Several electricity retailers folded in October as a result of their inability to hedge against price volatility on the spot market. - ST FILE
SINGAPORE (The Straits Times/Asia News Network): Households that buy electricity at wholesale market rates have found themselves with larger-than-usual bills for the month of October.
As the wholesale electricity price fluctuates every half-hour, the higher volatility of the market that month had driven up the average cost of electricity for households on these plans.
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