Singapore’s Open Electricity Market (OEM) is a change maker in the nation’s energy market liberalisation efforts. Consumers, who previously bought electricity from the SP Group at regulated tariff, are now entitled to the choice of buying electricity from any retailer that suits them. This flexibility will be extended to all geographical zones in Singapore by May 1, 2019.

If you plan to switch to another retailer, it is wise to learn about the metering options which monitors your electricity consumption pattern and load.

How do Meters Differ?

There are two types of electricity meters available in Singapore.

SLRP (Static Residential Load Profile) cumulative meters and AMI (Advanced Metering Infrastructure) smart meters. These meters differ in the reading time, that is, how frequently they are read. While the former is already a common fixture in most residential premises, the latter is a relatively new concept that has not seen widespread adoption before the commencement of the OEM.

Either way, SP Group will be the body providing metering-related services and data readings of electricity consumption.

What are Cumulative Meters?

Cumulative meters, also known as SLRP meters, are read once every two months by SP Group. Most residential areas already utilise them for their billing. For alternate months in which the readings are not taken, SP Group estimates the electricity usage of a household using an Energy Market Authority-approved methodology.

This is done by multiplying the average daily electricity consumption for the last two readings, with the number of days in the current billing period (e.g. 28 days in February 2019).

What are Smart Meters?

Smart meters also referred to as AMI meters, are capable of measuring electricity consumption at a half-hourly basis. With the introduction of smart meters, it is not necessary to manually read the meters and estimate energy consumption; readings are more accurate. Consumers utilising smart meters can view, as well as, download their half-hourly energy consumption patterns too. Based on one’s voltage intake level, two types of AMI meters are available – single-phase and three-phase, in which the earlier is more suited for household settings.

What are the next steps for Households and Businesses?

1. Remain with the existing cumulative meter: Homeowners and businesses may continue with their existing cumulative meters. They will be manually read every two months by SP Group as usual.

2. Install a smart meter: Consumers may get a smart electricity meter installed to keep track of their half-hourly energy consumption. This, however, requires the consumers to pay a one-time installation fee of $40 (before GST). Same applies to businesses.

Switching to another metering system is not compulsory, however AMI meters provide exact readings, instead of estimations. Doing such allows one to deep-dive into their consumption pattern and provide data on how to manage it. This is done by accessing the Open Electricity portal or SP Group Customer portal.

A key benefit of the OEM is in its ability to provide competitive prices to consumers. To make the most out of this benefit, one must carry out price comparisons and properly understand the billing process – which includes metering systems.

Now that you know more about electricity meters, start your switch to a leading retailer by learning about their different price plans.