- This move further diversifies Singapore’s energy sources to enhance energy security
- Marks a step towards the success of an ASEAN power grid
YTL PowerSeraya Pte. Limited (“YTL PowerSeraya”), a wholly-owned subsidiary of YTL Power International Berhad (“YTL Power International”), has been appointed the electricity importer for a two-year trial to import 100MW[1] of electricity from Malaysia via existing interconnectors. This follows a Request for Proposal process held in March 2021 by the Energy Market Authority (“EMA”).
As the appointed electricity importer, YTL PowerSeraya will work closely with its Malaysian-based parent company YTL Power International to import electricity into Singapore.
Mr. John Ng, Chief Executive Officer of YTL PowerSeraya, said, “YTL PowerSeraya, together with YTL Power International, is honoured to have been selected for this important initiative to play our part in building the Singapore Energy Story. The appointment marks a significant step towards the success of an ASEAN power grid, where electricity imports may eventually form a key part of Singapore’s energy mix.”
He added, “We look forward to working closely with EMA to refine all technical settings and regulatory arrangements under the Electricity Import Framework during this two-year trial, which is expected to commence in early 2022.”
YTL PowerSeraya’s prior experience in cross-border power trade and financial settlements places the company in good stead to be involved in this trial. To-date, YTL PowerSeraya remains the only party in Singapore to have traded across the interconnector.