SGX Electricity Market Report
OREANDA-NEWS. SGX Electricity Futures (EF) added 20 lots in the first two weeks of February 2016. Total volume since trading start is now 1,076 lots (1,182 GWh). Open interest as at the end of last week was 575 lots (630 GWh). Daily settlement prices (DSP) in the past two weeks for all contracts remained between $53-$74/MWh, the same price range as in the prior two weeks.
During the week of 31 January – 6 February 2016, the weekly USEP slumped to an eighth week low to average at $55.81/MWh. This was a 14.1% drop from the previous week. Forecasted demand during the week remained sluggish with the Chinese New Year approaching, inching up by 0.1% to average at 5,532 MW, a small respite after two weeks of continuous fall. On a week-on-week basis, higher forecasted demand was observed from Sunday to Thursday, while Friday and Saturday saw demand dropped by 66MW and 150MW respectively.
Total supply for the week of 31 January – 6 February 2016 increased by 0.4% to average at 7,821 MW, due to higher CCGT supply. This was the highest supply in the last ten weeks since November 2015, despite a 9MW drop in the ST supply. The total supply remained undampened despite the two forced outages on Friday and Saturday, as further justified by the higher supply cushion seen on these two days above the year-to-date average of 29.1%.