Commodity market report
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28 Pages

Singapore power markets long-term outlook 2015

Singapore power markets long-term outlook 2015

Report summary

In this H1 2015 full report we assess changes in supply, demand and price. This includes how Singapore's Wholesale Electricity Prices have slumped to operating cost levels at around S$80/MWh. The wholesale price may end up even lower once the Tuaspring plant comes on line by the end of 2015. This therefore raises doubts over the sustainability of the new entrants. Sporadic price spikes since April have offered occasional relief for some companies as it has raised average prices.

What's included?

This report includes 2 file(s)

  • Singapore power markets long-term outlook 2015 PDF - 900.67 KB 28 Pages, 8 Tables, 27 Figures
  • Singapore Power Data.xls XLS - 698.66 KB


The power sector is rapidly transitioning to a cleaner generation mix supported by technological and regulatory changes. Regional markets and structures are adjusting to these new realities with implications on fuel demand, commodity pricing and asset values.

This Power Markets Long Term Outlook report provides a detailed analysis of supply, demand and price fundamentals, as well as the regulatory and market issues affecting regional power markets.

Use this report to examine key issues driving regulatory and economic trends and identify future growth opportunities in regional power markets.

Wood Mackenzie's detailed analysis and reliable market forecasts give you a strong foundation for your investment decisions and corporate planning. Our experienced power research analysts use high-quality proprietary gas, coal and oil markets research to help you unlock power market fundamentals and identify future growth opportunities.

  • Executive summary
    • Data Summary
    • Market Overview
      • Electricity price decreases further in 2015
      • Electricity futures trading begins
      • Spark spread
  • Economic outlook
    • Economic Indicators
  • Policy and regulation
    • Key stakeholders
      • Key offices
    • Energy Policy
      • Competition
      • Fuel mix
      • Pricing
    • Power Market Regulation
      • Market operator
      • Generation
      • Transmission & Distribution
      • Retail
      • Regulation
  • Supply
    • Capacity & reserve margin
  • Costs
    • Breakeven Cost By Technology
    • New-build economics
      • The new-build plant economics calculates the break-even cost of alternative plant technologies and is determined by the capital and operational costs (namely fuel).
      • Screening Curves
      • Sensitivity on Gas Breakeven Prices by Technology
    • Short Run Marginal Cost Analysis
  • Infrastructure
    • In this section
    • Singapore Power Transmission Infrastructure
      • Power Infrastructure - Current
      • Power Infrastructure - Map
      • Power Infrastructure – Planned & Possible
  • Demand
    • Power demand
      • GDP Growth and Power Sales
  • Supply-demand balances
    • Annual generation forecast
    • Plant utilisation (capacity factor)
    • Transmission utilisation across regions
    • Captive power
      • Captive Power Demand
      • Current and Future Captive Capacity
  • Prices
    • End-user tariffs
    • Power Price Forecast
      • Average Annual System Short-run Cost
      • Spark-spread
  • Risks and uncertainties
    • GDP Sensitivity on Gas Demand

In this report there are 35 tables or charts, including:

  • Executive summary
    • Singapore power available capacity
    • Singapore power market balance
    • Singapore gas demand
    • Key changes to power analysis from H2 2014 publication:
  • Economic outlook
    • Q1 2015 GDP Forecast - Singapore
  • Policy and regulation
    • Singapore’s energy policy and regulatory structure
    • Singapore power market value chain
    • Major Energy Legislation
  • Supply
    • Existing and planned capacity with peak load
    • Capacity by plant type and reserve margin
  • Costs
    • Breakeven Cost (LRMC) Based on Technology (2020 prices)
    • New plant economics by technology (LRMC)
    • Singapore 2015 merit order
    • Singapore 2025 merit order
  • Infrastructure
    • Singapore electricity infrastructure
  • Demand
    • Reserve margin with combined cycle plant at licensed capacity
    • GDP growth and power sales growth
    • Power sales
  • Supply-demand balances
    • Grid generation by fuel used (TWh)
    • Grid generation by fuel used (%)
    • Annual capacity factor by plant type (% utilisation)
    • Power import from Malaysia
    • Singapore captive power sales
    • Existing captive power capacity
    • Planned and forecast captive power capacity
  • Prices
    • Wholesale electricity prices
    • Singapore wholesale and regulated retail prices
    • Singapore wholesale prices in S$ and US$
    • Average annual short term generation costs by system and plant type
    • Annual average price forecast
    • Annual average price by period type
    • Annual system price vs plant short run cost
    • Levelised capex vs spark spreads
  • Risks and uncertainties
    • GDP growth assumptions for high and low cases
    • Power demand sensitivity on gas demand
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