EMA, retailers work to offer more fixed-price plans for businesses

The price plans range from a duration of six months to three years.

The Energy Market Authority (EMA) has worked with Sembcorp Power and Keppel Electric to offer more long-term fixed-price contracts for business consumers.

The increased price volatility in the wholesale electricity market due to the current global energy crunch necessitated the move.

The two retailers agreed to offer fixed-price plans to consumers with an average monthly consumption from 4 megawatt-hours (MWh) to 50MWh. These price plans come with a longer contract duration ranging from six months to three years, with the electricity rate for the two- and three-year contracts priced at 25 cents/kilowatt-hour (kWh).

This is lower than the electricity rate for the Temporary Electricity Contracting Support Scheme (TRECS) of 39.9 cents/kWh for March 2022.