Saturday January 21, 2006

Diamond Energy enters Singapore wholesale electricity market

business-times.asia1.com.sg :

A new player, Canadian-Australian-backed Diamond Energy, has joined Singapore's $3 billion-plus wholesale electricity market. Diamond, a privately-owned boutique energy services company, is the first to secure a 10-year 'wholesale' trading licence from the Energy Market Authority since the electricity industry here was liberalised in 2003. Asked why Diamond has entered a market that is already oversupplied - with total generating capacity easily double peak-hour demand - the managing director of Diamond Energy's Singapore operations, Dallon Kay, said the surplus capacity is in generation, not trading. 'In Singapore our target in the first year will be to try to make some inroads into the reserve market here, worth about S$30 million annually,' Mr Kay said.

'Reserve' is one of three main electricity products traded in the wholesale market. The other two are 'energy' - that is, electricity generated by the generating companies - and 'regulation', which is generation on standby to fine-tune the match between production and load. Reserve capacity is procured from the market to ensure there is standby capacity that can be drawn when there is an unforeseen shortage of supply. Three classes of reserve products are traded. They are primary reserve (8-second response), secondary reserve (30-second response) and contingency reserve (10-minute response onwards).

(2006-01-21 16:56:13 SGT) [Energy] Permalink Comments [1]

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