Asia’s first electricity futures market to be launched in Singapore
Singapore will launch an electricity futures market in the second half
of next year, announced S Iswaran, Singapore ’s Second Minister for
Trade and Industry, at the Singapore Energy Summit on October 28.
Singapore will launch an electricity futures market in the second half
of next year, announced S Iswaran, Singapore ’s Second Minister for
Trade and Industry, at the Singapore Energy Summit on October 28.
The proposed market, the first in Asia, will support the trading of electricity products in the future at specified prices and will help big consumers of electricity — typically malls and companies in the manufacturing and pharmaceutical sectors — better manage price volatility by allowing them to secure longer-term prices, he said.
According to the Minister, six companies have indicated interest in becoming makers of the new electricity futures market. They are working with Singapore Exchange to launch a trial of the electricity futures market next year, to allow the power-generation companies to build up competencies and experience in trading.
Commercial discussions for the development of the futures market are in progress, Iswaran added.-VNA
The proposed market, the first in Asia, will support the trading of electricity products in the future at specified prices and will help big consumers of electricity — typically malls and companies in the manufacturing and pharmaceutical sectors — better manage price volatility by allowing them to secure longer-term prices, he said.
According to the Minister, six companies have indicated interest in becoming makers of the new electricity futures market. They are working with Singapore Exchange to launch a trial of the electricity futures market next year, to allow the power-generation companies to build up competencies and experience in trading.
Commercial discussions for the development of the futures market are in progress, Iswaran added.-VNA
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