Causes for Exit of Electricity Retailers from Singapore Consumer Market

75 Mr Desmond Choo asked the Minister for Trade and Industry (a) what are the causes for three electricity retailers to close operations within a short period of time; (b) what is the current financial viability of the existing retailers; and (c) whether there is a need to review the financial criteria for future licensing purposes.

Mr Gan Kim Yong: I thank the Member for his question. I have addressed it in my reply to Question Nos 11 to 30 for oral answer on the Order Paper for 1 November 2021. [Please refer to "Support for Industry and Consumers Given Higher Electricity Prices and Recent Exit of Electricity Retailers", Official Report, 1 November 2021, Vol 95, Issue 41, Oral Answers to Questions section.]