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- SGX Electricity Futures (EF) traded 23 lots in the past two weeks, bringing February volume to-date to 43 lots, and the total volume since trading started in June last year to 1,099 lots (1,207 GWh). Open interest as at the end of last week was 586 lots (642 GWh). Daily settlement prices (DSP) in the past two weeks for all contracts rose slightly to between $55-$77/MWh.
- During the week of 7-20 February 2016, the weekly USEP increased by 9.4% to average at $45.74/MWh. After four consecutive weeks of drop, forecasted demand rebounded by 10.1% to average at 5,499 MW, mainly due to the post Chinese New Year (CNY) holiday effect. On a week-on-week basis, forecasted demand was higher on all days except Saturday, rising from Sunday and reaching the highest level at 5,760 MW on Tuesday before declining. The biggest increases were seen on Monday and Tuesday at 24.7% and 25.4% due to the low demand during the CNY holiday in the preceding week.
- Total supply for the week of 7-20 February 2016 also rebounded strongly, rising by 7.7% to average at 8,136 MW – highest level in 16 weeks. A week-on-week comparison showed that total supply increased on all days of the week. The highest supply was observed on Wednesday at 8,339 MW, while the most significant rises in total supply were seen on Monday and Tuesday at 19.1% and 18.8% respectively. The growth in total supply was due to the increase in CCGT supply, where on average, less CCGT units were out for maintenance this week than the preceding week.
FULL ELECTRICITY MARKET REPORT AVAILABLE <HERE>
