SGX Electricity Futures Traded 27 Lots So Far in September
OREANDA-NEWS. SGX Electricity Futures (EF) traded 27 lots so far in the month of September, bringing the total volume since trading start to 2,220 lots (2,436 GWh). Open interest as at the end of last week was 842 lots (923 GWh). The forward curve remains between low $70s and low $80s per MWh.
- During the week of 11 – 17 September 2016 (Week 38), the weekly USEP recorded a five-week low, dropping by 24.1% to average at $67.96/MWh, due to higher supply cushion. Forecasted demand this week softened to its lowest level since the National Day public holiday week due to the Hari Raya Haji public holiday, decreasing by 2.2% to 5,717 MW. On a week-on-week basis, forecasted demand this week was lower on all days except for Saturday.
- Total supply for Week 38 increased by 1.1% to average at 7,903 MW, due to higher CCGT supply as the return of a CCGT unit from urgent maintenance led to the ST supply retreating from Wednesday onwards. Overall, CCGT supply increased by 1.6% to 7,555 MW, while ST supply decreased by 0.5% to 168 MW. A week-on-week comparison also showed that total supply was higher since Wednesday.