Question
Mr Gerald Giam Yean Song: To ask the Minister for Trade and Industry (a) whether he can provide a breakdown by flat type of the households which are still buying electricity from SP Group at the regulated tariff; and (b) whether EMA has conducted any market research to determine what are the reasons why these households have not chosen to switch to a retailer in the Open Electricity Market.
Written Answer by Minister for Trade & Industry Mr Chan Chun Sing
1. As of October 2020, 52% of around 1.4 million households have chosen to remain with SP Group on the regulated tariff:
|
Household Type |
Households with SP Group on the Regulated Tariff |
|
|
Number of household accounts (rounded off to nearest thousand) |
% of household account type* (rounded off to nearest whole number) |
|
|
HDB 1- and 2-room |
67,000 |
79% |
|
HDB 3-room |
153,000 |
63% |
|
HDB 4-room |
212,000 |
50% |
|
HDB 5-room and Executive |
131,000 |
42% |
|
Condominium and other apartments |
177,000 |
52% |
|
Landed properties |
30,000 |
40% |
2. EMA has conducted surveys to better understand consumers’ response to the OEM. Generally, most consumers who switched did so to enjoy cost savings. The main reasons that consumers cited for not switching to a retailer are their comfort with SP and a lack of awareness or trust in the new retailers. EMA will continue to educate consumers about the OEM to ensure that they can make an informed choice about their electricity plans.