Singaporeans are increasingly aware of the new Open Electricity Market, an initiative aimed at liberalizing the retail power market in Singapore. Nearly 9-in-10 Singaporeans (88%) are aware of the change, marking an increase of 27% since April this year.
Just over 7-in-10 Singaporeans (72%) also claim to be aware of new retailers, in addition to long term incumbent, Singapore Power. At this stage, well-known brands like Sembcorp Power and Keppel Electric are dominating consumer recall.
1-in-10 Singaporeans surveyed claim to have switched providers already, while 1-in-4 (25%) say they are planning to. Expect a lot more activity in this consumer space in 2019.