Top 10 Best Open Electricity Market (OEM) Plans in Singapore (2026 Price Comparison)
The Regulated Tariff Just Dropped... So Why Are You Still Overpaying?
It’s Q1 2026, and the Energy Market Authority (EMA) has just adjusted the regulated tariff down to 29.11 cents/kWh (inclusive of 9% GST). While a dip in prices sounds like good news for those sticking with SP Group, the Open Electricity Market (OEM) is still fighting tooth and nail for your business. The result? Fixed-price plans that are currently sitting comfortably below the regulated rate, often hovering around the 27-cent mark.
But in 2026, price isn't the only factor. With the completion of the nationwide smart meter rollout and the rise of "Carbon Neutral" add-ons, choosing a retailer is about lifestyle as much as it is about savings. Whether you want a free Nintendo Switch 2 with your contract or just want the cheapest possible bill, I’ve crunched the numbers on the top 10 best OEM plans in Singapore right now.
π Quick Look: Top 3 Electricity Plans (Q1 2026)
| Retailer & Plan | Rate (w/ GST) | Best For |
|---|---|---|
| Geneco "Give Us A Try" | ~27.00¢ / kWh | Commitment Phobes (Short 6-month trial). |
| Tuas Power "PowerFIX 24" | ~27.68¢ / kWh | Convenience (Same bill as water/gas). |
| PacificLight "Savvy Saver" | ~26.81¢ / kWh | Lowest Long-Term Rate (24-month lock). |
1. Geneco "Give Us A Try" (6-Month Trial)
Geneco continues to be the most aggressive player in the market. Their "Give Us A Try" plan is perfect if you think rates might drop further later in 2026 and don't want to be locked in for two years. It is essentially a low-risk trial run.
- Rate: ~27.00 cents/kWh.
- Contract: 6 Months.
- Pro Tip: Geneco is famous for their "Power Up Rewards" where they give bill rebates during festive seasons like CNY.
2. Tuas Power "PowerFIX 24"
Tuas Power is the only retailer that allows you to keep receiving a single bill from SP Group. This means your electricity, water, and gas charges stay on one piece of paper (or one app). For busy families who hate managing multiple logins, this convenience is worth its weight in gold.
- Rate: ~27.68 cents/kWh.
- Best For: Landlords and families who want zero admin hassle.
- Bonus: Often comes with free 12-month insurance protection (like Singlife) bundled in.
3. PacificLight "Savvy Saver 24"
If you just want the absolute lowest number on your bill and don't care about bells and whistles, PacificLight is usually the winner. Their 24-month plan consistently undercuts the competition by a fraction of a cent.
- Rate: ~26.81 cents/kWh.
- The Catch: They are strict on contract breaks. Make sure you are staying in your home for the full 2 years.
4. Senoko Energy "LifePower24"
Senoko is a household name for a reason. Their plans are reliable, and their app is excellent for tracking "Smart Meter" data. They are currently running aggressive promotions giving away gadgets (like the Nintendo Switch 2) for long-term sign-ups.
- Rate: ~27.68 cents/kWh.
- Best For: Gamers and gadget lovers looking for a sign-up gift.
5. Keppel Electric "Fixed24"
Keppel is a solid middle-ground choice. They aren't always the cheapest, but they have excellent partnerships. If you are a UOB or DBS cardholder, Keppel often has exclusive recurring bill rebates that effectively lower your rate below the advertised price.
- Rate: ~27.68 cents/kWh.
- Pro Tip: Check their "Eco-Green" options if you want carbon credits included.
6. Sembcorp Power "Sunshine Plan"
This is for the eco-warriors. The Sunshine Plan guarantees that the energy you use is backed by Renewable Energy Certificates (RECs) from solar power. In 2026, with climate consciousness at an all-time high, this is a popular choice for green homes.
- Rate: ~41.34 cents/kWh (Premium for Green).
- Best For: Environmentally conscious households.
7. PacificLight "Save While Sleeping" (Peak/Off-Peak)
With smart meters now in 80%+ of Singaporean homes, Time-of-Use plans are viable. This plan charges you a standard rate during the day but a dirt-cheap rate between 11 PM and 7 AM.
- Off-Peak Rate: ~20.05 cents/kWh.
- Best For: EV owners who charge their cars at night or night owls who run the AC while sleeping.
8. Senoko "LifeSave 12" (Discount Off Tariff)
Fixed plans are great when prices are rising, but if global oil prices crash, you might get stuck paying too much. A "Discount Off Tariff" (DOT) plan floats with the market. Senoko guarantees a 6% discount off whatever the official regulated tariff is.
- Mechanism: Always 6% cheaper than SP Group.
- Best For: Optimists who believe energy prices will fall in late 2026.
9. Geneco "Get It Green"
Unlike Sembcorp's premium green plan, Geneco often bundles carbon neutrality into their standard pricing without a huge markup. It’s the "lite" version of going green—you get the feel-good factor without the 40-cent rate.
- Rate: ~27.80 cents/kWh.
- Best For: Budget-conscious eco-friendliness.
10. PacificLight "Easy Peasy" (No Contract)
Expats and renters, this one is for you. If you are leaving Singapore soon or moving house, you don't want a termination fee. This plan has no lock-in period. You pay a slightly higher daily charge, but you can cancel anytime.
- Rate: ~28.06 cents/kWh + 55¢ daily charge.
- Best For: Tenants with uncertain lease terms.
π‘ Frequently Asked Questions (FAQ)
Q: Is the Regulated Tariff likely to drop further in 2026?
A: It is possible. The tariff is pegged to global natural gas prices. While it decreased by 3% in Q1 2026, energy markets are volatile. Locking in a fixed rate around 27 cents is generally considered a "safe bet" against potential spikes later in the year.
Q: What happens if my electricity retailer goes bust?
A: Don't panic. The Energy Market Authority (EMA) has a "Retailer of Last Resort" framework. Your account will automatically be transferred back to SP Group at the regulated tariff. Your lights will not go out.
Q: Does Tuas Power really bill together with SP Group?
A: Yes. They are currently the only retailer with this arrangement. If you switch to Geneco or Keppel, you will receive two separate bills (one for electricity from them, and one from SP Group for water/gas/refuse).
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