| Srl | Item |
| 1 |
ID:
166301
|
|
|
|
|
| Summary/Abstract |
Singapore began a huge step to deregulate its electricity market since 2003, with the creation of the National Electricity Market of Singapore (NEMS) allowing for bid-ask offers to be made for the dispatch of electricity supply on the wholesale side. Subsequently, the retail market liberalised in tranches, with 80% of electricity consumers currently already given an option to select their electricity retailers since late 2014. This paper aims to quantitatively analyse how competitiveness in both the wholesale and retail market led to price decreases from 2014 to 2017, using daily data for electricity and oil prices. We find that supply competition and the more recent retail liberalisation efforts has possibly led to a combinatorial decrease in wholesale electricity prices by up to 9.11%, accounting for the influence of oil prices and volatility components. This work seeks also to bring some insights on what to expect from full retail contestability after the latter half of 2018.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
149840
|
|
|
|
|
| Summary/Abstract |
This article provides fresh empirical evidence of residential electricity demand in Singapore over the period of 1980–2014, using the bounds testing procedure to cointegration. The residential electricity demand comprises of income, price, temperature, rainy days, old-age dependency and the impact of energy efficiency policies. Our results are consistent with previous studies, where income and price elasticities are inelastic. Hence, from a policy perspective, subsidies will not be effective in reducing electricity demand. We also found that old-age dependency is an important determinant that reduces electricity consumption at least in the short-run, suggesting that policies that target the younger population may bring more savings.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|