Share this article
The current electricity tariff (electricity price) set by SP Group from January to March 2026 (Q1) has decreased from the previous quarter by 3%.
SP Electricity’s tariff price is currently 29.72 cents/ kWh (with GST).
In quarter 1 of 2026, the SP electricity price was 29.11 cents /kWh (with GST).
The next SP electricity price tariff will be updated when Quarter 2 of 2026 arrives on 1 April 2026.
That being said, the increase in electricity prices in Singapore is also seen and felt across all electricity plans and providers in Singapore. With a lower electricity tariff, Open Electricity Market (OEM) retailers can also afford to lower their electricity plan prices, which will benefit paying consumers like you and me.
As of the time of writing, Singaporeans (and citizens) are free to take their pick from 6 electricity companies in the OEM: Senoko Energy, Keppel Electric, PacificLight Energy, Sembcorp Power, Seraya Energy (Geneco), Tuas Power Supply. These electricity bills are based on HDB 4-room average consumption.
Prices are quite uniform and competitive this quarter. If you're switching over from SP to a new electricity company, you will want to be looking at which company offers you the most attractive referral or new customer promotions.
Senoko Energy LifeSteady24 ($0.2808)
The LifeSteady24 plan offers a guaranteed discount of 1.64 cents/kWh off whatever the prevailing regulated SP tariff is.
- SP Group (Q2 Tariff): 29.72 cents/kWh
- Senoko LifeSteady24: 28.08 cents/kWh (discount of 1.64 cents/kWh)
The current SP Group regulated tariff for Q2 2026 is 29.72 cents/kWh (inclusive of 9% GST). Given an average monthly HDB 4-room bill of $116.62, by switching to the LifeSteady24 plan, you would save approximately $6.44 per month, which totals roughly $154.45 over the 24-month contract period.
The primary advantage of this “Discount Off Regulated Tariff” structure is that you are guaranteed to pay less than the SP Group rate regardless of whether the tariff fluctuates up or down over the next two years. It is a “worry-free” hedge against price volatility while ensuring consistent savings.
Senoko Energy’s History
Originally established in 1977 as a power generation arm of the Public Utilities Board (PUB), Senoko Energy has grown from a critical infrastructure project into one of Singapore’s largest and most technologically advanced energy providers.
Situated at the former British Naval Base in Sembawang, the Senoko Power Station was a marvel of its time, featuring the nation’s first computer-based turbine systems and later becoming the first to transition to clean natural gas in 1992. Following the liberalisation of the energy market and its subsequent divestment to a global consortium in 2008, the company has solidified its position as a pioneer in the industry.
Today, Senoko Energy is widely recognised for its commitment to sustainability and reliability, currently providing approximately 20% of Singapore’s electricity needs.
They are particularly known for being a “green” frontrunner; they were the first to launch a combined cycle plant and continue to lead with initiatives like SolarShare, Singapore’s first online peer-to-peer solar energy trading platform.
Keppel Electric Fixed24 ($0.288)
The Keppel Fixed24 plan offers a smaller immediate saving compared to the Senoko discount plan. However, the value of a fixed plan is “insurance.”
- SP Group (Q2 Tariff): 29.72 cents/kWh
- Keppel Fixed24: 28.80 cents/kWh
The current SP Group regulated tariff for Q2 2026 is 29.72 cents/kWh (inclusive of 9% GST). Given an average monthly HDB 4-room bill of $116.62, you will will save $3.61 per month.
If global energy prices spike and the SP tariff rises to, say, 32 cents/kWh next year due, your Keppel rate stays at 28.80 cents, while the Senoko rate would rise along with the tariff. Ok, ok. No fear mongering here. You know what we mean!
Keppel Electric History
Established in 1997, Keppel Electric holds the distinction of being Singapore’s first home-grown electricity retailer. It is a subsidiary of Keppel Ltd (formerly Keppel Corporation), a global asset manager with deep roots in Singapore’s industrial history—stretching back to a small shipyard founded in 1968.
While many retailers are purely resellers, Keppel Electric is backed by its parent company’s massive infrastructure arm, which operates some of the most efficient power plants in the country.
Keppel Electric is widely known for its “firsts” and its aggressive push into the green energy space. They were the first to successfully import renewable hydropower from Laos into Singapore, a landmark move for regional energy connectivity.
PacificLight Energy Savvy Saver 24 ($0.288)
The Savvy Saver 24 is a fixed-price plan, meaning your rate is locked for two years. At 28.80 cents/kWh, it is just 0.31 cents cheaper than the government’s SP Group electricity tariff.
- SP Group (Q2 Tariff): 29.72 cents/kWh
- PacificLight Savvy Saver 24: 28.80 cents/kWh
The current SP Group regulated tariff for Q2 2026 is 29.72 cents/kWh (inclusive of 9% GST). Given an average monthly HDB 4-room bill of $116.62, you will will save $3.61 per month.
PacficiLight Energy History
Established in 2013, PacificLight Energy is a significant player in Singapore’s power sector, notable for operating one of the most efficient power plants on Jurong Island. It made history as the first power generation facility in Singapore to be entirely fuelled by Liquefied Natural Gas (LNG), reflecting its early focus on cleaner energy sources.
The company is a joint venture between FPM Power Holdings (a partnership of First Pacific and Meralco) and has rapidly grown to supply roughly 10% of Singapore’s total electricity demand.
Their 830MW combined-cycle plant is often cited for its high-tech infrastructure, being the first in the region to exceed 60% efficiency following major turbine upgrades.
In the regular household electricity department, PacificLight is highly regarded for its innovation and focus on sustainable energy. They were a pioneer in the Open Electricity Market and are well-known for their “Savvy Saver” and “Sunny Side-Up” plans, the latter of which incorporates renewable energy certificates.
Sembcorp Power 24M Fixed Price Plan Home ($0.288)
The Sembcorp 24M Fixed plan offers a locked-in rate of 28.80 cents/kWh.
- SP Group (Q2 Tariff): 29.72 cents/kWh
- Sembcorp 24M Fixed: 28.80 cents/kWh
The current SP Group regulated tariff for Q2 2026 is 29.72 cents/kWh (inclusive of 9% GST). Given an average monthly HDB 4-room bill of $116.62, you will will save $3.61 per month.
Sembcorp Power History
Sembcorp Power is the retail arm of Sembcorp Industries, a Singaporean heavyweight that traces its origins back to the 1961 establishment of Sembawang Shipyard. Formed through a high-profile merger in 1998, Sembcorp has evolved from a traditional industrial and marine conglomerate into a global leader in “brown-to-green” energy transition.
In Singapore, they are a dominant force, operating the nation’s largest integrated energy and water hub on Jurong Island and managing massive infrastructure projects like the Sembcorp Tengeh Floating Solar Farm.
As of late 2025, they further cemented their market leadership by acquiring a controlling 50% stake in Senoko Energy, making them an undisputed “gentailer” giant.
Geneco Get It Fixed 24 ($0.288)
At 28.80 cents/kWh, Geneco’s fixed rate is currently aligned with the other major “gentailers” (Sembcorp, Keppel, and PacificLight).
- SP Group (Q2 Tariff): 29.72 cents/kWh
- Geneco Get It Fixed 24: 28.80 cents/kWh
The current SP Group regulated tariff for Q2 2026 is 29.72 cents/kWh (inclusive of 9% GST). Given an average monthly HDB 4-room bill of $116.62, you will will save $3.61 per month.
Geneco History
Geneco is the retail brand of YTL PowerSeraya, one of Singapore’s largest and longest-standing power generators. Its history dates back to 1971 with the completion of the Jurong Power Station, followed by the development of the Pulau Seraya Power Station on Jurong Island—Singapore’s first offshore power plant.
Seraya Energy was formed in 2001 as a private retail arm, originally serving commercial and industrial clients. In 2018, following the full liberalisation of the residential energy market, the brand was relaunched as Geneco.
Geneco prides itself on its 'price match guarantee'. If you chance upon a lower price than what Geneco is offering for such a trial plan within seven working days of signing up, Geneco will refund you the difference for the contract period. As always, read the terms and conditions.
Tuas Power PowerFix 24 ($0.288)
At 28.80 cents/kWh, Tuas Power’s fixed rate is currently aligned with the other major electricity companies (Geneco, Sembcorp, Keppel, and PacificLight).
- SP Group (Q2 Tariff): 29.72 cents/kWh
- Tuas PowerFix 24: 28.80 cents/kWh
The current SP Group regulated tariff for Q2 2026 is 29.72 cents/kWh (inclusive of 9% GST). Given an average monthly HDB 4-room bill of $116.62, you will will save $3.61 per month..
Tuas Power History
Incorporated in 1995 during the initial restructuring of Singapore’s electricity industry, Tuas Power is one of the nation’s “Big Three” power generation companies. Originally a wholly-owned subsidiary of Temasek Holdings, it was acquired in 2008 by the China Huaneng Group, one of the world’s largest power producers.
Operating from its massive 2,670MW station in the Tuas industrial zone, the company provides approximately 20% of Singapore’s total electricity supply. Beyond residential power, they are a heavy hitter in the industrial sector, providing multi-utility services like steam and industrial water to the Tembusu area on Jurong Island, and they even operate a large-scale desalination plant.
EDP (former Sunseap)
Now called EDP Renewables APAC, the former Sunseap offered a range of customisable green electricity plans that allowed you to decide how environmentally friendly you want your energy consumption to be. Its electricity plans do not come with transmission loss charges and security deposits.
Currently, there are no Sunseap home electricity plans available.
Here’s a quick breakdown of Sunseap’s solar-powered electricity plans that they offered previously in 2023.
- Sunseap-One (6 months): 42.12¢ per kWh including GST ($129.95 estimated monthly bill)
- Sunseap-100 (6 months): 45.36¢ per kWh including GST ($139.95 estimated monthly bill)
Union Power
Back in 2023, Union Power offered a 6-month fixed-price plan only. You don’t have to deal with security deposits, registration fees, or transmission loss factor costs when switching to Union Power.
Currently, Union Power is not offering any home electricity plans. Here is a look at their 6 month electricity plan from 2023.
- Union Saver 6 (6 months): 48.60¢/kWh including GST (S$149.94 estimated monthly bill)
SP Services
SP Services is the default energy provider for households in Singapore. If you don’t make the switch to an Open Electricity Market retailer, your home will be powered by SP Services.
SP Services sets the electricity tariff every quarter to reflect the actual cost of electricity. This tariff affects the Open Electricity Market energy providers' price plans regardless of whether they are fixed price plans, discount off regulated tariff price plans, or peak/non-peak price plans.
Which electricity retailer should I choose?
While price is usually the first thing people look at, the six “gentailers” (companies that both generate and retail power) have carved out specific niches. Choosing the right one depends on whether you value bill convenience, maximal rebates, or green credentials.
Here is a breakdown of which retailer to choose based on their unique selling points
| Electricity Company | Best For... |
|---|---|
| Tuas Power | Convenience. Shares the SP Group water bll |
| Geneco | Bargains. Sign-up incentives, price matching |
| Sembcorp Power | Excellent referral program ($20–$50 per friend). |
| Senoko Energy | Discount Off Tariff plans |
| PacificLight Energy | Unique Peak/ Off-Peak plans |
| Keppel Electric | Maybank card holders |