Page 13 - AsiaElec Week 13 2021

AsiaElec NEWS IN BRIEF AsiaElec

biofuels, CCUS (carbon capture, utilisation the Covid-19 pandemic, said EMA. South Korea, said Monday that it will take
and storage), hydrogen production and The new rate applies to only consumers the initiative to expand the scope of its eco-
carbon sequestration through technology who still buy electricity from SP Group at friendly management practices, including
exchange, joint R&D through Partnership to the regulated tariff. This accounts for around boosting investment in eco-friendly facilities.
Advance Clean Energy Research (PACE-R), 51 per cent of households as at the end of The company announced it would establish
among other initiatives. February. solar power generation facilities at idle spaces
“Both sides agreed to convene the Meanwhile, gas tariffs for households will inside its logistics centers for petrochemical
third meeting of a revamped India-US also increase by 0.84 cent per kwh for the products.
Strategic Energy Partnership at an early second quarter, said City Gas. The power supply systems for logistics
date,” the statement said. “They decided to Excluding GST, the rate will rise from centers, which consume the second largest
intensify the efforts to take advantage of the 17.23 cents per kwh to 18.07 cents per kwh amount of electricity behind production
complementarities of both the countries from today to June 30. With GST, the rate is factories, will be adapted into eco-friendly
- advanced US technologies and rapidly 19.33 cents per kwh. models.
growing India’s energy market, for a win-win This is due to an increase in fuel costs The company plans to generate additional
situation through a cleaner energy route with compared with the previous quarter, said City revenue by selling the remainder of the
low carbon pathways.” Gas. electricity generated under the new plan.
Granholm became US Secretary of Energy The revised gas tariffs have been approved At present, Hyundai Oilbank runs a total
in February this year. by EMA, which also regulates the gas industry. of eight logistics centers across the country.
For greater electricity price certainty, EMA The company is now in the process of seeking
said consumers can consider buying electricity approval to conduct pilot tests at two locations
under fixed price plans offered by energy – one in Seoul and the other in a rural region.
TARIFFS retailers in the Open Electricity Market. The Furthermore, Hyundai Oilbank also
energy market was liberalised in November intends to expand the installation of the
Electricity, gas tariffs to go 2018 to give households more choices when gas station soil pollution prevention system
choosing energy retailers. Consumers can visit Hyundai Holmes that monitors oil leakage
up for next three months compare.open electricitymarket.sg to check on a real time basis through special detection
sensors installed on gas pump pipes.
out the different fixed price plans.
he electricity tariff for just over half of The company intends to install Hyundai
households in Singapore will rise by 8.6 Holmes at another 150 directly-run gas
per cent for the second quarter of this year, stations this year, while also subsidising
compared with the previous quarter, said SP SOL AR the cost of installation at privately-run gas
Group yesterday. stations.
This increase is mainly due to the higher Hyundai Oilbank Hyundai Oilbank also said that it will
cost of fuel for producing electricity by the increase the importance of its eco-friendly
power generation companies, it added. Accelerates Adoption of fuel ventures among its overall operations.
For the period between today and June To this end, it will increase the number
30, the electricity tariff will increase from Solar Power at Logistics of electric vehicle charging stations from the
20.76 cents per kwh to 22.55 cents per kwh, current 20 to 200 by 2023, while boosting the
excluding goods and services tax (GST). Centers number of hydrogen charging stations to 180
Including GST, the rate for the quarter is by 2030.
24.13 cents per kwh. Hyundai Oilbank Co., a major refiner in
The average monthly electricity bill for
families living in four-room Housing Board
flats will go up by $5.62 before GST, said SP
Group.
The electricity tariff is calculated following
four components, including energy costs,
which reflect the cost of imported natural gas.
The national power grid operator reviews
electricity tariffs every quarter based on
guidelines set by the Energy Market Authority
(EMA).
The recent increase is in tandem with the
significant rise in global oil prices, said EMA.
With the gradual resumption of global
economic activity and the tightening supply in
the global oil market, fuel prices have been on
an uptrend, it said.
However, the rate for the second quarter is
still below the tariff for the same period last
year.
Fuel prices fell in the first half of last year
and dipped to an all-time low last April due to

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