Singapore power price spikes again in further sign of volatility; price swings could lead to gas shortage

SINGAPORE, July 18 (Bloomberg): Singapore’s wholesale electricity price surged for the second time in a week, a sign of further volatility in the market amid a global power crunch.

The cost of one megawatt-hour jumped to more than S$4,200 ($3,000) for three hours on Sunday night, the longest period of such high prices this year. That’s close to the maximum limit of S$4,500 permitted on the wholesale market, and comes after the price briefly spiked to a similar level last Monday.