Retailer exit from Singapore's electricity market: No need for warning bells

摘要

Earlier in January, electricity retailer Red Dot Power (RDP) announced its exit from the electricity market, citing a "financial challenging period." RDP was one of the 14 electricity retailers that participated in the pilot launch of the Open Electricity Market (OEM) in 2018. Consumers are now questioning whether it is feasible for so many retailers to survive in a small yet highly competitive market like the OEM, and whether they should even bother to switch from SP Group if their electricity providers are on naturally shaky ground.