Singapore Power was incorporated as a commercial entity in October 1995 to take over the electricity and gas undertakings from the Public Utilities Board. This was to be the first step towards the privatisation of the local power industry.
Singapore Power is among Singapore's largest corporations with an annual turnover of about S$5.1 billion. Employing about 5,871 employees (March 2001).
In April 2001, Singapore Power saw the transfer of ownership of two generators Senoko Power and PowerSeraya to Temasek Holdings and the energy management unit of PowerGrid to the Energy Market Authority.
This is part of the government's planned evolution of the power industry to separate the ownership of generation from that of transmission and distribution.
|Year end||Currency||Employee cost||Number of employees||Profit||Profit per employee||ROCE (percent)||Revenue (in millions)||Revenue in euros (millions)||Revenue per employee|