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Sembcorp likely to be hit by UK’s energy price cap, analyst says

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Uma Devi

Uma Devi

Published Tue, Sep 13, 2022 · 12:14 PM
    • Sembcorp's exposure to the UK consists of energy generation and battery storage.
    • Sembcorp's exposure to the UK consists of energy generation and battery storage. PHOTO: SEMBCORP INDUSTRIES

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    SEMBCORP Industries is one company in Singapore that could be impacted by UK prime minister Liz Truss’s energy plan.

    Truss last week announced that the United Kingdom will cap average annual household energy bills at £2,500 (S$4,081) for 2 years starting from Oct 1, in the wake of rising energy prices.

    In response to queries from The Business Times, a Sembcorp spokesperson said this latest development in the UK is “significant” amid a number of other challenges including the impact of the ongoing war in Ukraine and recessionary risks.

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