By PacificLight Power | 11 October 2016
SIEW 2016: 5Qs with Yu Tat Ming, CEO, PacificLight Power
About Yu Tat Ming
Prior to joining PacificLight, Mr Yu was Vice President, Asset Management, Senoko Power Ltd, where he undertook a leading role in the capital project development, operation and maintenance of Senoko Power Station. During his 20 year tenure at Senoko, Mr Yu was also responsible for the construction of five generating units in addition to a major repowering project.
1. What are PacificLight’s expansion plans in Singapore’s energy market?
Since the commencement of commercial operations in 2014, PacificLight has successfully established its position in the Singapore’s energy market, generating 9% of the national electricity needs in 2015. We have also expanded our retail customer base considerably and implemented a number of innovative schemes to provide our customers with the ability to have their energy needs met through a combination of conventional and solar power.
Our customers are able to take advantage of our flexible pricing plans and exceptional customer service. Full retail competition in 2018 will enable an additional 1.3 million consumers to choose their retailer. PacificLight is well-poised to deliver our value-added services. /p>
2. What opportunities does Singapore’s solar ambition bring for energy retailers?
Singapore’s move to increase solar capacity allows retailers such as PacificLight to expand beyond traditional retail packages to include renewable power into their energy mix.
PacificLight Energy’s strategic partnership with Renewable Energy Corporation (REC) to offer a new hybrid energy solution to electricity consumers in Singapore is one such example. The collaboration – called the “PLEdge to RECharge Green Energy Program” – is the first retailer-led initiative in Singapore. It encourages the adoption of solar power regardless of roof space.
Customers can choose an ownership or leasing arrangement model for solar panels provided by REC, and the desired proportion of energy generated by the solar panels. The remaining energy requirements are met by PacificLight through our natural gas-fired power station, which uses one of the most efficient power generation technologies.
In this way consumers are assured of a continuous supply of electricity which is not subject to weather conditions and at the same time contributes towards a cleaner environment.
3. How can private-public partnerships advance sustainable energy in Singapore?
The roll out of large scale solar installation due to Economic Development Board’s SolarNova programme is an example of a private-public partnership to advance renewable energy.
At PacificLight, we work in tandem with the government and public organisations to launch several notable initiatives.
In October 2015, PacificLight launched the PacificLight Centre of Excellence, which aims to promote energy efficiency through:
- Enhancing Plant Reliability and Innovation programmes to maximise the efficiency of PacificLight’s 800MW power plant on Jurong Island; and
- Promoting Retail Innovation initiatives to develop critical and sustainable value-added services for PacificLight’s customers.
With Economic Development Board’s support, the Centre of Excellence also focuses on developing innovative and value-added products as well as exploring new technologies that encourage green and efficient energy use in Singapore.
4. How can we attract talent and ensure their skillsets remain relevant in a rapidly changing energy landscape?
Singapore’s electricity landscape has changed significantly over the decades from a vertically integrated utility towards a fully liberalised market. Not only has the business model changed, the scope for new products and services has also widened. This has created an environment for talented individuals to excel and to invest his career in this vibrant industry.
At PacificLight, we believe in grooming and developing each individual to achieve his/her best through leadership development, coaching, mentoring and on-the-job training at all levels of the organisation.
Continuous learning has now become an existential requirement in a highly competitive. We therefore constantly look out for new business opportunities and new ways of doing things. Staff will feel motivated as they are faced with new challenges each day. We therefore strongly encourage our staff to identify and propose areas for improvement within all areas of the organisation so that individually and as a company, we constantly evolve and improve.
5. What are your thoughts on the SIEW 2016 theme “New Energy Realities”?
The SIEW 2016 theme brings to the fore some of the new energy realities that industry players, both locally and internationally, are facing today.
With the UN predicting an increase in world population from 6.7 billion in 2011 to 8.7 billion by 2035, the world is set to see a strong growth in energy demand. Additionally, this will be heightened as standards of living improve, and people look towards adopting greener technology – such as electric vehicles – for their transportation or daily needs.
In an increasingly crowded market, there is added pressure on energy providers to meet the needs of a rising generation of consumers who are looking for sources of clean and renewable energy. According to Bloomberg’s New Energy Outlook, it is estimated that by 2040, zero-emission energy sources will make up 60% of installed capacity. Wind and solar will continue to be strongly featured, and will account for 64% of the 8.6TW of new power generating capacity added worldwide over the next 25 years.
There is no better time than now to drive the conversation on Asia’s new energy realities, and the evolving energy landscape.