Commodity Market Report

Singapore power and renewables markets long-term outlook 2019

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15 April 2019

Singapore power and renewables markets long-term outlook 2019

Report summary

Key report themes: 1) Hyflux has yet to resolve its financial woes 2)Average wholesale electricity prices have been recovering but still not enough to improve gencos’ profitability. 3) Capacity payments, if approved, will come as a relief to the struggling Gencos. 4) The Energy Market Authority (EMA) has rolled out a few new policies on intermittency and licensing to encourage the industry to help deploy energy storage systems. - Open electricity market rollout is now complete.

Table of contents

  • Policies approved to encourage adoption of energy storage system
  • Price watch
  • Data summary
    • Key offices
    • Competition
    • Fuel mix
    • Pricing
    • Market operator
    • Generation
    • Transmission and distribution
    • Retail
    • Regulation
    • Vesting contracts
    • LNG vesting contracts
    • Fuel storage and reserves
    • Capacity assurance scheme
    • Demand response
    • Futures market
    • Embedded generation
  • Policy
    • Solar PV
    • COP21 INDC target
  • Breakeven cost by technology
  • New-build economics
  • Screening curves
  • SRMC analysis
    • Power infrastructure – current
    • Power infrastructure – planned and possible
  • Power demand
  • Annual generation forecast
  • Plant utilisation (capacity factor)
  • Transmission utilisation across regions
    • Captive power demand
    • Current and future captive capacity
  • End-user tariffs
    • Average annual system short-run cost
    • Annual average price forecast
    • Spark spread
  • GDP sensitivity on gas demand

Tables and charts

This report includes 39 images and tables including:

  • Singapore power available capacity
  • Singapore power market balance
  • Singapore gas demand
  • Key changes to power analysis from H2 2018 publication
  • GDP forecast – Singapore
  • Breakeven cost (LRMC) based on technology (2020 prices)
  • New plant economics by technology (LRMC)
  • Singapore 2020 merit order
  • Singapore 2030 merit order
  • Singapore 2040 merit order
  • GDP growth and power sales growth
  • Power sales
  • Grid generation by fuel used (TWh)
  • Grid generation by fuel used (%)
  • Annual capacity factor by plant type (% utilisation)
  • Power imports from Malaysia
  • Singapore wholesale and regulated retail prices
  • Singapore wholesale prices in S$ and US$
  • GDP growth assumptions for high and low cases
  • Power demand sensitivity on gas demand
  • Singapore’s energy policy and regulatory structure
  • Singapore power market value chain
  • Major energy legislation
  • Capacity: renewables vs non-renewables
  • Generation: renewables vs non-renewables
  • Capacity: renewables by fuel
  • Generation: renewables by fuel
  • COP21 INDC target
  • Existing and planned capacity with peak load
  • Capacity by plant type and reserve margin
  • Singapore electricity infrastructure
  • Reserve margin with combined-cycle plant at licensed capacity
  • Singapore captive power sales
  • Existing captive power capacity
  • Wholesale electricity prices
  • Average annual short-term generation costs by system and plant type
  • Annual system price vs plant short-run cost
  • Levelised capex vs spark spreads

What's included

This report contains:

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    Singapore power and renewables markets long-term outlook 2019

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    Singapore power and renewables markets long-term outlook 2019

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