Singapore's economic development has led to an increased demand for electricity.
is one of the highest in the world. The country produces most of its electricity with
and is therefore among the countries with the highest percentage of natural gas for electricity generation. Challenges such as
and digitalization led Singapore to switch from fuel oil to natural gas and develop renewable energies, to lower the emissions from power generation.
Electricity generation in Singapore
Since 2000, natural gas has been a priority energy source in the country's electricity generation, increasing from 19 percent of the fuel mix to the current 94 percent. It is considered the cleanest form of fossil fuel and has been used to avoid dependence on more polluting fuels. This measure was part of an overall strategy to reduce
greenhouse gas emissions. With limited capacity for alternative energy resources, Singapore is heavily reliant on
natural gas imports, which have increased significantly over the past decade. The Singapore Green Plan 2030 was launched to implement the strategy to reduce emissions from power generation. Industry, electricity, and heating sectors are the
major contributors to Singapore's greenhouse gas emissions. The government is prioritizing the development of solar energy, as other forms of renewable energy are limited due to geographical conditions. With one of the
highest population densities in the world, Singapore also has limited space for installations. Nevertheless, solar panels have been installed on high-rise rooftops, and
renewable energy capacity has been steadily growing over the past decade. Programs such as SolarNova have been launched to promote demand for solar power in government agencies, and
solar grid capacity has also grown rapidly in recent years.
Electricity providers
The electricity market is regulated by the Public Utilities Board (PUB), which was established in 1963 as the agency responsible for the supply of electricity, water, and gas in Singapore. Thirty years later, the PUB's piped electricity and gas distribution companies were corporatized to introduce competition in the energy sector. The Energy Market Authority (EMA) was then established in 2001 as part of the Singapore government's efforts to oversee the further liberalization of the energy market. Tuas Power Generation Pte Ltd holds the largest
market share of power generation in Singapore. In April 2018, EMA began the soft launch of the Open Electricity Market, where households and businesses can choose to purchase electricity from a retailer at a tariff plan that best suits their needs. Currently, there are nine open electricity market retailers. Consumers can also choose to stay with SP Group and purchase electricity at the regulated tariff.
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