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 halfof next year, announced S Iswaran, Singapore ’s Second Minister forTrade and Industry, at the Singapore Energy Summit on October 28.
The proposed market, the first in Asia, will support the trading ofelectricity products in the future at specified prices and will help bigconsumers of electricity — typically malls and companies in themanufacturing and pharmaceutical sectors — better manage pricevolatility by allowing them to secure longer-term prices, he said.
According to the Minister, six companies haveindicated interest in becoming makers of the new electricity futuresmarket. They are working with Singapore Exchange to launch a trial ofthe electricity futures market next year, to allow the power-generationcompanies 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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