Gencos warm to power futures market scheme
EMA sop attracts some, but whether they will finally come on board is yet to be seen
[SINGAPORE] Keen to get an electricity futures market up and running shortly, Singapore has been dangling "carrots" to the generating companies (gencos) to get them behind the move. These involve some guaranteed additional sales volumes via the vesting contract scheme for electricity supplies here.
This was exactly the same "hook" which got the gencos to ink LNG purchase deals which backed the building of the multibillion-dollar Singapore LNG terminal three years ago.
BT understands that with the incentive from regulator Energy Market Authority (EMA), most, if not all, gencos have indicated their interest in participating in the planned market for forward electricity products. But whether they will finally come on board is still up in the air.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients
Prudential’s Q1 new business profit down 2% at S$743 million