Channel NewsAsia has reported that Singapore might import electricity from the region to diversify its energy mix.
Singapore looking to import electricity
SINGAPORE: Minister in the Prime Minister’s Office, S Iswaran, said Singapore is seriously considering electricity imports from its neighbours to add to its energy mix.
Speaking at a regional forum, he said Singapore is currently reviewing its regulatory framework and studying various trading models that could facilitate electricity imports in the medium term.
This could catalyse more opportunities for energy cooperation’ across ASEAN.
This will help ensure competitively or lower-priced energy prices, and improve Singapore’s energy security.
Mr Iswaran, who is also the Second Minister for Trade and Industry, said ASEAN governments must come together and take the lead to ensure that energy does not become a limiting factor in the region’s growth.
He said it’s imperative that infrastructural connectivity be speeded up through projects such as the ASEAN Power Grid and the Trans-ASEAN Gas Pipeline.
The case for regional energy cooperation ‘has never been stronger’ he added.
The minister said an aggregated regional energy market would be better able to attract investments as there would be greater demand assurance.
Image taken from Nathan Chantrell