The energy market authority regulates the electricity tariff singapore. They are revised quarterly to reflect the actual cost of electricity. Some services buy electricity on behalf of customers and pay the generation companies, transmission licenses, and other market players based on the rates of the cost components as approved by EMA.
Type of cost components in the electricity tariff.
- Market administration and power system operation fee paid to energy Market Company and power system operator – this price is reviewed yearly to get better fees for running the power wholesale marketplace and electricity system.
- Market support services fee paid to services– this price is reviewed yearly. This is to better the billing fees and enter reading, facts management, and retail marketplace structures in addition to marketplace improvement initiatives.
- Network cost paid to power assets– this price is reviewed yearly to get a better fee for transporting power via the electricity grid and the manpower and preservation fees, in addition to a capital fee of the stations.
- Energy cost paid to the technological companies– this thing is adjusted quarterly to mirror adjustments within-side the fee of gasoline and electricity technology. The gasoline fee is for imported herbal gas, tied to grease charges through industrial contacts. The fee for electricity technology covers, in particular, the fees of running the electricity station.
In the open market, electricity retailers are encouraged to innovate and offer consumers more excellent choices and flexibility.