StarHub Eyes Singapore Open Electricity Market
The two companies will collaborate on areas including customer service, billing and sales and explore opportunities in the smart energy and IoT segments.
The Singapore government is working to liberalize the retail electricity market by the second half of the year, starting with a soft launch in Jurong.
Under the new arrangement, consumers will be free to seamlessly switch electricity retailers according to prices offered and usage patterns with no disruption to supply.
StarHub plans to tap into the new market with its collaboration with Sunseap. Combining StarHub’s telecoms presence with Sunseap’s clean energy portfolio will allow the companies to bundle services ranging from mobile, pay TV, broadband and electricity into single packages.
StarHub meanwhile plans to divert 5% of its profits from the business into a clean energy fund used to drive environmental conservation initiatives.
The first two plans to be jointly offered by the company include a 100% clean energy plan at no additional cost, and a 5% clean energy plan offering a 20% discount off regulated electricity tariffs.
““Working together with Sunseap, we are excited to offer households a compelling way to live a lower carbon footprint lifestyle using the Sun’s energy;” StarHub CMO Howie Lau said.
“Clean energy has been gaining ground in Singapore and we hope to further energise this green movement with the launch of our StarHub Clean Energy Fund.”