account will be transferred back to SP Group on WEP when the contract expires on 30 June 2022.
  • Is it compulsory for eligible consumers to sign up for these price plans?
    It is not compulsory for eligible consumers to sign up for these price plans. They can continue to negotiate with retailers for alternatively arrangements that best suit their needs.