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EMA to cap wholesale power prices from Jul 1; but checks show fewer companies rely on wholesalers

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Tessa Oh

Tessa Oh

Published Mon, Jun 19, 2023 · 07:29 PM
    • The cap, which will take effect from Jul 1, will be calculated using a formula that includes the long-run marginal cost of generation capacity, says the Energy Market Authority.
    • The cap, which will take effect from Jul 1, will be calculated using a formula that includes the long-run marginal cost of generation capacity, says the Energy Market Authority. PHOTO: BT FILE

    THE Energy Market Authority (EMA) will introduce a temporary price cap on wholesale electricity prices to prevent huge swings in electricity prices.

    The cap, which will take effect from Jul 1, will be calculated using a formula that includes the long-run marginal cost of generation capacity, EMA said in a paper published on its website on Friday (Jun 16).

    The move from EMA comes as Singapore households and businesses face sky-high electricity costs amid the global energy crisis due to the Russia-Ukraine war.

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