Singapore Proposes Energy Legislation for Power Stability and Transition
Key Ideas
- Proposed laws introduced to allow EMA to direct power rationing in emergencies, focusing on maintaining power system stability.
- Singapore aims to strengthen energy market regulation and establish the Future Energy Fund to support energy transition.
- EMA to regulate central gas entity for improved gas procurement, ensuring energy security and reliability.
- Proposed changes aim to enhance sustainability regulation for buildings and increase efficiency in energy-intensive buildings.
The Energy Market Authority (EMA) in Singapore has proposed new legislation to enhance the country's ability to maintain power system stability during emergencies and navigate the energy transition. This move follows the global energy crisis of 2021-2022, highlighting the risks of power supply disruptions. Singapore, heavily reliant on natural gas for electricity, experienced challenges with soaring electricity prices leading to retailer exits. The Energy Transition Measures and Other Amendments Bill introduced aims to introduce new regulations, empower EMA in regulating the power sector, and establish the Future Energy Fund with an initial $5 billion injection to support low-carbon energy sources like hydrogen. The bill also involves setting up a central gas entity for centralized gas procurement to ensure energy security.
The legislation proposes giving EMA the authority to direct power rationing in severe fuel shortages, engage consumers, and prioritize critical loads during emergencies. Additionally, it allows for infrastructure access agreements for energy companies to ensure reliability. EMA will oversee the recovery of costs for new initiatives with caution to keep energy costs controlled. The bill also addresses building regulations to enhance environmental sustainability and mandate efficiency improvements in energy-intensive buildings. Owners seeking to repurpose key energy infrastructure will require EMA's approval to ensure overall energy security and system reliability. These proposed changes aim to modernize Singapore's energy landscape and foster a more sustainable and secure energy future.
Topics
Utilities
Infrastructure
Sustainability
Energy Transition
Legislation
Regulation
Energy Crisis
Power Stability
Government Fund
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