The Business Times
business-time-50

Power demand zaps new peak amid soaring mercury levels

google-preferred-sourceAdd BT as a preferred source
Yong Jun Yuan

Yong Jun Yuan

Published Thu, May 18, 2023 · 12:00 PM
    • High temperatures appear to have driven energy demand as well as wholesale electricity prices higher from May 7 to 13.
    • High temperatures appear to have driven energy demand as well as wholesale electricity prices higher from May 7 to 13. PHOTO: BT FILE

    AS THE mercury soars, so too has energy demand and electricity prices in Singapore.

    According to data from the Energy Market Company (EMC), demand for electricity surged in the week of May 7-13 to the highest weekly level since the market was established in January 2003.

    The average half-hourly demand for the week rose 2.5 per cent week on week to a high of 6,597 megawatts, while supply increased by just 0.1 per cent.

    Energy marketsEnergy Market AuthorityElectricityClimate change

    TRENDING NOW

    (From left) Dushan county’s ambitious Shuisi Building project and an unfinished, full-scale replica of the Titanic in Daying county.

    Abandoned ‘Titanic’, failing ‘ancient towns’: Why China’s tourism boom leaves white elephants behind

    David Rubenstein, co-founder and co-chairman of The Carlyle Group, warns against “just trying to do deals for the purpose of doing deals, as opposed to getting high rates of return”.

    Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    Analysts believe the initial oil supply shock has already been discounted by investors, including in the Singapore market.

    US-Iran peace deal: S-Reits, aviation stocks, developers on investors’ radar as potential winners

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More