Global power cost surge wrecks Singapore's electricity market


SINGAPORE, Oct 18 (Reuters): The global energy crunch which has sent natural gas prices to record highs and caused power shortages in many parts of the world is now spilling over to the island state of Singapore which is dependent on gas for power generation.

Three energy providers in Singapore are exiting the market, and according to company sources at least two others have stopped accepting new clients amid rocketing wholesale energy prices that retailers are unable to pass on to customers.

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