Utility PowerSeraya awarded license to import electricity from Malaysia under trial

SINGAPORE (Reuters) - Utility YTL PowerSeraya said on Monday it has been appointed as the electricity importer for a two-year trial to import 100 megawatts of electricity from Malaysia into Singapore through existing interconnectors.

The appointment follows a request for proposal process held in March by Singapore's Energy Market Authority (EMA), the company said in a statement.

The firm said it will work closely with its Malaysian-based parent company, YTL Power International.

"The appointment marks a significant step towards the success of an ASEAN power grid, where electricity imports may eventually form a key part of Singapore's energy mix," said John Ng, chief executive of YTL PowerSeraya.

"We look forward to working closely with EMA to refine all technical settings and regulatory arrangements under the Electricity Import Framework during this two-year trial, which is expected to commence in early 2022."

YTL PowerSeraya Group has two subsidiaries in Singapore. One is the retail arm providing electricity to homes and businesses while another, PetroSeraya, is the group's fuel management arm.

(Reporting by Jessica Jaganathan; editing by Richard Pullin)