Introduction

With effect from 1st April 2001, a newly set-up Energy Market Authority (EMA) of Singapore is formed to develop and manage the new electricity market. The two gencos, PowerSenoko Ltd and PowerSeraya Ltd have been hived off from Singapore Power Ltd (SP) in the new electricity market structure. At present Singapore Power has ten subsidiary companies including one Transmission and Distribution company (PowerGrid), one public supply company (Power Supply), one gas company (PowerGas), two investment companies (SP International and SP Capital) and five other companies viz SP Systems, SP-Telecommunications, SP-E Services, Development Resources and Power Automation.

At present, plants are dispatched based on competitive bids to the wholesale market, the Pool, to meet loads of end users. In the later part of the year, the power industry in Singapore is expected to operate under the new market rule that is in line with the liberalisation of electricity market in Singapore. This will be followed by the opening up of the retail power market. Existing and new market participants are required to gear up for the challenges and changes in meeting the new business needs.