News Clipping Archive - Page 1198 of 1232

Electricity/Power Grid

How Singapore’s dynamic digital comparison platform Voltz is set to transform the electricity market

16 November 2018

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Singapore

Its real-time electricity pricings offer complete transparency, and ultimately, more savings for consumers.

An essential player in the launch of the Open Electricity Market (OEM) this month is Voltz Energy (Voltz).

Its online price comparison platform allows consumers and electricity retailers to make informed choices and bid — using real-time data.

Even before the full liberalisation of the electricity market, Voltz has already gained considerable traction in the commercial sector. Businesses, from small and medium-sized enterprises to manufacturing industries and international schools, have utilised Voltz’s platform to receive the best rates through a real-time reverse auction.

Designed to establish greater value across the electricity retail value chain, Voltz’s reverse auction feature encourages open competition among retailers as they bid for consumer electricity accounts.

This simplifies and reduces the costs of acquisition for retailers and translates to even greater cost savings for consumers.

To amplify its real-time reverse auction capabilities, Voltz has rolled out the residential group auction feature — an industry first.

Here are three ways that Voltz can make transactions simpler and more cost-effective in the OEM:

1. It allows consumers to get the best deals

Being a dynamic, customisable and customer-focused platform that displays the latest real-time electricity pricing information, Voltz ensures that customers are able to receive better rates as compared to retailers’ published rates.

Using its group auction feature, residential consumers can join a group with their preferred price plan types and band together to achieve a higher level of energy usage for better deals.

This actively encourages licensed retailers to re-evaluate their margins as they attempt to outbid one another to achieve the group acquisitions. Due to greater economies of scale and a higher sales volume, retailers can pass more savings to consumers and also enjoy a lower cost of acquisition.

2. Its real-time pricings and updates result in an equal playing field

Voltz’s group auction feature enables residential consumers to join a group with their preferred price plan types and band together to achieve a higher level of energy usage for better deals. PHOTO: VOLTZ ENERGY

Using Voltz’s residential group auction feature is simple and free. Signing up takes less than two minutes and can be done in the comfort of your home.

By joining its residential group auction, customers can view customised plans side by side, eliminating the need to independently source and compare bespoke plans offered by retailers or pushy sales agents.

In addition, electricity retailers will publish their latest rewards and rates on the platform. Likewise, Voltz will display the licensed retailers’ critical terms and hidden charges on the platform.

Even if they are on the go, customers will be able to watch the auction happen and receive real-time notifications when retailers offer bids.

With readily available and transparent information, all parties are assured of a reliable and hassle-free comparison experience.

3. It offers a secure and seamless auction and transition experience

As a preventive measure against unauthorised auction initiations and false data entries, Voltz will collect a refundable minimal amount based on your household type prior to the auction.

This ensures that the retailers are bidding for real accounts and pricing decisions are protected from fraudulent sign-ups.

After successfully joining an auction group, you can easily invite your family and friends to participate. Once the minimum number of sign-ups are met, the auction will automatically begin.

Each auction will end at 2pm the next working day. The top five retailers with the best rates (i.e. savings versus the regulated tariff) will be featured, and each group member can vote for his preferred retailer.

The voting is not just based on pricing. Customers can evaluate price offerings, value-added perks, retailers’ unique selling points, one-off rewards, as well as terms and charges to make a final decision. Voltz aims to put the value propositions of all parties upfront instead of only being a price-based comparison portal. All members in the group will be notified at every step of the way.

Customers can evaluate price offerings, value-added perks, retailers’ unique selling points, one-off rewards, as well as terms and charges to make a final decision. PHOTO: VOLTZ ENERGY

To ensure complete transparency and quality assurance for consumers, Voltz has an esteemed Advisory Panel of industry experts and key personnel who represent the retail companies to maintain continuous innovation even as the needs of the energy industry evolve.

Voltz also abides by the code of conduct and regulations set by the Energy Market Authority. This means that customers can look forward to using a fair and concise comparison platform, and enjoy a smooth and secure switch to their newly selected retailer after the auction ends.

Says Mr Wicknesh Maratheyah, managing director of Voltz Energy, “Voltz is a reliable digital platform that empowers every home and business in Singapore to compare electricity price plans with total transparency. They can also use the real-time reverse auction for greater savings — the customer has everything to gain.

“Voltz’s 24-hour customer service team will ensure a seamless transition and render assistance to all customers on the auction process.”

Voltz currently has six licensed retailers on board — Best Electricity Supply, ES Power, iSwitch, PacificLight Energy, Red Dot Power and Sunseap — with more to follow.

Energy Economy ,
Oil & Gas

ADB signs $227.7m loan deal for 2,500MW power plant in Thailand

16 November 2018

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Thailand

The Asian Development Bank (ADB) has signed a $227.7m loan deal with Gulf SRC Company to build a 2,500MW combined cycle power plant (CCPP) in Thailand’s Chonburi Province.

Established in 2012, Gulf SRC builds and operates power plants and is completely owned by Independent Power Development, a joint venture (JV) between Thailand-based power generation company Gulf Energy Development (GED) and Japans trading company Mitsui & Co.

GED CEO Sarath Ratanavadi said: “This project is important as it will help produce the growth and industrial transformation that is expected under the Government of Thailand’s Eastern Economic Corridor (EEC) programme.

“We appreciate ADB’s leadership in mobilising the finance to make the project possible.”

The loan for the Chonburi natural gas power project is expected to help reliable and cost-effective power generation in the region.

“Increased capacity for power generation is essential for rapidly growing countries like Thailand as energy demand will continue to rise.”

ADB signed the loan agreement with its co-financiers including the Japan Bank for International Cooperation and ten other international and local commercial banks.

The new plant will feature combined-cycle gas turbine technology and is expected to be operational by 2022.

Once commissioned, the power plant will be the largest in Thailand that will use natural gas as a resource for power generation.

In addition to supplying clean and cost-effective energy to the country’s electricity grid, the project will provide employment opportunity to the local population.

ADB deputy private sector operations director general Christopher Thieme said: “Increased capacity for power generation is essential for rapidly growing countries like Thailand as energy demand will continue to rise.

“ADB’s financing of Gulf SRC will support the creation of a cleaner and more affordable source of energy generation in Thailand.”

Electricity/Power Grid

24-Hour Electricity in Rakhine to Be Delivered by End of Year

16 November 2018

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Myanmar

NAYPYITAW — A 30-billion-kyat project to provide 24-hour electricity to four townships in Rakhine State will be completed in December, according to the Department of Electric Power Transmission and System Control under the Ministry of Electricity and Energy.

The project was launched in 2016 to provide electricity to Ponnagyun, Rathedaung, Buthidaung and Maungdaw townships. The first three townships have access to electricity at this point, said director U Kyaw Swa Soe Naing of the department.

“We’ve supplied electricity reaching Buthidaung. Only Maungdaw is left. We expect to complete the project by the end of December,” he said during the ministry’s monthly press conference in Naypyitaw on Thursday.

As of March, 1,530 households in Rathedaung and 3,374 households in Buthidaung had electricity around the clock, he added.

The project took so long due to various reasons including instability in the region and logistical difficulties.

Buthidaung Township has access to electricity around the clock on a trial basis as of November, said Lower House lawmaker U Aung Thaung Shwe of the township.

A curfew has been in effect in Buthidaung and Maungdaw townships and civilians are not allowed to go outside between 10 p.m. and 5 a.m.

“As we have electricity now, people will feel emotionally safer despite the curfew,” he said.

“We have electricity, but there are still many people who don’t because they don’t yet have a meter box. So we still need to use charcoal to cook,” said Daw May Han Lwint, a resident of No. 4 Thabyaegon Ward in Buthidaung.

Including Maungdaw, the electricity coverage will have reached 96 percent of Rakhine State by the end of December, according to the Ministry of Electricity and Energy.

“Those without meter boxes still do not have electricity. A meter box costs more than 100,000 kyats and not all of the people can afford that,” said Upper House lawmaker U Aung Kyaw Zan of Rakhine State Constituency (9).

According to the Ministry of Electricity and Energy, Myanmar currently has 24 hydropower plants, 22 gas-fired power plants, and a coal-fired power plant, which produce a combined output of more than 3,000 megawatts that covers only 37.85 percent of total households in the country.

The ministry is building four gas-fired power plants with a projected total output of some 3,000 megawatts.

Oil & Gas

Myanmar plans first oil and gas bids since 2014

16 November 2018

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Myanmar

New bids for oil and gas exploration and development rights on a series of blocks, along with reforms to joint-venture requirements, are expected to stoke renewed interest in Myanmar’s energy sector and boost investment inflows.

On August 30 the Ministry of Electricity and Energy (MoEE) announced it would be opening fresh rounds of bidding for oil and gas blocks in the first half of next year, and there are plans to launch a tender for at least one onshore block before the end of 2018.

If all goes according to plan, the MoEE’s Department of Oil and Gas Planning will offer 18 onshore and 13 offshore blocks.

The bids are aimed at revitalising Myanmar’s energy sector, which has seen activity slow down in recent years. The last round of exploration and production (E&P) tenders were held under the former government in 2014.

However, of the 31 blocks the MoEE intends to offer, 16 have been awarded in previous tender rounds, and the winning bidders subsequently relinquished their exploration rights. Preliminary testing was conducted on some of the blocks that were handed back by former leaseholders, which may raise doubts over their commercial viability.

A lack of E&P opportunities in recent years, along with the departure of a number of international energy companies from the local market, has been a major contributor to declining foreign direct investment (FDI).

In FY 2017/18 the total value of FDI fell from US$6.65 billion to US$5.72 billion, according to the Myanmar Investment Commission.

New discovery could fuel investment appetite in offshore fields

Nonetheless, recent finds in the upstream energy segment have brought new opportunities in the country’s offshore fields to the fore.

On September 22 France-headquartered multinational energy company Total reported encouraging results from preliminary testing at the offshore Shwe Yee Htun-2 field, located approximately 100 km north-east of Pathein township. Initial appraisal of the find indicates significant natural gas reserves of commercial viability.

Further testing on the block will be carried out to determine the extent of the deposit, since gas was found in each of the five appraisal wells, officials said.

The Shwe Yee Htun-2 field is part of the larger A6 block that has estimated reserves of up to 3trn cu feet, according to a statement by Total.

Myanmar has 53 onshore and 51 offshore blocks that have been identified as having commercially extractable reserves, and activity is currently under way at 35 onshore and 38 offshore blocks.

Production-sharing contracts revised to attract international investors

Beyond offering new prospects in oil and gas, the government is also looking to lift the requirement that overseas investors partner with a local company.

“It will no longer be mandatory to join up with local firms,” Daw Khin Htay, director at the state-owned Myanma Oil and Gas Enterprise, said at a press conference in mid-July. “This will instead be made voluntary in the future.”

In the past, the authorities required that oil and gas projects be joint ventures. This was in part to ensure skills and technology transfer to the domestic energy sector, in order to better equip it for future growth. However, the requirement also diluted foreign investors’ holdings and revenue.

Potential leaseholders may also be encouraged by reports that the Department of Oil and Gas Planning is reviewing the terms of production-sharing contracts.

According to consultancy Wood Mackenzie, some contracts mandate that the state receive up to 94 per cent of all revenue generated from hydrocarbons projects, which is at the upper end of the international scale. Additionally, the government does not currently share the risk in exploration and development costs. To this end, stakeholders have called for the government to reduce its share of revenue from oil and gas projects.

Although this would lower state receipts from each project, the increased flexibility of energy contracts could help to increase the investment appeal of the new blocks and future offerings. However, this restructuring has yet to actually take place.

This Myanmar economic update was produced by Oxford business Group.

Renewables

Cambodia to boost clean energy use, including hydropower

16 November 2018

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Cambodia

Cambodia will push ahead with plans to use hydropower and coal to electrify the entire country by 2020, but solar energy will play some role, especially in remote areas, an energy ministry official said on Wednesday. The Southeast Asian nation has electrified rapidly since 2000, when only 16% of the population had access to power, according to the World Bank.

Renewables

Singapore takes the lead in embracing green energy across ASEAN: report

16 November 2018

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Singapore

Rising energy consumption and cost pressures continue to hinder the region’s sustainability efforts, the report said.

Singapore is setting an example across ASEAN as it takes the lead in embracing green energy following its moves to transform itself into a trading hub for LNGs, according to Capgemini’s 2018 World Energy Markets Observatory report.

Singapore is already being developed as a gas hub as the country has made important moves towards liberalising its gas market, providing the basis for more competitive price setting and greater transparency, Capgemini said.

Capgemini also highlighted how Singapore has been at the forefront to decrease energy consumption by moving to renewable sources of energy, allowing households and small businesses to choose their electricity provider, and opening up a vibrant market with competitive tariffs for residential electricity through the Open Electricity Market launched in April 2018 at Jurong district.

“A total of 108,000 residential accounts and 9,500 business accounts were able to exercise this choice of electricity provider,” Capgemini revealed. “The Open Electricity Market will be extended to the rest of Singapore from Q4 2018, allowing the remaining 1.3m accounts (mainly households) to choose their electricity provider and tariff plan.

The report noted how in October 2017, Singapore installed its first long-span wind turbine at Semakau Landfill which produces enough energy to power 45 four-room HDB units a year. The country also launched a blockchain marketplace platform that promotes renewable energy certificates (REC) trade.

Whilst ASEAN recently announced meeting its energy efficiency goals ahead of its 2020 target, energy demand in SEA has increased by more than 150% over the last 25 years.

“As Southeast Asia marches towards a digital future, there will be added pressures on utilities providers to modernise their systems,” Capgemini South East Asia & Hong Kong managing director Gaurav Modi said.

According to the report, whilst renewables have become a major focus for Southeast Asia, rising energy consumption and cost pressures hinder the region’s sustainability efforts.

“In 2017, SEA’s six major countries (Hong Kong, Malaysia, Philippines, Singapore, Taiwan and Vietnam) accounted for 3.7% of total emissions, contributing to the rise in greenhouse gas (GHG) emissions,” Capgemini noted. “According to Bloomberg New Energy Finance (BNEF), the modest renewable energy investment figures for the populous Southeast Asian economies with fast-growing electricity demand resulted mainly from policy uncertainty.”

By country, the report demonstrated how Hong Kong, Malaysia and Vietnam have each invested $965m (US$700m) into renewable energy, followed by Singapore and Taiwan with $827m (US$600m) each. Trailing behind was Philippines with a $413m ($300m) renewable energy investment.

Renewable energy sources are expected to account for the largest share of installed capacity at 40% in 2040, but coal is still likely to take the most prominent role in the generation mix, the report said.

Meanwhile, the natural gas demand in Southeast Asia is expected to increase at a rate of 2% per year over the period of 2016 to 2040, and the report highlighted how countries such as Vietnam and the Philippines are looking into LNG imports for the first time in 2019.

“Southeast Asia has the potential to leapfrog fossil fuel-based energy generation methods, but only if the renewable energy sector can attract investors,” Capgemini said.

Capgemini’s World Energy Markets Observatory report monitors the main indicators of the electricity and gas markets in Europe, North America, Australia and Southeast Asia and reports on the the developments and transformations within these sectors.

Electricity/Power Grid ,
Renewables

Continental Temic taps EDC for power

16 November 2018

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Philippines

Global automotive parts company Continental Temic Electronics Philippines signed an agreement with geothermal power producer Energy Development Corp. for the supply of clean and reliable power for its facilities in Calamba, Laguna. Under the agreement, EDC will supply Continental Temic with 2.7 megawatts of geothermal power from EDC’s BacMan geothermal project starting Dec. 26, 2018 over a two-year period. “We chose EDC for its 100-percent renewable energy and for its sustainability programs, which are aligned with our company values,” said Continental Temic general manager Glenn Everett.

Continental Temic develops and manufactures components, modules and systems for the automotive industry. Its corporate strategy is focused on climate protection and energy efficiency. “We firmly believe that Filipinos should have more clean energy options. We are encouraged that clean and sustainable energy is gaining traction in the Philippines,” EDC president Richard Tantoco said earlier.

Electricity/Power Grid

Renewable energy TNB’s way to tackle escalating cost

16 November 2018

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Malaysia

KUALA LUMPUR: The Energy, Science, Technology, Environment and Climate Change Ministry is targeting to grow renewable energy’s (RE) proportion of generation mix from the current two per cent to 20% by 2025-2030.

This bodes well with the electricity supply industry (ESI), now grappling with the escalating global coal price. Eventually, this new target might allow for more stable tariffs in the future, analysts said.

Fifty-three per cent of Malaysia’s electricity comes from coal, 42% from natural gas and the remainder from hydro and RE.

Coal price is currently hovering above US$100 (RM418) per tonne, up by more than 100% after reaching a 10 year-low in 2016 when it fell below US$50 (RM209) per tonne.

The price increase since last July has thrown a spanner in the ESI’s generation costs as coal is 100% imported.

Over 60% of the coal is purchased from Indonesia, and the rest from Australia, South Africa and Russia.

“Coal demand in the next two years is expected to remain stable at around current levels,” said Hans van Cleef, Senior Energy Economist at ABN Amro.

“Although headlines in the newspapers may suggest that coal demand will peak soon, in reality, demand will remain solid in the coming years,” he added.

To prepare for such scenario, the industry has taken steps to achieve greater efficiency in power generation through coal power plants.

All new coal-fired power plants now use ultra-supercritical (USC) technology that burns less coal for more power, while complying with emission standards.

Tenaga Nasional Bhd’s (TNB) 1,000MW Manjung 4 power plant, which commenced operations in 2015, is Southeast Asia’s first USC coal fired power plant capable of producing enough electricity for two million homes with a three per cent reduction in coal consumption.

Going forward, the government has put in place a few mechanisms to boost RE’s contribution in power generation, including Net Energy Metering, Large Scale Solar (LSS), Green Sukuk Financing Scheme and Feed-in Tariff mechanisms.

As the national utility corporation, TNB is committed to support the government’s RE agenda and aspires to be the Asean leader in RE as demand for green energy grows.

The company has embarked on the country’s largest LSS park with the 50MW project in Kuala Langat, Selangor, as well a few joint ventures in biomass and biogas power stations.

TNB’s most recent venture is through its RE subsidiary, where the company plans to offer financing self-generation packages for solar photovoltaic panels for residential customers by year-end.

These packages have already been offered to commercial and industrials customers.

The government’s immediate near-term focus is to explore large-scale renewable projects that are viable under similar levelised tariffs as fossil fuel-based plants.

This is important to keep prices low in ensuring affordability of electricity tariff.

Through the strong drive by MESTECC and with great support by TNB and the industry, the country is well underway in fulfilling its pledge to the United Nation’s Framework Convention on Climate Change to reduce its greenhouse gas emissions intensity of GDP by 45 per cent by 2030. — Bernama

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Its real-time electricity pricings offer complete transparency, and ultimately, more savings for consumers.

1. It allows consumers to get the best deals

2. Its real-time pricings and updates result in an equal playing field

3. It offers a secure and seamless auction and transition experience

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