Singapore electricity providers hit by global power crunch quit market
The Peninsula
Singapore: Two energy providers in Singapore, including one of the largest independent electricity retailers, are exiting the market and according to company sources at least three others have stopped accepting new clients amid rocketing wholesale energy prices.
iSwitch Energy, one of Singapore's largest independent electricity retailers, said on its website that it will be ceasing electricity retail operations on Nov. 11, due to "current electricity market conditions". The company declined to comment further.
SilverCloud Energy, which supplies power to commercial, industrial and residential buildings, told Reuters it will also exit the market soon and is notifying customers to switch to other providers or transfer back to state-owned SP Group.