Electricity Cost Singapore 2026 SP Group Tariff, OEM & Saving Guide

SP Group Regulated Tariff — How It Works

SP Group (Singapore Power) is the national electricity transmission and distribution company. If you have not switched to an OEM retailer, you are automatically on the SP Group regulated tariff, which is the default electricity rate in Singapore. This tariff is reviewed and adjusted every quarter (January, April, July, October) by the Energy Market Authority (EMA).

The regulated tariff consists of several components: the energy cost (based on wholesale electricity prices tied to natural gas costs), the network cost (transmission and distribution infrastructure maintenance), the Market Support Services (MSS) fee, and the Power System Operation fee. Since Singapore generates over 95% of its electricity from imported natural gas (primarily LNG), global gas prices directly influence the quarterly tariff adjustments.

Over the past several years, the tariff has fluctuated significantly. During the 2022-2023 energy crisis driven by the Russia-Ukraine conflict, the SP tariff peaked at approximately 32-33 cents/kWh. As LNG prices stabilized, rates moderated but remained elevated at 27-32 cents/kWh through 2024-2025. In 2026, the tariff sits at approximately 30-33 cents/kWh depending on the current quarter. Every Singapore household receives a quarterly SP Group bill that details consumption, tariff applied, and GST (9% from 2024 onwards).

Important to note: even if you switch to an OEM retailer, SP Group remains your physical electricity provider. SP handles metering, grid infrastructure, and emergency response. Your OEM retailer only determines the pricing plan you pay. There is zero difference in electricity quality or reliability between SP regulated and OEM supply.

Open Electricity Market (OEM) — Switching to Save 15-35%

Singapore’s Open Electricity Market was fully launched in May 2019, allowing all residential and business consumers to choose from licensed electricity retailers. As of 2026, there are approximately 12-15 active OEM retailers offering various plan types, with over 40% of residential consumers having switched from the SP regulated tariff.

The main OEM retailers include Geneco (by YTL PowerSeraya), Keppel Electric, Senoko Energy, Tuas Power Supply, Ohm Energy, iSwitch, PacificLight Energy, Diamond Electric, and Union Power. These retailers offer three main plan types:

Fixed-price plans (most popular): A locked-in rate per kWh for 6, 12, or 24 months. Rates typically range from 20-28 cents/kWh depending on contract length and market conditions. Longer contracts generally offer lower rates. This provides bill certainty and protection against SP tariff increases. Example: Geneco 24-month fixed at 22.88 cents/kWh versus SP regulated at 32 cents = 28% savings.

Discount off regulated tariff (DOT): You pay SP Group’s tariff minus a guaranteed percentage discount (typically 15-25% off). Your rate floats with SP quarterly adjustments, but you always pay less than the regulated rate. Suitable if you believe SP tariffs will decrease. Example: 20% discount off SP tariff of 32 cents = 25.6 cents/kWh.

Wholesale price (spot) plans: You pay the half-hourly wholesale electricity price plus a small retailer margin. Prices can be very low (5-15 cents/kWh) during off-peak periods but spike during demand peaks (sometimes 50+ cents/kWh). Suitable only for price-savvy consumers who can shift consumption to off-peak hours. Riskiest option but potentially cheapest for disciplined users.

Switching between retailers is free (no switching fees for residential consumers), takes 1-2 billing cycles, and requires no physical changes to your meter or connection. You simply sign up online with a new retailer, and they handle the transfer. Compare plans at the official EMA comparison website: openelectricitymarket.sg.

Average Electricity Bills by Housing Type

Singapore’s housing landscape is unique, with approximately 80% of the population living in HDB (Housing and Development Board) public housing flats. Electricity consumption correlates closely with flat size and air conditioning usage patterns.

HDB 2-room/studio (35-45 sqm): Average consumption 200-350 kWh/month. Monthly bill: S$60-115. Typically occupied by singles or elderly couples with minimal AC usage. Many 2-room residents keep AC to bedroom-only at night.

HDB 3-room (65 sqm): Average consumption 350-450 kWh/month. Monthly bill: S$105-150. Standard for small families. AC in 1-2 bedrooms at night represents the largest consumption category.

HDB 4-room (90 sqm): Average consumption 450-600 kWh/month. Monthly bill: S$135-200. The most common flat type in Singapore. Families typically run 2-3 AC units during sleeping hours. A 4-room HDB is the benchmark for “average” Singapore household electricity consumption.

HDB 5-room/executive (110-130 sqm): Average consumption 550-750 kWh/month. Monthly bill: S$165-250. Larger families with more appliances and higher AC usage. Some executive flats have 4 AC units.

Condominium (100-200 sqm): Average consumption 600-1,000 kWh/month. Monthly bill: S$180-330. Private condos tend to have higher AC usage due to larger floor areas, multiple bathrooms, and less natural ventilation than HDB corridor-access flats. Central air-conditioning in some older condos is particularly energy-intensive.

Landed property (200+ sqm): Average consumption 800-1,500+ kWh/month. Monthly bill: S$240-500+. Detached, semi-detached, and terrace houses have the highest per-household consumption. Multiple floors, larger AC requirements, pools (pump systems), and garden lighting contribute. Some landed homes exceed 2,000 kWh/month.

Air Conditioning — 30-40% of Your Bill

In Singapore’s year-round tropical climate (average 27-31 degrees Celsius, 70-90% humidity), air conditioning is the dominant electricity consumer in virtually every household. Understanding AC energy costs is essential for bill management.

A typical 9,000 BTU (1 HP) split AC unit with a 5-tick energy rating consumes approximately 700-900 watts during operation. Running 8 hours nightly (the common Singapore pattern for bedroom AC), it consumes approximately 170-220 kWh/month, costing S$50-72 at the SP regulated tariff. An older 2-tick unit of the same capacity may consume 1,100-1,400 watts, costing S$80-115/month for the same usage pattern — 60% more expensive.

Energy-saving strategies specific to Singapore’s climate: Set AC temperature to 25 degrees Celsius (NEA recommendation). Each degree below 25 increases consumption by approximately 7-10%. Use fan mode or standalone fans during less humid nights. Ensure chemical wash of AC units every 6-12 months (S$60-100 per unit) to maintain efficiency — Singapore’s humidity accelerates mold growth in units, reducing airflow. Use timer function to switch off AC 1-2 hours before waking. Consider system 4 or system 5 inverter multi-split AC installations which are significantly more efficient than individual single-split units for homes using AC in 3+ rooms.

The NEA Energy Label (1 to 5 ticks) is mandatory for AC units sold in Singapore. A 5-tick unit saves approximately S$100-200/year versus a 1-tick unit for the same usage. When purchasing, always prioritize energy rating over upfront price — the 5-tick premium pays for itself within 1-2 years.

U-Save Rebates and Government Assistance

The Singapore government provides U-Save rebates to help eligible HDB households with utility bills. Rebates are automatically credited to SP Group utility accounts quarterly. The amount depends on HDB flat type:

1-room / 2-room HDB: S$95 per quarter (S$380/year). 3-room HDB: S$85 per quarter (S$340/year). 4-room HDB: S$75 per quarter (S$300/year). 5-room / executive HDB: S$65 per quarter (S$260/year). These amounts are for the current tranche and may be adjusted annually in the Budget. Additional one-off U-Save Special Payment top-ups may be provided during high-tariff periods or as cost-of-living relief.

Other government assistance includes the SP Group utilities deposit waiver for eligible households, the ComCare utility assistance scheme for low-income families, and the NEA Climate-Friendly Households Programme which provides S$25 e-vouchers for purchasing energy-efficient refrigerators, LED lights, and other green appliances. The programme has been extended multiple times due to strong uptake.

Solar Energy in Singapore — SolarNova and Landed Home Options

Singapore’s small land area and predominantly high-rise housing presents unique solar challenges. However, the government is aggressively pursuing solar under the Singapore Green Plan 2030, targeting 2 GWp of solar capacity by 2030 (enough for approximately 350,000 HDB households).

HDB SolarNova Programme: The largest rooftop solar deployment in Singapore. HDB installs solar panels on the rooftops of HDB blocks, and the generated electricity is used for common area needs (lifts, corridor lighting, water pumps), reducing the service and conservancy charges (S&CC) for residents. Individual HDB flat owners cannot install private solar panels, but they benefit indirectly through lower common area costs. Over 10,000 HDB blocks are expected to have solar by 2030.

Landed property solar: Owners of landed homes (detached, semi-detached, terrace) can install rooftop solar panels. A typical 5-8 kW system costs S$10,000-18,000 installed and generates 6,000-10,000 kWh/year. Singapore receives approximately 4.0-4.5 peak sun hours daily (despite frequent cloud cover and rain). Under the Enhanced Central Intermediary Scheme (ECIS), excess solar electricity can be sold back to SP Group at the prevailing wholesale price (typically 15-25 cents/kWh). Payback period: 4-7 years depending on system size and self-consumption ratio.

For condominium residents, some developments have installed communal rooftop solar as part of MCST initiatives. This trend is growing, particularly in newer developments designed with green features. Check with your condo management for solar feasibility.

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