Know More about Electricity Supply in Singapore

Singapore is a highly-urbanized Asian island metropolis. It is also a densely-populated country. With an area of only 700 square kilometres, the island city-state's human density is surpassed by Macau as well as Monaco amongst sovereign states. Given its location on the equator, a huge amount of power generation capacity is required. Singapore also has a booming industrial sector, which combined with high residential and commercial office demand. It has a current installed power generation capacity of about 10 GWe. Its annual consumption of 46 TWh.

In Singapore, 78% are supplied by importing natural gas piped from Malaysia and Indonesia. Most of the remainder come from oil. Also, there will be some minor exports of electricity to Malaysia. Singapore is going to complete a liquefied natural gas (LNG) terminal this year, which will greatly increase the share of gas in power generation. Fortunately, renewable sources such as solar energy can potentially augment energy supply in Singapore so that for large-scale deployment to generate baseload electricity reliably and also competitively remains a challenge, due to intermittency and space constraints.

The Energy Market Authority plans to fully open up the electricity retail market to competition. Therefore, everyone who consumes electricity in Singapore would be free to shop around for the best deals on the market in the second half of 2018.

This means consumers will have more choices to buy electricity from the best electricity retailers they think under customised price plans, which is similar to the way customers choose phone plans from telcos. Also, this will allow customers to get the best deal energy plan based on their usage patterns.

Currently, there are only 33,000 commercial and industrial consumers who with an average monthly electricity consumption of at least 2MWh. The amounts to a monthly electricity bill of about $450 and benefit from this flexibility. In July, this threshold was last lowered from 4MWh to 2MWh which will remain 1.3 million consumers, particularly households, are able at the regulated tariff with SP Services.

This free choice and competition among electricity suppliers in Singapore will give consumers more customised electricity supply, lower prices and better services.

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