SINGAPORE - YTL PowerSeraya (YTLPS) has launched an integrated brand for its business and consumer energy portfolio known as Geneco, ahead of the nationwide rollout of the Energy Market Authority's (EMA) open electricity market on Nov 1.
Chan Swee Huat, chief executive of YTLPS, said: "The move to consolidate both our business and consumer portfolios under the Geneco brand signals our intent to be the preferred integrated energy provider for businesses and homes across Singapore. We will do this by having a clear focus on innovation, cost-effectiveness and sustainability, and providing practical energy solutions."
YTLPS is the second-largest power generation company in Singapore with a licensed capacity of 3,100 megawatts (MW). It has been generating power for Singapore for 47 years and has been in business-to-business energy retail for close to 17 years.
Geneco also sees the local electric vehicle (EV) sector as a segment for potential growth, and the newly rebranded entity will work with commercial fleets as well as building owners to roll out an electric vehicle charging network consisting of 1,000 charging points by 2025.
Yeoh Keong Hann, executive director of YTL Power International, said: "By offering bundled electricity and EV charging solutions to customers, this network will serve the needs of a new generation of electric vehicles and cement Geneco's position as owner and operator of the largest electric vehicle charging network by an energy retailer in Singapore."