Global Energy Crisis Hits Singapore as Power Provider Goes Bust
- Power retailers feeling pressure amid power price surge
- Crisis upends effort to liberalize Singapore’s power sector
This article is for subscribers only.
A record-breaking spike in electricity prices is short-circuiting Singapore’s efforts to liberalize its power sector, in the latest sign that the global crisis is delivering a blow to both energy suppliers and their customers.
Electricity supplier iSwitch Energy will cease power retail operations on Nov. 11 due to “current electricity market conditions,” the company said on its website Wednesday. Existing customers will be transitioned to SP Group, Singapore’s state-owned power provider.