According to the balance books, SingPower's profits were US$434 million, a figure that is more than double the previous year's US$192.4 million. This capital gain has shown that the company has adapted well to the newly deregulated electricity market. However, total group revenue fell 12.7% to US$2.5 billion on the back of customers switching to new retailers.
A company spokesperson said SingPower would only focus on its core strengths in power and gas transmission and distribution, as it was unsure of the ongoing market reforms and the complex environment that such changes bring about.
