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Electricity/Power Grid

4 in 10 S’pore households switched to retailer in Open Electricity Market; many enjoy up to 30% savings

15 October 2019

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Singapore

SINGAPORE – Four in 10 Singapore households have switched to an electricity retailer since the launch of the Open Electricity Market (OEM) in April last year, said the Energy Market Authority (EMA) on Tuesday (Oct 15).

Most of them have found the experience to be positive, an EMA survey showed. The results of the consumer satisfaction survey of more than 10,000 households who have switched was published on Tuesday.

It found that 85 per cent of the respondents were satisfied with the level of service provided by their retailer and 98 per cent found the process of switching retailers easy.

The survey also showed that residential consumers were generally aware of the electricity rate, contract start and end dates, and details of their security deposit. The vast majority or 94 per cent of respondents indicated that their retailer presented its offers accurately.

The EMA said those who switched retailers enjoyed savings of 20 to 30 per cent compared to the regulated tariff.

Consumers that changed electricity retailers in the last year told The Straits Times that they were paying less for electricity and that the process of switching was easy.

Housewife Evangeline Lim, 57, who switched to Sembcorp Power earlier this year, said her electricity bill is about 25 per cent lower than before.

“We used our air-conditioners more last month when the weather was very warm but our bill came to about $250. In the past it would be almost $300,” said Mrs Lim. She lives in a semi-detached house in Bedok with her husband, three of their four children, her mother and a domestic helper.

She signed up for a two-year contract at a road show for Sembcorp Power and received a confirmation letter from SP Group a couple of days later.

“The transaction was smooth. So far, I’ve no complaints. Plus, the cost is so much lower now,” she said.

Author Jimmy Chua, 35, said his move to Ohm Energy in January this year went smoothly and he has not experienced any hiccups since.

The father of one, who lives in a four-bedroom HDB flat in Sengkang, said his electricity bill was typically about $75, about 25 per cent lower than before.

The electricity market in Singapore opened up in April last year with a soft launch limited to residents in Jurong. The OEM was then progressively rolled out to the rest of the country between November 2018 and May 2019.

Previously, SP Group was the primary supplier of electricity to households in Singapore.

The liberalisation of the market has meant that households here have more choices when it comes to energy suppliers. There are now 12 such retailers including Geneco, iSwitch, and Keppel Electric.

But the roll-out has not been without hiccups. In August, The Straits Times reported that there had been some cases of unauthorised sign-ups by electricity retailers. A check on Tuesday found that the Consumers Association of Singapore (Case) had received 181 complaints against electricity retailers as of September.

Case executive director Loy York Juin said consumers are advised to do their research and select a plan that best meets their needs. Consumers are also encouraged to clarify and understand important aspects of the contract such as length of contract, payment terms, and if the plan includes any security deposit, early termination charges, and auto-renewal clauses.

Mr Loy said: “Consumers are also advised against revealing their personal information such as NRIC number and Singapore Power account details if they have no intention of switching to an electricity retailer.”

Under industry rules, third-party applications require an authorisation form. The onus is on the retailers to ensure that proper authorisation is obtained for sign-ups by third parties. Retailers have to comply with EMA’s code of conduct which requires them to obtain consent to enter into a contract and prohibits false or misleading representations. Failure to do so may lead to a licence suspension or financial penalties.

To help consumers make more informed decisions when choosing their electricity retailer, EMA has developed a five-star rating system to reflect the overall satisfaction level for each retailer, based on responses from the consumer satisfaction survey. Ohm Energy, Sunseap Energy and Tuas Power came out tops with four stars each.

In a press statement, chief executive of EMA Ngiam Shih Chun said: “Apart from price, we encourage consumers to consider the satisfaction ratings for retailers in their decision-making. We also hope this rating system will motivate retailers to continually improve their products and services for the benefit of consumers.”

Energy Economy

E-bidding exercise saw savings in RE fund – SEDA

15 October 2019

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Malaysia

PUTRAJAYA, Oct 15 — Sustainable Energy Development Authority Malaysia (SEDA) made significant savings for renewable energy (RE) fund when it introduced e-bidding exercise last year.

It’s chairman Wong Kah Woh said the first biogas e-bidding exercise last year saw an average saving in the RE fund of RM12.949 million a year, while the second exercise saw a saving of RM12.536 million.

“The beautiful part of e-bidding whereby the overall price had been brought down, bringing savings for the RE fund, which eventually used it for others RE and to release more quotas,” he told a media briefing on RE opportunities and achievement in Malaysia, here today.

The effective tariff for the first biogas e-bidding average was 40.55 sen while the second biogas e-bidding was 40.58 sen.

“If compared this average tariff with the tariff prior to e-bidding which was 46.69 sen, we recorded a low and cheaper average tariff in the first and second biogas e-bidding,” he added.

For the first biogas e-bidding, the basic bid tariff from 22.10 sen to 28.14 sen per kilowatt hour (kWh), while the second biogas e-bidding, the basic bid tariff for successful bidders from 23.5 sen to 26.89 sen per kWh, he said.

Following this, SEDA according to Wong also conducted the first e-bidding exercise for small hydro from Sept 2 to Sept 23 following the saving it made in the earlier biogas bidding.

“Total number of bidders as of bid closing was 19 bidders. The list of successful bidders is targeted to be announced in mid to late December this year,” he said adding that the total capacity applied for small hydro was 243.69 megawatts, which is 1.5 times over-subscribed since SEDA only releasing 160 megawatts of quota.

Commenting on the 2020 Budget, Wong said the government through the budget has given a huge boost for the renewable energy industry in Malaysia.

“Especially with the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) which have been extended to 2023. This is what the industry is asking for and this was important especially for SEDA’s efforts for the promotion especially solar energy and solar panels on the rooftop,” he said.

In addition, Wong said tax incentives for companies implementing solar leasing activities with the income tax exemption of 70 per cent for up to 10 years would encourage industry stakeholders and players to offer competitive services.

It would also help Malaysia move towards 20 per cent RE national installed capacity mix by 2025.

Total RE as of the end of last year was six per cent of the national installed capacity mix excluding hydro above 100 megawatts.

Energy Cooperation

Cambodian-Lao coal power deal an environmental worry

15 October 2019

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Cambodia

With plans for cross-border electricity grids growing in the region, Laos is banking on hydropower exports to earn revenue. But a recent deal to also sell coal power generated in Laos to Cambodia has sparked environmental concerns over this trade.

Last month, Cambodia’s state-owned utility firm Electricite du Cambodge signed a 30-year deal to buy coal power from two producers with a combined capacity of 2,400MW situated in Laos’ Sekong province.

The two companies – Xekong Thermal Power Plant Company Limited and TSBP Sekong Power and Mineral Company Limited – will start supplying power from 2024.

Cambodia is trying to maintain its momentum as one of the fastest-growing economies in Asean, even as it grapples with having one of the highest electricity tariffs in the region.

Securing steady supply is a big challenge. Last year, Cambodia’s domestic sources of power had an installed capacity of 2,208MW.

Last year, it used 9,308 gigawatt-hours of energy – 14.5 per cent of that was from Thailand, Vietnam and Laos, according to the Electricity Authority of Cambodia.

One-third came from domestic coal power plants and nearly half was from local hydropower dams. Less than one per cent came from other renewable sources like solar.

But the dependency on hydropower makes the kingdom vulnerable to seasonal variations in water levels and climate change.

This year, it was forced to ration daytime power supply after dry conditions hobbled the operation of its hydropower plants.

Referring to the deal with Laos, General Department of Energy director-general Victor Jona told the Straits Times: “Laos offers a lower price than Thailand and Vietnam at 7.7 US cents per kilowatt-hour. Cambodia is also buying electricity from Thailand and Vietnam, but on a smaller scale, at 10 US cents per kilowatt-hour.

“To ensure energy security in the country, Cambodia needs to diversify sources of electricity, [by using] coal, gas, solar, biomass, hydropower dams and imports from neighbouring countries.”

The coal power deal with Cambodia marks the second such cross-border agreement for Laos, which currently exports coal power to Thailand from its Hongsa power plant in the northwestern province of Xayabury.

Environmentalists warn that given the rapidly falling prices of renewable energy like solar, Cambodia risks paying more than it should. In a tender for a 60MW solar power park this year, Cambodia secured a price of 3.877 US cents per kilowatt-hour – a record low in Southeast Asia, according to the Asian Development Bank.

Julien Vincent, executive director of Australia-based environmental group Market Forces, told ST: “From the point of view of energy security, health, cost and minimising climate and other environmental risks, renewable energy is already a more attractive option than largescale coal power plants delivering transboundary power.”

Laos’ Ministry of Energy and Mines, and Ministry of Foreign Affairs did not reply to ST queries.

Energy Cooperation

AC Energy enters Myanmar RE market

15 October 2019

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Myanmar

AC Energy Inc. has formalized its entry inti Myanmar’s renewable energy (RE) market by forging ties with a Singapore-based company.

In a disclosure on Monday, Ayala Corp. said Yoma Strategic Holdings Ltd. (Yoma Strategic) will form a strategic partnership with its power arm AC Energy.

“Yoma Strategic and AC Energy are looking to establish a 50:50 joint venture that will see AC Energy and Yoma Strategic working together to drive the growth of Yoma Micro Power (S) Pte. Ltd.,” according to the listed conglomerate.

Both entities plan to explore developing about 200 megawatts (MW) of additional RE projects within Myanmar, including participation in large utility scale renewable projects.

As part of the deal, AC Energy and Yoma Strategic signed a binding term sheet that include investing at least $30 million (P1.5 billion) into Yoma Micro Power.

Following the investment and restructuring, planned for 2020, the joint venture is expected to hold at least 50 percent of Yoma Micro Power.

At present, Yoma Strategic holds a 35-percent stake while Norfund and the International Finance Corp. hold 30 percent each in Yoma Micro Power.

Yoma Micro Power develops micro power plants and mini-grids that provide electricity to off-grid rural communities and telecommunications towers in Myanmar.

After the successful implementation of the 10-site pilot project in 2018, Yoma Micro Power is currently rolling out 250 micro power plants by the end of the year and is expected to scale up to more than 2,000 sites by 2023.

“Supply of electricity is one of the largest opportunities in Myanmar and also one of the biggest bottlenecks for economic development,” Yoma Strategic Chief Executive Officer Melvyn Pun said.

“AC Energy’s international expertise in the renewable energy sector and the access to funding will be invaluable as we work together to service this huge, underserved market in Myanmar,” he added.

“This is a very meaningful investment for AC Energy, as we intend to participate in Myanmar’s renewables sector in a significant way,” AC Energy Renewables Chief Operating Officer Patrice Clausse said.

“Our combined expertise, strong financing capabilities and AC Energy’s commitment to shore up presence in the fast-growing region will provide a critical platform for growth in the country,” he added.

The Myanmar government is envisioning its solar industry to contribute up to 5 percent of the nation’s electricity as the country shifts away from hydropower and natural gas sources.

In addition, the Myanmar government’s recent hike in electricity tariffs has also enhanced the attractiveness of solar energy solutions to the commercial and industrial segments.

“There is a need to significantly increase generation capacity and build out last mile distribution infrastructure, which Yoma Micro Power has embarked upon,” Pun stated, adding Myanmar has one of the lowest electrification rates in Asia.

Citing World Bank’s estimates, AC Energy said electricity consumption in Myanmar will grow at an average annual rate of 11 percent until 2030 to achieve complete electrification in all households with an expected investment of about $2 billion per year required.

The latest partnership is aligned with AC Energy’s aspiration of exceeding 5,000 MW of RE capacity and generate at least 50 percent of energy output from renewables by 2025.

AC Energy has over $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region.

On the other hand, Yoma Strategic, listed on the Main Board of the Singapore Securities Exchange Trading Ltd., has a diversified portfolio of businesses in real estate, consumer, automotive and heavy equipment, financial services, and investments in Myanmar.

Ayala shares gained P7.50 or 0.86 percent to close at P877.50 apiece on Monday.

Coal

MGen launches Mauban plant with promise of cleaner coal tech

15 October 2019

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Philippines

COAL TECHNOLOGY is getting cleaner and remains the most cost-efficient choice under current government policy on power generation, which is “technology neutral,” the head of a major power generating firm said.

Rogelio L. Singson, president and CEO of Meralco PowerGen Corp. (MGen) said the company’s next project will be a more efficient ultra-supercritical facility with lower emissions than the 500-megawatt (MW) plant it launched in Mauban, Quezon on Tuesday.

“Right now because the policy of the government is technology neutral… what is the cheapest baseload? Ang pinakamura (The cheapest) is still going to be coal,” he told reporters during the launch.

“We’re hoping that we will be able to build the next level, which is the ultra-supercritical [coal-fired power plant],” he said.

“Iyan ‘yung (That’s the) 1,200 MW that we bid for. Unfortunately, there was a failed bidding.”

He said he expects a second round of bidding, with MGen’s parent firm Manila Electric Co. (Meralco) holding a competitive selection process, or CSP, to arrive at the least-cost power for the distribution utility’s customers.

“So we will participate,” he said. “But having said that, we’re now going through an energy transition where we are committing to 1,000 to 1,200 MW of renewable [energy],” he said. “The problem that we are encountering is that we are facing transmission constraints.”

On Tuesday, MGen formally inaugurated the P56.2-billion San Buenaventura Power Ltd. Co. (SBPL), the country’s first supercritical coal-fired power plant, which now provides additional supply to the Luzon grid.

“The country’s most advanced operational coal plant uses a high-efficiency, low emissions (HELE) coal technology that allows the plant to operate at increasingly higher temperatures and pressures to reach higher efficiencies, while significantly reducing emissions,” the company said in a statement handed out during the launch.

“Similar and more advanced coal plant technologies have been the choice for new commercial coal-fired plants in many countries around the world. As a pioneer of this technology, SBPL is setting the bar higher in operating coal plants in the Philippines,” it added.

SBPL started commercial operations on Sept. 26, and currently generates power for Luzon, which accounts for about 72% of the country’s domestic output, it said. The plant’s cost was partly funded by a P42.15-billion project finance facility, which is said to be the Philippines’ largest all-peso transaction to date.

A consortium of Philippine banks put together the facility.

The power plant was built by a consortium of South Korea’s Daelim Industrial Co. Ltd. and Japan’s Mitsubishi Corp., which MGen described as “experienced engineering, procurement and construction contractors with very strong track records.”

The SBPL plant is a partnership between MGen, with a 51% stake, and New Growth BV, a wholly-owned subsidiary of the Electricity Generating Company of Thailand (EGCO), the first independent power producer in Thailand. It has the state-owned Electricity Generating Authority of Thailand (EGAT) as a controlling shareholder.

“The more important thing is it’s a baseload [plant],” Mr. Singson said, referring to a facility that is always running to meet the base requirement of the power system. “We need baseload. Let’s not fool ourselves.”

During the launch, Energy Secretary Alfonso G. Cusi urged EGCO to invest more in power plant projects in the Philippines on its own since full foreign ownership is allowed.

“We want your investment,” he said.

Agnes VST Devanadera, chairman and chief executive officer of the Energy Regulatory Commission, said the plant has transformed the town of Mauban into a “very vibrant and very progressive community.”

“No plant like this can ever go up without the support of the community,” she said.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc., Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. —

Renewables

Danes map Vietnamese offshore potential

14 October 2019

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Vietnam

The Danish Energy Agency is working with the Vietnamese Electricity and Renewable Energy Authority to map the south-east Asian country’s potential for offshore wind.

Vietnam has a coastline of 3260km, with the sea east of Ho Chi Minh City considered one of the areas in south-east Asia with greatest potential for offshore wind, DEA said.

A delegation from Vietnam is currently visiting Denmark to learn about Danish competencies and solutions within offshore wind, energy planning and energy efficiency, it added.

The visit is a part of a broader cooperation between authorities in Denmark and Vietnam, which from the Danish side, is administered by the Centre for Global Cooperation in the Danish Energy Agency.

On 4 November, the Vietnam Energy Outlook Report 2019 will be published presenting scenarios on how the Vietnamese energy sector can develop in a more green and cost-effective direction, DEA said.

Energy Efficiency

Cost-Efficiency Key to Lift Energy Sector: Minister

14 October 2019

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Indonesia

Jakarta. Energy and Mineral Resources Minister Ignasius Jonan told local oil and gas companies on Monday that they need to increase efficiency to maintain competitiveness and adapt themselves to global changes in the industry.

“When I was first elected [as minister], frankly I was surprised [at seeing] how far behind the energy sector was [compared to other industries]. The president has made it clear we must increase our efficiency, so everyone now must think of how they can produce better products at more competitive prices,” Jonan said at the “Building the Investment Climate for the Energy Sector” discussion in Jakarta on Monday.

The minister pointed out that the oil business has experienced significant global changes and that the local industry has to be able to adapt to them.

He said players in the sector must think about cost-efficiency first and foremost.

“We can’t control oil and gas prices, but we can control cost-efficiency. This sector cannot stand on its own, customers determine the market, not the other way around,” Jonan said.

According to Jonan, the oil and gas market is gradually shifting to the petrochemical sector, while the biggest consumer of oil remains the transportation sector.

Even so, the use of renewable energy in the sector continues to grow, driven by higher production and sales of electric cars, Jonan said.

He suggested the local oil and gas industry should also shift its focus to the petrochemical sector.

“Even those who have already built [oil and gas] refineries; they should still consider moving to the petrochemical industry,” he said.

“Now with the [increased pace of] development in renewable energy, the future is petrochemical. The potential is huge,” Jonan said.

He said the keys to success in the energy sector are efficiency, activity and increased downstreaming.

“I am suggesting we go along with the changes. Japan and China are importing energy products but they can produce them without incurring a deficit. The key is to use energy as efficient as possible, and make the customers buy it,” Jonan said.

The minister said the government is sticking to its target of drawing 23 percent of its national energy consumption from renewable sources by 2025.

This is partly why the government has been campaigning heavily for B30, diesel fuel mixed with 30 percent biodiesel, after the successful introduction of B20 (a 20-80 biofuel-diesel mix) earlier this year.

“It’s not an easy target,” Jonan said.

The minister said Indonesia has an abundance of renewable energy sources but has not made enough effort to develop them.

“Geothermal [energy], for example, requires huge capital and investors still think it’s risky. Drilling costs at least $30 million and sometimes you get nothing or just a small amount. That’s why we still have no geothermal companies,” Jonan said.

“The government will spend Rp 33 trillion on exploration because there are still many resources we haven’t exploited yet,” Jonan said.

Currently, Indonesia has at least 61 billion barrels of untapped oil reserves, the minister said.

Others

Thailand’s Finance Ministry Drives Local Economy with Digital Platform

14 October 2019

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Thailand

Thailand’s Ministry of Finance has revealed it is launching projects that will utilize blockchain technology to enhance government administrative efficiency and assist in revenue collection, asset management and procurement.

The use of blockchain technology is expected to eliminate complicated procedures and enhance transparency for government agencies.

Memorandum to Implement Blockchain Technology

The Ministry of Finance disclosed that on September 27, it had gathered agencies under its administration together with Krung Thai Bank to sign a memorandum of understanding (MoU) on adopting blockchain to improve system infrastructure.

The signing ceremony was held under the theme “MOF Digital Platform is Now” and was aimed at promoting digital technologies to drive the grassroots economy.

Initiating Blockchain Projects in Thailand

Finance Minister Uttama Savanayana said the ministry is driving several initiatives using innovation and new technology, such as the National e-Payment system which will develop the country towards its Thailand 4.0 goal, starting with the PromptPay and welfare card programs.

He also disclosed that some of the government’s 8 initiatives to drive digital transformation include the Government Procurement program or e-GP; the VAT Refunds for Tourists program that will use blockchain and mobile apps to verify tourist identities for international payment and settlement systems; the Electronic Scripless Bond program that will allow the general public greater access to bonds; the Land Assessment program; the Government Healthcare program; and social welfare programs that will implement blockchain to unify data from different agencies to be available from a single platform.

Source: https://www.moneyandbanking.co.th

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