Your company can use the futures price from Q3 2016 to Q3 2018 to evaluate a two-year Use electricity futures prices available on the SGX website as a benchmark toĪssess if the prices offered by their retailers are competitive. “Apple will be the first company (in Singapore) to rely entirely on solarĮnergy.” Apple plugs into solar power in Singapore with Sunseap, Straits To run on solar energy, and hope that more companies will take the leap and Motivated to make the switch as we were looking at ways to reduce our carbonįootprint, and Sun Electric’s provision of sustainable energy that is bothĪffordable and clean, made perfect sense.įurthermore, we’re excited to be one of the first companies in Singapore Offered by independent retailers: "We were Green tariffs: Pricing plans which allow consumers to choose the amount of green energy.īooking company, Chope, shared how it has benefited from new retail plans.Rooftop leasing plans: Businesses can lease out their rooftop space for the installation of solar panels.
Examples of new retail offerings include:
There are now even retail packages that use clean energy sources such as solar. The Electricity Futures Market has also enabled new business models to emerge, allowing retailers to offer customised retail packages according to consumers’ needs. Hence the Electricity Futures Market brings about benefits to consumers across the board, and not just to those who participate directly in the Electricity Futures Market. This is reflected in their more attractive bids in a subsequent Town Council tender in Nov 2015 (shown below). Due to the competition from the entry of more players, existing generation companies and retailers are also offering greater discounts to customers. The benefits of more competitive prices are not only confined to electricity consumers who buy from independent retailers. Supply of electricity to Town Councils, 10 Town Councils were able to enjoy 22% discount off SP tariff - anĪdditional 7.5% in savings compared to the most competitive quote from an existing generation company and retailer. This amounts to about $2.1 million savings a year, which will eventually In the Sep 2015 tender results (shown below) for the
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We're also inĭiscussion with retailers like CPvT Energy to install organic photovoltaic "We have benefited with lower energy costs. To shop around for competitive packages from independent electricity retailers. Their entry enhances market competitionĪnd keeps electricity retail prices competitive.įood & beverage retailer Coastes shared that it has been able They are able to do so because the Electricity Futures not linked to any power generation company) are entering How can you or your company benefit from an Electricity Futures Market?Įlectricity retailers (i.e. More information on electricity futures trading can be found on SGX's website.ĮMA had introduced the 3 rd Futures Incentive Scheme for the period of 1 July 2021 to 30 June 2023, for Market Makers to provide Market Making Services for the Electricity Futures Market. Net consumer benefits could amount to about $2.20/MWh. A study commissioned by EMA showed thatīased on the benefits realised by consumers in other jurisdictions, the equivalent Market leads to a more efficient and competitive wholesale and retail market with Based on theĮxperiences of countries like Australia and New Zealand, an Electricity Futures To enhance market competition for the benefit of consumers. The Singapore Exchange (SGX) and the electricity industry, launched theĮlectricity Futures Market in April 2015. The Energy Market Authority (EMA), in partnership with
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