Singapore energy regulator freezes new entrants, mulls rules to minimise power retailer failures
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Anita Gabriel
SINGAPORE’s energy market regulator is mulling tightening licensing conditions for electricity retailers that may require players to raise their physical hedging and capital positions and possibly even, provide performance bonds, after last year’s staggering spikes in spot electricity prices drove nearly half a dozen of them to close shop.
The Energy Market Authority’s (EMA’s) review of the electricity retail licensing regime to improve the resiliency of retailers and further protect consumers may also require retailers to conduct regular financial stress-testing, EMA’s director of market development and surveillance Jesse Chin told The Business Times.
“We aim to complete this review by the end of the year. Pending the completion of our review, EMA has not approved any new retailer licences,” Chin said, adding that the regulator was studying the matter and drawing lessons and insights from other jurisdictions and relevant sectors.
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