Page 10 - AsiaElec Week 39

AsiaElec
NEWS IN BRIEF
AsiaElec
TARIFFS
Singapore’s electricity tariff to fall
The electricity tariff for households will fall for the October to December period after it rose to a near five-year high in the previous quarter.
The tariff will decrease by an average of 3.3%, or 0.79 cent ($0.0052) per kilowatt hour (kWh), compared to the previous quarter. This is mainly due to the lower cost of natural gas for electricity generation, SP Group said on September 30.
For households, the electricity tariff will decrease from 24.22 cents to 23.43 cents ($0.16-0.15) per kWh, excluding Goods
and Services Tax (GST), from October 1 to December 31. This means that the average monthly electricity bill for families living in four-room Housing Board flats will decrease by S$2.84 ($1.88), SP Group said.
The rate of 24.22 cents ($0.016) in the July to September period was a 6.4% increase from the preceding quarter and the highest rate since 2014. SP Group said then that the increase was due to the higher cost of natural gas.
SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.
TECHNOLOGY
Power Ledger brings
blockchainenergymodelto
SE Asia
Australian energy tech startup Power Ledger is keen to expand business in Southeast Asia, as the region is expected to become the fourth-largest energy consumer in the world by 2030.
In early September, Thailand hosted the 37th Asean Ministers on Energy Meeting and Associated Meetings, with Power Ledger participating in the renewable energy conference.
Maria Atkinson, an adviser to Power Ledger, outlined the company’s business presence worldwide, with projects in Thailand, Japan, Europe, Australia and the US.
“We have partnered with well-known energy companies to improve the efficiency and transparency of energy markets globally,” she said. “By 2030, renewable energy resources will be more important than ever.”
Ms Atkinson said Southeast Asia’s demand for energy is set to grow by two-thirds over 20 years. A combination of dwindling domestic resources and environmental concerns is driving many governments and markets to explore alternative energy options.
She cited an International Energy Agency estimate that a $2.7tn investment is needed to meet the region’s growing needs for energy supply, transmission and efficiency.
Renewable energy can provide a more cost- efficient and greener solution, Ms Atkinson said.
Power Ledger runs blockchain-backed peer-to-peer energy trading that can support uptake of renewable energy in the future.
It has partnerships with BCPG, a Thai renewable energy company, and Thai Digital Energy Development (TDED), a joint venture of BCPG and PEA Encom International.
“The presence of Power Ledger in Thailand has already created opportunities for other modern businesses and industries that aim
to pursue clean energy production and distribution as part of their dedication to sustainability,” Ms Atkinson said. “Power Ledger provides a low-carbon model for countries in the region that are considering renewable energy.”
The company plans to explore partnership opportunities with other companies in the region, she said.
GAS-FIRED GENERATION
AES granted approval to
develop 2.2GW gas power
plantinVietnam
AES has been granted approval by the Government of Vietnam to develop a 2.2GW combined cycle gas turbine (CCGT) power plant, which will be located in the south- central province of Binh Thuan, Vietnam.
The Son My 2 plant will have a 20-year contract with the Government of Vietnam, and is expected to achieve financial close in 2021 and begin commercial operations in 2024.
Son My 2 complements AES’ investment plans in gas infrastructure in the country with its previously announced Son My LNG terminal, which received approval from the Government of Vietnam in August 2019.
Together, the plant and terminal will
play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG as well as meeting the country’s increasing demand for sustainable and affordable electricity.
“AES is committed to the country’s economic growth and energy transition through the development of gas and renewable infrastructure,” said Andrés Gluski, AES President and Chief Executive Officer. “We appreciate that the Government of Vietnam has selected us to advance this critical project for the country.”
This approval represents a significant milestone in the development of the CCGT plant and the LNG terminal, enabling the Company to move forward with the necessary permitting and associated project agreements. AES
HYDRO
China set for 40GW of pumped hydro storage
The 3.6GW energy storage project being built by China in Fengning county will help the nation to 40GW of pumped hydro capacity next year, as stipulated in the government’s 13th five-year plan.
The National Energy Administration says there is already 19.23GW of pumped hydro storage capacity in China with a further 31.15GW under construction, including
the $2.78 billion Fengning project in Hebei province which is set to be the world’s largest.
Chinese state media sources including
the Xinhua News agency, state broadcaster CCTV and newspaper The People’s Daily have reported Fengning will take just five minutes to switch from full pumping operation – where excess renewable energy present in the grid is used to drive water uphill between two large reservoirs – to full energy generation as the water rushes back downhill, thus acting as a huge battery for an eventual 3.6GW of solar- and-wind-to-hydro power.
The project is not expected to be fully operational until 2023 but a $1.54 billion, 1.8GW first stage will enable it to provide peak shaving services to the grid and emergency back-up power during the Winter Olympics to be staged in Beijing and Zhangjiakou in 2022. The second stage of the project will add the remaining 1.8GW of storage capacity at an estimated $1.24 billion cost.
China’s National Development and Reform Commission approved the start of works in 2013 with the project featuring 12 reversible hydroelectric power generators.
The project is being developed by the State Grid Corporation of China with fellow state- owned entity China Gezhouba Group Corp providing engineering, procurement and construction services.
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Week 39 01•October•2019