The Straits Times
www.straitstimes.com
Published on Oct 22, 2012
 

Government seeks views on electricity futures market

 
 

A new public consultation will be launched for Singapore's planned electricity futures market.

First mooted in 2006, the market will allow industry consumers to hedge the risk of rising electricity prices by locking in longer-term prices. Independent retailers can also purchase futures contracts and offer more competitive packages to their customers.

The public consultation, which will end next month, was announced by Minister in the Prime Minister's Office and Second Minister for Trade and Industry S Iswaran on Monday during the first day of this year's Singapore International Energy Week.

He said: "Futures markets are already well-established for other commodities such as oil and gas. They have also been introduced for electricity in New Zealand, Australia and the UK."