OREANDA-NEWS. SGX Electricity Market Report.
  • SGX Electricity Futures (EF) ended the month of September with 54 lots of traded volume and added 29 lots so far in the first week of trading in October, bringing the total volume since trading start to 2,276 lots (2,497 GWh). Open interest as at the end of last week was 707 lots (774 GWh). The forward curve has shifted higher last week to between the high $70s and high $80s per MWh. The Sep-16 (3Q16) contract was final-settled at $69.16/MWh.
  • During the week of 25 September to 1 October 2016 (Week 40), the weekly USEP increased by 21.1% to average at $86.09/MWh, the third highest weekly USEP so far this year. Forecasted demand this week rose 1% to 5,894 MW, the highest weekly demand since market started, exceeding the previous record set in Week 34 this year as well as last year’s highest weekly demand set in Week 30, by 16 MW and 111 MW, respectively.
  • Total supply for Week 40 expanded by 0.8% due to the increase in CCGT offers, with most of the increased offers occurred above $100/MWh price level. This is the fourth consecutive week that the total supply has increased. Supply cushion remained around or below 28% level since Week 33, which resulted in higher USEP for the last few weeks.