S'pore Power boosts annual capex for next 5 years to $1.2b

[SINGAPORE] Singapore Power (SP) will be spending about $1.2 billion annually over the next five years on infrastructure to "sustain and ensure" world-class reliability of power and gas supplies here, said its CEO, Wong Kim Yin.

The $1.2 billion figure is higher than what it spent annually in the last five years as SP needs to increase its capital expenditure as work ramps up for mega transmission projects like the $2 billion next-generation power network to handle the higher volumes of electricity generated and transmitted here, he said.

"Furthermore, the $2 billion figure to build the ultra-deep tunnels, for instance, does not include the cost of the transmission cables," he told BT, referring to the extra-high voltage power transmission tunnels which will run 16.5 km east-west and 18.5 km north-south of the mainland.