OREANDA-NEWS. SGX Electricity Futures (EF) traded 73 lots in the last two weeks, bringing the volume for Q2 2016 to-date to 479 lots, already surpassing the previous quarterly high of 458 lots set in Q4 2015. Total volume since trading start now stands at 1755 lots (1,925 GWh). Open interest as at the end of last week was 780 lots (854 GWh). The forward prices in the past two weeks remained between the low $50s and mid $80s per MWh.

During the week of 22 – 28 May 2016 (Week 22), the weekly USEP surged by 9% to average at $55.14/MWh, due to lower supply cushion. Forecasted demand this week increased by 0.9% to 5,849 MW, the highest weekly forecasted demand since market started. On a week-on-week basis, forecasted demand was higher from Tuesday to Saturday, but lower on Sunday and Monday. The highest increase was on Saturday at 225 MW or 4%, because the previous Saturday was a Public Holiday.

Total supply for Week 22 increased slightly by 0.1% to average at 8,337 MW, the fourth highest level since market started. The uptick was due to an increase of 0.2% in CCGT supply to 8,028 MW, also the fourth highest CCGT level since market started. The highest CCGT level was 8,196 MW recorded in Week 15 this year. There was a drop of 6 MW in ST supply this week, while the GT supply remained unchanged. A week-on-week comparison shows that total supply was higher on all days except Monday and Tuesday, with the highest and lowest increase was observed on Saturday at 281 MW and on Friday at 33 MW, respectively.