Singapore Energy Market Authority (EMA) announced yesterday that household consumers may soon have the opportunity to buy electricity from different power retailers. The EMA is putting in a scheme that may allow consumers to select from 6 power retailers: Keppel Electric; SembCorp Power; Tuas Power Supply; Senoko Energy Supply, Seraya Energy and SP Services. Consumers are expected to enjoy a cheaper source of power when retailers compete for the consumers' dollars.

Under a new Electricity Vending System (EVS), prices of electricity will be priced at peak and non-peak rates. The scheme will be put to trial by about 200 households for about two years. During the trial, consumers would be asked to test purchasing electricity via using internet or mobile phones. Such advance purchase of electricity, also known as the pre-paid system, is widely used in Hong Kong, China and other parts of the world.

The trial if proven successful, may benefit more than 1.2 million of households in Singapore, who are now only allowed to subscribe power supply from SP Services.