Yu Tat Ming was appointed Chief Executive Officer of PacificLight in September 2009 and is responsible for the business strategy and future direction of the company.
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.
Mr Yu also previously worked for CLP Holdings Limited as station manager of its largest coal-fired power station.
1. In the context of changing energy landscapes across the globe, how can Southeast Asia and Singapore remain competitive?
Singapore has already taken a number of steps to improve its competitive position in the face of a shift in the global energy landscape. With the establishment of the LNG terminal, the development of the electricity futures market and the ongoing, phased approach to retail contestability, it has provided Singapore a solid foundation to further build its place as a regional energy hub. In addition, its critical geographic position and accessibility will ensure Singapore’s role in the ASEAN community of nations continues to be significant.
Looking forward, we foresee collaboration across ASEAN will be the key to ensuring Singapore and other nations, being able to balance the often competing priorities of growing energy demand, powering economic growth and securing a diverse and sustainable fuel mix. The continued deregulation of markets will also help encourage competition. This will benefit energy users and support business and industry innovation to match demand for new technologies and products.
2. What challenges and opportunities do technological advances in energy infrastructure and systems provide?
Current technological innovation and advancement is happening at an unprecedented level. For the energy industry this means improvements in energy infrastructure and processes which ultimately results in improved efficiency.
PacificLight see these developments as a significant benefit, recognising that initiatives which maximise efficiency reduce our impact on the environment, while at the same time reducing costs for our customers. For example, our LNG fuelled, 800MW Combined Cycle Gas Turbine power plant on Jurong Island in Singapore uses state-of-the-art technology and employs various efficiency-boosting features, making it one of the most efficient power plants operating not just in Singapore but in the region. As a result, we have been registered as a Clean Development Mechanism (CDM) project in Singapore under the United Nations Framework Convention on Climate Change - a scheme recognising projects that contribute to sustainable development and emissions reduction.
The rapid pace at which technological change is occurring can be challenging for deployment into industry. In the energy sector we need to ensure we embrace new technology while at all times ensuring security and reliability of electricity supply to our customers.
Business leaders should work hand-in-hand with the government sector to continue enhancing existing systems, exploring new technologies/ways of doing things and develop capabilities to meet changes in market demand. This will not only increase efficiency and raise productivity, but also help to foster greater innovation as the energy industry further progresses.
3. What does rising energy demand across Asia mean for electricity users?
Energy demand is predicted to increase dramatically across Asia in the next decade. As energy companies work to meet that demand, increased competition across markets will follow. This brings a number of benefits to electricity users, including increased product choice and innovation, more competitive pricing and better customer service.
We consider excellent customer service a critical test for our company in the face of increased competition. We believe that excellent customer service is not just about how we interact with our customers, but is also about providing our customers with the best products for their needs while delivering competitive pricing.
In addition, as the role of renewable energy is expected to increase significantly over time along with the increase in energy demand, solutions that offer customers access to renewable energy into the fuel mix will become more highly sought after.
4. How can government, industry and business work together to ensure the energy industry remains resilient in an era of global change and uncertainty?
One of the key issues currently facing the energy industry is to maintain low operating costs while ensuring the same level of reliability and efficiency. This places pressure on businesses to focus on efficiency and maximising productivity. Simultaneously, attention must be given to training future generations and developing specialised skills to ensure the industry remains resilient and able to adapt to change.
The Singapore government has put in place incentives and schemes to support businesses in their efforts to raise productivity. The government has also placed significant emphasis on training with its SkillsFuture programme, which is fully supported by PacificLight.
Within the energy industry, the Energy Market Authority has to ensure workers are equipped with the relevant skills and training. Businesses such as PacificLight are able to participate in industry initiatives that promote collaboration and share expertise while encouraging employees to continue developing their skills.
More can be done within the energy industry and we will continue to work together with Energy Market Authority to enhance our systems and develop our staff so that we are able to adapt and respond to market changes.
5. What role can energy retailers like PacificLight play in encouraging the uptake of renewable energy sources as an essential part of a diversified and secure fuel mix?
Governments will continue to play a significant role in encouraging the adoption of renewable energy with policy, but business and industry must also contribute to the development of innovative energy solutions, which offer users greater access to renewable energy sources. Retailers like PacificLight Energy have a direct relationship with energy users, influencing their energy consumption habits while also listening to their needs and providing value-added products in response.
Customers are increasingly looking for solutions that deliver greater choice and competitive pricing. Recognising this, we work to provide our customers access to options that implement renewable energy into the fuel mix. In particular, our tailored energy package, known as the Pledge to Recharge Green Energy Programme, enables customers to select the proportion of their electricity that is generated by solar energy and LNG, regardless of their roof space. This allows us to support the adoption of solar energy as a clean, renewable energy source along with electricity generated from efficient and reliable combined cycle gas turbines in Singapore in a cost-competitive and sustainable way.