Oil is recovering, time to lock in your open electricity price plans?

[Chase]

If you believe oil has bottom, maybe it is good to lock in current rates for 2-3 years.

 

[zhihau]

buy low, sell high!!! altogether now!!! HUAT AH!!!

 

[syed putra]

What has oil got to do with electricity tarrifs! Most of the power plants are power by lng on long term supply contracts.

 

[laksaboy]

Sinkie electricity is generated with natural gas.

 

[Chase]

Sinkie electricity is generated with natural gas.

Yes and unfortunately, they mark-to-market based on oil prices.
Natural gas crashed in the past ten years.

 

[JohnTan]

The cost of oil here has a lot more to do with storage, rent, processing and transporting locally than just crude oil prices. Kindly do not destabilize local oil prices simply because you want to save a few bucks.

 

[syed putra]

Yes and unfortunately, they mark-to-market based on oil prices.
Natural gas crashed in the past ten years.

That's why electricity tarrifs should be lowered by 50%. But its not happening anywhere on the planet.

 

[Chase]

Singapore powers changes rates quarterly.
Some open electricity service providers changes rates monthly or weekly depending on volatility of energy prices.

 

[bobby]

Petrol cartel in Singapore has the backing of the gahmen.

 

[Chase]

Oil up 10% today.