Singapore Power
Singapore Power (Abbreviation: SP; Chinese: 新加坡能源有限公司) is the corporatised entity of the former Electricity and Gas departments of the Public Utilities Board. The company provides electricity and gas transmission, distribution services, and market support services to more than a million customers in Singapore. It is one of the largest corporations in Singapore. Singapore Power was first incorporated as a commercial entity in October 1995 as Singapore Power and Gas, but because the abbreviation of that name (SPG) had negative connotations, it was quickly changed to Singapore Power, it was created to take over the electricity and gas businesses of the state provider, the Public Utilities Board. Since 1995, Temasek Holdings controls the entire company with a 100% stake.
The company is involved in a major investment in Australia's Alinta in partnership with Babcock & Brown,[1] after putting up a bid of A$13.9 billion (S$17 billion), beating out a rival bid by Macquarie Bank.[2]
Major subsidiaries
- PowerGas - The sole licensed gas transporter and gas system operator, transporting both natural gas and town gas. It owns and operates all the gas pipelines in Singapore and is responsible for delivering gas to users through its gas pipe network. It operates a town gas system as well as a natural gas system which is transmitted from Sumatra.
- SP AusNet - Singapore Power International Pte Ltd, a wholly owned subsidiary of Singapore Power Limited, owns a 51% interest in SP AusNet. SP AusNet's electricity transmission and distribution networks, along with the gas distribution assets, enable it to deliver a full range of energy-related products and services to industrial and domestic customers in Victoria, Australia. SP AusNet is listed on the Australian Securities Exchange (ASX).
- SP PowerAssets - Formed in Oct 2003, it is the sole provider of electricity transmission and distribution services in Singapore. It holds the Transmission License and owns the electricity transmission and distribution Network of Singapore including major transmission and distribution assets like substations and underground cables with an approximate network value of S$6.5billion (as at 31st Mar 06)
- SP PowerGrid - Formed in Oct 2003, has been appointed by SP PowerAssets to manage its business including the management of the transmission network and the operation of the distribution network. ISP PowerGrid has achieved ISO 9001:2000 certification in network development and management. Its wide range of expertise includes network planning, project management, network management, control and communications and condition monitoring.
- SP Services - Provides integrated customer services for electricity, water and piped gas supplies in Singapore. It is the Market Support Services Licenses providing meter reading services, meter data management, facilitates customer registration and transfer between retailers, serves as a conduit to buy electricity from the wholesale electricity market on behalf of retailers or contestable consumers, provide electricity at published tariffs for residential and small businesses. It also provides billing and payment collection for utility providers including for electricity transmission, water charges, sanitary appliance fee, gas supply charges, and refuse charges.
- SP Telecom - Provides Network infrastructure provider SP Telecom owns, builds and powers communications and infrastructure services in Singapore.
Major joint ventures
- Power Automation - a joint-venture company set up by Singapore Power with Siemens in July 1995 to offer engineering services in protection systems, substation control and energy management and information systems across Asia Pacific.
- Singapore District Cooling - a joint-venture company set up by Singapore Power with Dalkia in September 2000 as a partner to implement the pilot District Cooling project at Marina South New Downtown. District Cooling is a new urban utility service involving the centralised production of chilled water for distribution to commercial buildings for air-conditioning purposes.
Other investments
- SPI Seosan Co-generation and Water Treatment - Singapore Power’s investment in South Korea provides electricity, steam and water treatment services to Samsung Total Petrochemicals Co Ltd, one of the largest petrochemical companies in Korea.
- EverPower IPP - Singapore Power’s investment in Taiwan comprises a 25% stake in Ever Power IPP Company, an independent power producer, which supplies electricity to Taiwan Power Company.
Controversies
It was reported that over 600 victims of the 2009 Black Saturday bushfires in Australia, which killed 171 people, signed a class action lawsuit against Singapore Power. The action alleges negligence and breach of duty in the service and maintenance of powerlines controlled by them in the state of Victoria. In particular, the lawsuit alleges the power company negligently failed to fit a $10 protective device on the power line, which contributed to it breaking and starting the devastating Kilmore East fire on 7 February 2009.[3] Singapore Power stated that they were not the defendants in the case, rather the defendant was SPI Electricity Pty Ltd, Singapore Powers electricity distribution operating company.[4]
In 2015, Singapore Power dismissed and subsequently reported to Corrupt Practices Investigation Bureau four employees: Ridhuan Ramli, Suffiandi Mohamad Suhaimi, Kutty Hassan and Jasman Tiron, who had suspectedly accepted bribes of between S$50 and S$450 for “not creating difficulties” for China Construction South Pacific during an installation inspection.[5]
See also
References
- ↑ "Australia's Alinta recommends US$6b bid by Babcock, Singapore Power". Channel NewsAsia. 30 March 2007.
- ↑ "SingPower group in $17b buyout of Aussie firm". The Straits Times. 30 March 2007.
- ↑ "Hundreds sign for bushfire class action". Ninemsn. June 19, 2010. Retrieved 23 March 2012.
- ↑ "Singapore Power says it's not a defendant in lawsuit over Australian bushfire". Channel NewsAsia. June 19, 2010. Retrieved 23 March 2012.
- ↑ Chelvan, Vanessa Paige. "Four ex-Singapore Power employees charged with corruption". CNA. Retrieved 2 December 2015.