Singapore Power Market - DBS Research 2023-06-20: Chance To BUY On Power Surge

• Singapore has ~12.3GW of electricity generation capacity as at Mar-2022 based on EMA statistics. Of which, the top 5 players (Senoko Energy, YTL PowerSeraya, Tuas Power, Sembcorp Cogen, Keppel Merlimau Cogen) accounted for 79% of the market.
• As ~70% of capacity is foreign-owned and given that the market has been very tough for a prolonged period pre-COVID, attracting new investments from these foreign players could prove challenging, in our view.

Singapore power market tightness to persist.

• - Read this at SGinvestors.io -
• New investment cycle has just kick-started in 2023 with Sembcorp and Keppel Corp committed to build two units of 600MW hydrogen ready power plants, representing ~10% of current total capacity, that will come online by 2026.
• - Read this at SGinvestors.io -

Temporary price cap (TPC) to prevent huge volatility in electricity prices.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

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