Singapore
PRICE spikes in the wholesale electricity market just as competition heats up in the Open Electricity Market (OEM) have left independent retailers crying foul, but power generation companies attribute the increases to unusually high demand.
The situation brings into sharp focus the need for independent retailers - who have no power generation arm - to hedge their electricity price exposure in a traditionally volatile market.
"We've seen some abnormal movements in the pool price," a senior executive at an independent retailer told The Business Times, referring to the wholesale electricity price, also known as Uniform Singapore Energy Price (USEP).
He noted that the price, which averaged...