Track: High School STEM Competition

Abstract

The Open Electricity Market in Singapore (OEM) was soft launched in April 2018 by the Energy Market Authority (EMA). As a form of further deregulation in Singapore’s electricity industry, the OEM was established to further promote competition and innovation in the power industry. Apart from the default retailer, SP Services Ltd, households are given the opportunity to select their preferred electricity retailer. With the increasing competition from growing retailers, this study analyses and predicts the market shares of the available retailers using descriptive statistics and creating a multiple linear regression model. Out of the identified six retailers, this study is able to obtain predictive modelling equations for SP Services, Keppel Electric and Senoko Energy Supply’s market shares through elimination of variables of no statistical significance.