OREANDA-NEWS. SGX Electricity Futures (EF) added 14 lots in the last two weeks to bring the total volume since trading start to 1682 lots (1,845 GWh). Open interest as at the end of last week was 749 lots (820 GWh). The forward curve in the past two weeks showed an uptrend, with forward prices ranging between low $50s and mid $80s per MWh.

During the week of 8 – 14 May 2016 (Week 20), the weekly USEP increased by 12% to average at $62.9/MWh, due to higher volatility in the USEP. Forecasted demand this week recovered after negative growth in the previous two weeks, rising by 2.4% to average at 5,848 MW. On a week-on-week basis, forecasted demand was higher on all days, except on Friday and Saturday. The largest increase was seen on Monday at 13.3% because the preceding Monday was a public holiday. Both the lowest and highest periodic forecasted demand have also increased, by 4% and 1.2% to 4,814 MW and 6,846 MW, respectively.

In line with the rebound in forecasted demand, total supply for Week 20 also increased by 4.4% to average at 8,288 MW. The rise was mainly due to the 4.5% increase in CCGT supply to 7,977 MW, which more than offset the 0.1% drop in ST supply to 131 MW. GT supply remained unchanged at 180 MW. A week-on-week comparison shows that the CCGT supply was stronger for all days. The largest increase in CCGT supply was recorded on Monday at 11.6%, due to the fact that the preceding Monday was a holiday

Singapore Exchange (SGX) has been named Exchange of the Year at the Energy Risk Awards 2016, becoming the first Asian exchange to win this global award. SGX was selected by a judging panel of Energy Risk’s editorial team and industry experts in recognition of SGX’s innovation in commodity derivatives and energy risk management. The ceremony of the awards was held in Houston, USA, on 17 May.