SINGAPORE: The way you pay your electricity bills will soon be very much like topping up a pre-paid card.
This is possible under a S$3 million pilot scheme that allows small consumers such as households to switch between electricity retailers.
In fact, consumers will only pay for electricity as and when they need it.
Over the next 2 years, the market regulator will be piloting this new system, known as the Electricity Vending System (EVS), that aims at opening up competition in the market for households and small businesses.
There is no monthly bill. Instead, consumers top up credits on a pre-paid card.
"Under the new vending system, there should be more choices for consumers - from whom they want to buy electricity, ... to how much energy they want to use a day," explained Khoo Chin Hean, chief executive of Singapore's Energy Market Authority (EMA).
There are currently five electricity vendors in Singapore - Keppel Electricity, SembCorp Power, Tuas Power, Senoko Energy and PowerSeraya.
Full Story here.
Don't we just like the phrase "opening up competition in the market"? As the saying goes, consumers stands to gain when there are tighter competition. However, current problems suggested that what if forgetful consumers forget to top-up their pre-paid card and the electricity goes off in the nick of time?
This is possible under a S$3 million pilot scheme that allows small consumers such as households to switch between electricity retailers.
In fact, consumers will only pay for electricity as and when they need it.
Over the next 2 years, the market regulator will be piloting this new system, known as the Electricity Vending System (EVS), that aims at opening up competition in the market for households and small businesses.
There is no monthly bill. Instead, consumers top up credits on a pre-paid card.
"Under the new vending system, there should be more choices for consumers - from whom they want to buy electricity, ... to how much energy they want to use a day," explained Khoo Chin Hean, chief executive of Singapore's Energy Market Authority (EMA).
There are currently five electricity vendors in Singapore - Keppel Electricity, SembCorp Power, Tuas Power, Senoko Energy and PowerSeraya.
Full Story here.
Don't we just like the phrase "opening up competition in the market"? As the saying goes, consumers stands to gain when there are tighter competition. However, current problems suggested that what if forgetful consumers forget to top-up their pre-paid card and the electricity goes off in the nick of time?
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