Singapore promises safeguards for power customers

Price surge: A LNG tanker passes boats along the Singapore coastline. The country generates almost all its electricity from power plants running on natural gas, which is imported via pipelines or tankers. — Reuters

SINGAPORE: 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 recently.