Speaking on March 4th 2021 at the Committee of Supply 2021, second Minister for Trade and Industry Tan See Leng said that "over the medium to long run, electricity prices…
Do Electricity Prices depend on Supply and Demand?
The Energy Market Company (EMC) determines the Singaporean wholesale electricity price based on supply and demand. It uses a sophisticated model which takes into account the physical characteristics of the…
The Success of Full Retail Competition – Revisited
On 15 October 2019, the Singaporean Energy Market Authority (EMA) reported on The Success of Full Retail Competition for electricity. About 40% of residential consumers have switched to a new…
The Success of Full Retail Competition
Form April 2018, 108,000 household accounts and 9,500 businesses in Jurong Singapore have the option to buy electricity from a retailer of their choice, or continue buying electricity from SP…
Power Generation Sector Crushed by Massive Overcapacity
"Pressure is mounting in the Singapore power generation sector. Mired by massive overcapacity for the past few years, all generation companies (Gencos) but one have slipped into the red." writes…
Singapore’s Power Supply Cushion – How to solve a Problem like Maria
In the last few years, the Power Generation Sector in Singapore has been struggling along with too much production capacity and too low prices. The Supply CushionSupply cushion is the ratio…
Singapore Carbon Tax is a tax on Consumers
In his Budget speech on 20 February 2017, Finance Minister Heng Swee Keat announced plans to implement a Carbon Tax from 2019. The Government is looking at a tax rate in…
Loss-making Power Generation Sector – the Spark Spread Revisited
We reported previously that the Loss-making Power Generation Sector in Singapore requires Bold Steps to improve its gross profit margin (i.e. Spark Spread) and profitability. Investments in new power plants during 2011-2013,…
Vesting Contracts made Singapore Consumers pay 2.7 Billion SGD over last 4 years
The Energy Market Authority (EMA) introduced Vesting Contracts in 2004 to curb the exercise of market power by the power generating companies (the Gencos). These contracts work well when the market…
Loss-making Power Generation Sector in Singapore requires Bold Steps
Things have gone really well for the Singaporean electricity markets and power generation sector. Since the creation of the Singapore Electricity Pool in 1998, the start of the National Electricity…