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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published March 31, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Power demand growth in '09 hits record low
But strong recovery in demand, prices in H2 continues into this quarter
By RONNIE LIM
(SINGAPORE) Singapore's electricity demand growth sank to a record low of 0.4 per cent last year - from the usual 3-4 per cent - as the recession ate into the economy.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Power shift: YTL-owned PowerSeraya (above) became the market leader, with a 27.2% market share in 2009, overtaking Lion Power-owned Senoko Energy which dropped to second place with a 26.4% share </TD></TR></TBODY></TABLE>'But the second half saw a strong recovery, with both demand and prices climbing,' Energy Market Company (EMC) chairman Wong Meng Meng says in EMC's just-released 2009 report.
And according to generating company officials, this trend has continued in the first quarter of 2010.
'Demand has continued to be strong in Q1,' said PowerSeraya chief executive John Ng, attributing it to strong economic recovery and hot weather in February.
This has seen peak electricity demand here hit 6,000 megawatts, topping previous highs of 5,800-5,900 megawatts, said Lim Kong Puay, president and CEO of Tuas Power.
EMC's Mr Wong said the power market continues to attract investment, with several new players and new generation facilities registered. Additionally, one incineration plant was transferred and several older generating units and one incineration plant were de-registered.
'All these changes are signs of a healthy market, encouraging competition and the move to more-efficient energy generation,' he said.
Despite electricity demand edging up and supply dipping, the Uniform Singapore Electricity Price (USEP) fell 8.9 per cent to $147.75 in 2009 in line with lower oil prices, the EMC report says. The USEP, plus regulation and administrative charges and other components, make up the wholesale electricity price.
But other electricity prices rose last year, with secondary and contingency reserve prices hitting records.
In terms of competition, the EMC report shows YTL-owned PowerSeraya became the market leader, with a 27.2 per cent market share in 2009. It overtook Lion Power-owned Senoko Energy, which dropped to second place with a 26.4 per cent share. China Huaneng-owned Tuas Power maintained its third position with a 24.3 per cent share.
China Huaneng which reported its FY 2009 results last week, said 'Tuas Power recorded the best annual operating results since its incorporation, despite the complicated market environment, and contributed to the group's profit growth'.
EMC said: 'Seraya Energy continued to increase its retail market share, while Senoko Energy and Tuas Supply continued to shed their shares. After holding the smallest market share since 2003, Keppel Electric surpassed Sembcorp Power in 2009.'
Playing down the market share changes, generating company officials said financial performance is more important.
'A higher market share may mean a generator is more heavily contracted (to customers), but it has to manage market risk too,' one official said.
A total of $6.46 billion of electricity was traded here in 2009, down 6.6 per cent from 2008, largely due to the lower wholesale prices.
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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published March 31, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Power demand growth in '09 hits record low
But strong recovery in demand, prices in H2 continues into this quarter
By RONNIE LIM
(SINGAPORE) Singapore's electricity demand growth sank to a record low of 0.4 per cent last year - from the usual 3-4 per cent - as the recession ate into the economy.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Power shift: YTL-owned PowerSeraya (above) became the market leader, with a 27.2% market share in 2009, overtaking Lion Power-owned Senoko Energy which dropped to second place with a 26.4% share </TD></TR></TBODY></TABLE>'But the second half saw a strong recovery, with both demand and prices climbing,' Energy Market Company (EMC) chairman Wong Meng Meng says in EMC's just-released 2009 report.And according to generating company officials, this trend has continued in the first quarter of 2010.
'Demand has continued to be strong in Q1,' said PowerSeraya chief executive John Ng, attributing it to strong economic recovery and hot weather in February.
This has seen peak electricity demand here hit 6,000 megawatts, topping previous highs of 5,800-5,900 megawatts, said Lim Kong Puay, president and CEO of Tuas Power.
EMC's Mr Wong said the power market continues to attract investment, with several new players and new generation facilities registered. Additionally, one incineration plant was transferred and several older generating units and one incineration plant were de-registered.
'All these changes are signs of a healthy market, encouraging competition and the move to more-efficient energy generation,' he said.
Despite electricity demand edging up and supply dipping, the Uniform Singapore Electricity Price (USEP) fell 8.9 per cent to $147.75 in 2009 in line with lower oil prices, the EMC report says. The USEP, plus regulation and administrative charges and other components, make up the wholesale electricity price.
But other electricity prices rose last year, with secondary and contingency reserve prices hitting records.
In terms of competition, the EMC report shows YTL-owned PowerSeraya became the market leader, with a 27.2 per cent market share in 2009. It overtook Lion Power-owned Senoko Energy, which dropped to second place with a 26.4 per cent share. China Huaneng-owned Tuas Power maintained its third position with a 24.3 per cent share.
China Huaneng which reported its FY 2009 results last week, said 'Tuas Power recorded the best annual operating results since its incorporation, despite the complicated market environment, and contributed to the group's profit growth'.
EMC said: 'Seraya Energy continued to increase its retail market share, while Senoko Energy and Tuas Supply continued to shed their shares. After holding the smallest market share since 2003, Keppel Electric surpassed Sembcorp Power in 2009.'
Playing down the market share changes, generating company officials said financial performance is more important.
'A higher market share may mean a generator is more heavily contracted (to customers), but it has to manage market risk too,' one official said.
A total of $6.46 billion of electricity was traded here in 2009, down 6.6 per cent from 2008, largely due to the lower wholesale prices.
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