Why are Singapore Electricity Providers Exiting the Market?

  • 22 Oct 2021

3 electric providers have exited the Singapore Open Electricity Market in quick succession. The first to bow out, in a shock move, was the largest independent retailer iSwitch Energy, which commands a 13% market share as of April 2021. Only 8 out of 12 retailers are currently offering plans for consumers as skyrocketing spot prices cripple their businesses. What are the triggers that are threatening Singapore's electricity market?