SilverCloud Energy to exit Singapore's retail electricity market amid soaring gas prices

SP A/S

14/10/2021 11:45

By Roslan Khasawneh
    SINGAPORE, Oct 14 (Reuters) - SilverCloud Energy Pte Ltd
will soon be exiting Singapore's retail electricity market amid
soaring gas prices, a company representative told Reuters in an
emailed response. 
    "At the moment we are busy with informing our customers to
switch to other electricity retailers or transfer back to SP
Group with the regulated tariff rate in order to minimize their
cost," said the company representative.
    The company's exit marks the latest casualty among
independent electricity retailers in Singapore amid rocketing
wholesale energy prices.
     iSwitch Energy, one of Singapore's largest independent
electricity retailers announced this week it was exiting the
market and according to company sources at least three others
have stopped accepting new clients.  urn:newsml:reuters.com:*:nL4N2RA0SS

 (Reporting by Roslan Khasawneh)
 ((roslan.khasawneh@thomsonreuters.com;))