27 November 2002 – Singapore’s deregulated electricity market will begin operating from the start of 2003, Minister of State for Foreign Affairs and Trade and Industry Raymond Lim said Wednesday.
Under the deregulated electricity market, the city-state will have four power generators – Tuas Power, PowerSeraya, Sembcorp Cogen, Senoko Power, which will compete to sell electricity. The power will be sold to seven retailers who will then sell the power to consumers.
Minister Lim made the announcement at the opening of PowerSeraya’s two new 370 MW combined-cycle power plants – lifting its licensed capacity to 3100 MW.
The new larger facility enables the power station to burn natural gas as well as fuel oil, instead of just fuel oil.