Singapore generates almost all its electricity from power plants running on natural gas, which is imported via pipelines or tankers. Most of that supply is linked to oil prices, but some is exposed to spot prices, which have surged amid a global shortage of the fuel. - Starpic
SINGAPORE (Bloomberg): Singapore is offering assistance to power retailers and promising safeguards for customers as skyrocketing prices strain its nascent open electricity market.
At least two power providers have announced they will cease retail operations after wholesale prices surged to a record last week. The government is offering help in hedging against volatility for those who want to continue operations, the Energy Market Authority said in a statement on Saturday (Oct16). Retailers can also suspend operations while they strengthen their position, the agency said.
Limited time offer:
Just RM5 per month.
