Confusion reigns as Singapore's electricity spot prices spike
Market players are confounded by what could have caused it; consumers may have to brace themselves for relatively higher rates in new contracts
Add BT as a preferred source
Singapore
SOMETHING peculiar is going down in Singapore's power market. Electricity spot prices have shot through the roof in the last two days, confounding market players. If the trend keeps up, business margins of hard-hit electricity retailers could wither, and consumers could get "bill shocks".
Singapore-based energy broker James Whistler, the global energy head of Simpson Spence Young, told The Business Times: "Spot prices have been extreme."
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore releases Economic Strategy Review Final Report with more detailed proposals
Ringgit sinks to seven-month low despite record bond inflows as Fed fears dominate
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
