Senoko Energy is a Singaporean electric utility company and retailer. It is the largest power generation company in Singapore, accounting for approximately 20% of the nation's electricity supply. It also operates the Senoko Power Station, the nation's largest power plant by generation capacity. Since 2008, it has been owned by Lion Power, a consortium led by Japanese trading company, Marubeni.
History
Senoko Power was originally formed in 1977 as a power generation arm of the Public Utilities Board in Singapore. In the 1990s, it converted the Power Station from an open-cycle gas turbine power plant to Singapore's first combined cycle plant. It also began piping in natural gas from Malaysia to generate electricity in 1992. In October 1995, the electricity and gas departments of the PUB corporatised their holdings and vested the electricity and gas undertakings under the Singapore government's investment arm, Temasek Holdings. Within Temasek Holdings, the newly-formed Singapore Power was structured as a holding company for five separate subsidiaries, including PowerSenoko Limited. In April 2001, Singapore Power's power generation subsidiaries were fully divested to Temasek. That same month, a new statutory body, the Energy Market Authority, was established. PowerSenoko was renamed Senoko Power Limited and it was among the first three companies to receive a power trading licence from the EMA. In April 2004, the company began a $50-million power plant upgrade, which eventually made it the largest electricity producer in Singapore. In September 2008, a consortium led by Japanese trading company, Marubeni, acquired Senoko Power from Temasek Holdings for $3.65 billion. Other members of the consortium included Kyushu Electric Power, Kansai Electric, the Japan Bank of International Cooperation, and GDF Suez of France. The consortium is known as Lion Power Holdings with Marubeni and Engie holding the most shares at 30% each. Also in 2008, the company started converting three of its oil-fired turbines into two natural gas-fired turbines. The $1-billion repowering project was completed in 2013 and resulted in a 1-million ton reduction in carbon dioxide emissions annually. In 2010, the company underwent restructuring and became known by its current name, Senoko Energy Private Limited. In November 2016, the company became one of the founding members of the Singapore chapter of the World Energy Council. In April 2018, Senoko Energy began offering consumers individual energy plans for households and small and medium-sized enterprises as part of the EMA's soft launch of the Open Electricity Market in Singapore. It was one of 13 approved electricity retailers when the Open Electricity Market opened nationwide in May 2019. It was one of six that also generated its own power.
Subsidiaries
Senoko Energy has three subsidiaries: Senoko Energy Supply, Senoko Services, and Senoko Gas Supply. Senoko Energy Supply is the company's retail arm that sells electricity and other services to consumers in Singapore. Senoko Services leases out fuel storage tanks and provides terminal services. Senoko Gas Supply is a licensed gas shipper and retailer that is authorised by the EMA to ship gas throughout the country's gas network.
