Power provider Ohm Energy said on its website that it had exited the retail electricity market in Singapore on Friday, making it the third company to do so over the past few days.
It said it had quit because the pricing of its plans, which are lower than regulated tariff, had become unsustainable due to the volatile electricity market.
iSwitch Energy, one of Singapore's largest independent electricity retailers, and SilverCloud Energy, which supplies power to commercial, industrial and residential buildings, have also announced their exit from the Singapore market.Company sources told Reuters earlier this week that Diamond Electric and Best Electricity Supply have stopped accepting new customers, with Diamond Electric in the process of handing over existing term contracts to SP Group.
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