Electricity Terms Glossary

kWh (kilowatt-hour)

The standard unit electricity is billed in — the energy used by a 1,000-watt appliance running for one hour. Your monthly bill is based on how many kWh you consumed.

SP tariff (regulated tariff)

The default, GST-inclusive rate set for Singapore's electricity supply, reviewed quarterly by SP Group. See our full guide.

Open Electricity Market (OEM)

The scheme that lets every Singapore household choose their electricity retailer instead of buying only from SP Group at the regulated tariff.

Retailer

A licensed company that sells electricity plans under the OEM — for example Geneco, Senoko Energy, or Keppel Electric. SP Group remains the grid operator regardless of which retailer you choose.

Fixed-rate plan

A plan that locks in one cents-per-kWh rate for your entire contract term, unaffected by later changes to the SP tariff.

Discount off tariff plan

A plan priced as a percentage (or flat cents) discount off the current SP tariff — your rate moves automatically whenever SP Group updates the tariff.

Peak / off-peak plan

A plan with two different rates depending on time of day — typically a higher rate during weekday daytime hours and a lower rate at night and on weekends.

Effective rate

The all-in cents-per-kWh rate a plan actually works out to once any discount is applied against the current tariff — the number that's directly comparable across plan types.

Contract term / lock-in period

The minimum number of months you agree to stay on a plan. A contract of 0 months means there's no fixed lock-in.

Early termination fee

A charge some retailers apply if you switch away or cancel before your contract term ends.

GST-inclusive

Singapore's Goods and Services Tax, already factored into the quoted rate — the rates shown on this site and by retailers are GST-inclusive unless stated otherwise.

Switching

Moving your electricity account from one retailer to another (or back to SP Group's regulated tariff). Handled by the new retailer — no rewiring or supply interruption involved.

For a deeper dive on the two main pricing structures, see our fixed vs discount-off-tariff guide, or the full SP tariff guide.