How To Read Your Electricity Bill in Singapore (SP Group vs Retailer)

If you’ve ever stared at your electricity bill wondering what half the charges mean, you’re not alone. In Singapore, electricity bills can feel confusing, especially with layered charges, changing tariffs, and different formats depending on whether you’re with SP Group or an electricity retailer.

This confusion exists largely because customers in Singapore are given a choice. You can stay with SP Group or switch to one of many electricity retailers under the Open Electricity Market (OEM). The electricity still comes from the same national grid, but bills don’t always look the same depending on who bills you.

This guide breaks your bill down step by step from tariff components to solar export credits in clear, plain English. If you’ve ever searched “how to read electricity bill in Singapore”, this article walks you through exactly what to look for.

Understanding your bill matters. It helps households and organisations track usage accurately, avoid surprises, and clearly see how solar reduces monthly electricity costs. If you’ve installed solar or are considering it, this guide will also show you where savings appear on your bill and how to verify that your system is delivering real financial returns.

Understanding How Electricity Billing Works in Singapore

Singapore operates under the Open Electricity Market (OEM), which allows customers to choose how they purchase electricity either directly from SP Group or through a licensed electricity retailer.

In Simple Terms: Your Electricity Billing Options

In Singapore, there are three common ways your electricity can be priced and billed:

1. SP Group (Regulated Tariff)

• Electricity is purchased directly from SP Group
• Prices follow a regulated tariff, reviewed quarterly
• SP Group issues a single monthly bill
• This applies to customers who remain on SP’s default electricity plan

2. Electricity Retailer (OEM Plan)

• Electricity is purchased from a licensed electricity retailer
• Prices depend on the retail plan you sign up for (fixed, discounted, or wholesale-linked)
• The retailer issues your electricity bill
• Solar export credits are shown on a separate SP Utilities export statement

3. Wholesale Electricity Market

• Electricity prices follow half-hourly wholesale market rates
• Prices can fluctuate month to month based on supply and demand
• Billing may be issued by SP Group or a retailer, depending on your setup
• This option is typically used by higher-usage customers or those on wholesale-linked plans

Regardless of which option you’re on, all electricity flows through the same national grid operated by SP Group. The difference lies in how prices are set and how charges appear on your bill.

How To Read Your SP Group Electricity Bill

(For non-contestable customers billed directly by SP Group)

SP bills are comprehensive and predictable once you know what each section means.

Solar reduces the amount of electricity drawn from the grid. Because most electricity charges are calculated on a per-kWh basis, solar generation lowers both energy charges and grid-related charges tied to consumption.

1. Electricity Tariff

The regulated SP tariff bundles several components into a single per-kWh rate:

• Energy cost
• Network charges
• Market Support Services (MSS)
• Carbon tax

The tariff is reviewed quarterly. Since these charges are applied per kilowatt-hour consumed, solar reduces the total tariff payable by lowering how much electricity is imported from the grid.

2. Electricity Consumption (kWh Used)

This section shows:

• Monthly electricity usage
• Comparisons against similar households or premises
• Historical usage trends

Where electricity use is concentrated during the day, solar generation often offsets a larger portion of grid consumption, making reductions easier to spot.

3. Solar Export Credits (If You Have Solar)

SP bills show:

• Net export (kWh)
• Export rate (regulated or USEP-linked)
• Total export credit

These credits are automatically offset against your bill.

4. Other SP Charges

Charges such as MSS, network charges, metering fees, and GST apply regardless of solar. Once you understand these, SP bills become very consistent and easy to track.

SP Contestable Customers (Wholesale Market Pricing)

Some customers, typically those with higher electricity usage remain billed by SP Group but purchase electricity at wholesale market prices instead of the regulated tariff.

1. Wholesale Market Rates

Instead of a fixed tariff:

• Electricity is priced at half-hourly wholesale rates
• Prices fluctuate based on supply and demand

Rates can be lower or higher than the regulated tariff depending on market conditions, so monthly bills may vary.

2. Solar Export Credits (If You Have Solar)

For SP contestable customers:

• Exported electricity is credited based on the Uniform Singapore Energy Price (USEP) at the time of export
• Both consumption charges and export credits fluctuate with market prices

As a result, solar savings may vary month to month, especially during periods of volatile electricity prices.

How To Read Your Electricity Retailer Bill

(For customers on OEM plans)

Retailer bills vary in layout, but the structure is broadly the same.

OEM Bill Reading – Part 1: Your Retailer Electricity Bill

This bill shows:

• Your electricity plan rate (fixed, discounted, or wholesale-linked)
• Your electricity consumption from the grid
• Pass-through charges collected on behalf of SP Group

Solar reduces this bill by lowering the amount of electricity you import from the grid.

Example: Electricity Retailer Bill (Wholesale Pricing)

Some retailer plans are linked to wholesale market prices rather than fixed rates.

Under these plans:

• Electricity charges fluctuate based on half-hourly wholesale prices
• Monthly bills may vary even if consumption remains similar

Solar still reduces grid imports, but both consumption charges and export values may fluctuate with market conditions.

OEM Bill Reading – Part 2: Your SP Utilities Export Statement

Solar export credits never appear on retailer bills.

Instead:

• SP Group issues a separate Utilities export statement
• Export credits are calculated using USEP
• Credits are presented as a simplified export rate for the billing period

These credits offset your overall electricity costs, even though they appear on a separate document.

SP vs Retailer Bill: What’s The Actual Difference?

How Solar Shows Up Differently on SP vs Retailer Bills

• SP customers: Lower consumption and export credits appear on the same bill (unless on wholesale pricing)
• Retailer customers: Lower consumption appears on the retailer bill, while export credits appear on the SP statement

This can affect how savings look month to month, but not the total savings received.

Sample Monthly Breakdown: SP vs Retailer (With Solar)

Bottom Line: SP or Retailers?

Electricity bills may look complex at first, but once you understand who handles what between SP Group and electricity retailers, the structure becomes clear. Solar simply reduces your grid usage and earns you export credits administered by SP Group.

When you know which parts of the bill solar actually affects, you can track your savings with confidence. For higher-usage accounts in particular, your bill becomes the clearest proof that your solar system is delivering real financial returns.

Curious how much you could save with solar? Get your free quote, or chat with us on WhatsApp for personalised guidance.

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