13 Apr '11, 7am

S'pore wholesale electricity demand hits new high in 2010

S'pore wholesale electricity demand hits new high in 2010

SINGAPORE: Singapore's wholesale electricity demand has hit a new high in 2010, with a record trading value of S$7.99 billion. That is a 24 per cent jump from the previous year. The data is from the latest annual report by the Energy Market Company, which operates Singapore's wholesale electricity market. The results were attributed to Singapore's strong economic performance through the year. Average annual demand was at 5,008 megawatts, nearly 9 per cent higher than 2009. The strong demand pushed the average annual Uniform Singapore Energy Price (USEP), the benchmark for wholesale prices, to an all-time high of S$171 per megawatt hour (MWh) in 2010, 16 per cent higher than the previous year. EMC said the rise in USEP corresponded with an 29 per cent year-on-year increase in fuel price. The highest average monthly USEP of S$207/MWh seen in March, was also a record monthly ...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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