The Singapore 2007 Market Briefing Provides a Concise Overview of the Country Power Sector.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c71762) has announced the addition of "Singapore Market Briefings September 2007" to their offering. The Singapore market briefing provides a concise overview of the country power sector, providing up to date information on regulation, generation, transmission, market operation, distribution, and retail supply; a list of market participants in each market segment is provided as well as a list of useful websites. Summary - Singapore's electricity sector restructuring began in 1995 with reorganization and unbundling A regulatory requirement that enables a competing service provider to purchase parts of the incumbent local exchange carrier's network in order to provide service to its customers. See ILEC. of Public Utility Board - Singapore Electricity Pool was created in 1998 to introduce wholesale electricity competition through day-ahead market - IPPs started operating in 2000 - In 2001, Energy Market Authority (EMA (1) (Enterprise Management Architecture) An earlier strategic plan from Digital for integrating network, system and application management. It provided the operating environment for managing a multi-vendor network. ) was established as regulator, and Energy Market Company was formed to manage the Singapore Electricity Pool; ownership of state owned generation assets is separated from transmission and distribution; 250 very large consumers became eligible to choose their own suppliers - New National Electricity Market opened in 2003; electricity is traded on spot basis - Government currently owns directly and indirectly most of the assets in the sector; privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of three generation companies (PowerSeraya, Senoko Power, Tuas Power) will begin in 2007 - EMA is in charge of overseeing the privatization process - Establishment of an electricity futures market futures market, a commodity exchange where contracts for the future delivery of grain, livestock, and precious metals are bought and sold. Speculation in futures serves to protect both the developers and the users of the commodities from unfavorable and unpredictable is part of EMA's strategic plan GENERATION - 6 companies actively engage in generation - SembCorp Cogen was first IPP (Internet Printing Protocol) A protocol for printing and managing print jobs over the Internet using HTTP. Initially conceived by Novell, Xerox and others, the IETF made it a standard in 2000 that includes authentication and encryption. See printing protocol and LPD. in Singapore, a subsidiary of SembCorp Industries SembCorp Industries Limited SGX: U96 is a Singapore area based provider of infrastructure services including utilities, engineering, construction, environmental engineering, supply chain logistics, physical fulfullment and marine engineering. ; Temasek Holdings Temasek Holdings is an Asia investment company headquartered in Singapore. With a multinational staff of more than 300 people, it manages a portfolio of over S$160 billion, or more than US$100 billion, focused primarily in Asia. controls 50% of the parent - Tuas Power, Senoko Power and PowerSeraya were fully owned by Temasek Holdings (Government of Singapore The Government of Singapore is formed by the political party which gains a simple majority in the general elections held in Singapore at least once every five years. It is part of Singapore's political system and supported by the Singapore Civil Service. investment company) - National Environment Agency runs 251 MW waste incineration incineration the act of burning to ashes. plant - Keppel Merlimau Cogen (subsidiary of Keppel Corporation Keppel Corporation Limited SGX: K02 is a Singaporean company with diversified operations, particularly in the real property investment, offshore and marine, and infrastructure sectors. - 21% controlled by Temasek Holdings) with 500 MW capacity (0.1% share) was operational in April 2007 - Island Power (owned by InterGen, acquired by AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group and Ontario Teachers' Pension Plan The Ontario Teachers' Pension Plan (OTPP), commonly referred to as Teachers', is the organization responsible for administering pensions for public school teachers of Ontario. The OTPP also invests the plan's pension fund. ) will be first private generator with 785 MW CCGT CCGT Combined Cycle Gas Turbine CCGT Chicago Center for Green Technology CCGT Combined-Cycle Generating Technology CCGT catalytic combustion gas turbine operational in 2009 - Keppel Seghers will complete 24 MW incineration plant by 2009 - Competition forced generation companies to use more natural gas (from 19% in 2000 to 78% in 2006) - Recently reviewed Singapore Green Plan 2012 encourages cleaner energy source (natural gas) and exploration of renewable energy (solar, biomass) TRANSMISSION & MARKET OPERATION Transmission and distribution network is owned by SP PowerAssets Co., while management and operation of the network is executed by SP PowerGrid Co.; both companies are part of Singapore Power, a corporation wholly owned by state-owned Temasek Holdings - Transmission rates are regulated by EMA; efficiency gains are passed on to consumers; average transmission charge in 2007 was US$2.32 cents/kWh - Transmission interconnection exists with Malaysia's Tenaga Nasional Bhd, however, EMA caps imports at 600 MW; counterparties required to use similar market rules to Singapore - Sellers in the market submit half-hourly bids and system calculates weighted average price to be paid by buyers - The maximum price was caused by a gas supply disruption in December 2006 that led to energy shortfall and load shedding - Vesting contracts are temporarily imposed by EMA on 3 largest generators, forcing them to sell 55% of total demand at long-run marginal cost Marginal cost The increase or decrease in a firm's total cost of production as a result of changing production by one unit. marginal cost The additional cost needed to produce or purchase one more unit of a good or service. of the most efficient technology (CCGT) that accounts for at least 25% of total demand, thus curbing market power and forcing cost-efficient supply; the contracts are voluntary for other small generators DISTRIBUTION & SUPPLY Electricity distribution is managed by SP PowerGrid - Three retailers are subsidiaries of the generation companies; other retailers owned by the same parent companies as their related generation companies - Eligible customers (minimum monthly consumption of 10,000 kWh) may buy electricity from retailers and wholesale market, but not directly from generation companies - Ineligible customers and those eligible customers that choose not to buy electricity from retailers are supplied by SP Services at regulated rates (see table), normally reviewed quarterly - 11,000 consumers (equivalent to 60% of total consumers or 75% of sales) are currently eligible to choose their own suppliers; competition for the remainder is deferred while EMA explores ways to reduce implementation cost - EMA's pilot project on Electricity Vending System that enables retailers to post supply pricing schemes at various point-of-sale and thus saves cost is expected to be completed by 2009 Topics Covered - Singapore - Macro Economics Indicators - Electricity Sector Statistics - Useful Links - Singapore Snapshot - Generation - Transmission & Market Operation - Distribution & Supply For more information, visit http://www.researchandmarkets.com/reports/c71762. |
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