#TD Energy Security
As Singapore is a small country with no natural resources, we import almost all our fuel and have limited energy options. At present, Singapore relies on imported natural gas for almost all our electricity production. These comprise Piped Natural Gas from Indonesia and Malaysia, and Liquified Natural Gas from around the world.
Developments around the world can and will impact supply and prices of energy. Since September 2021, global gas prices have increased significantly due to high demand and tight gas supply, caused by a variety of economic factors, including the rapid post-pandemic economic rebound that outpaced energy supply and the energy crisis following Russia’s invasion of Ukraine in 2022.
As we are reliant on imported natural gas to generate around 95% of our electricity, our domestic energy prices would not be immune from the volatility in global energy markets. Singapore has put in place measures to secure our energy supply, including: establishing a stockpile of liquid natural gas and bolstering our reserves, maintaining sufficient fuel for power generation, and offering short-term contracting options to provide relative price stability.
Our Singapore Green Plan adds Solar, Regional Power Grids and Low Carbon Alternatives to our natural gas options. Our solar panel deployment will provide at least 1.5 gigawatt-peak (GWp) by 2025 and two GWp by 2030 — about 3% of Singapore’s energy demand, or meeting the annual electricity needs of 350,000 households. This would mean generating enough energy to meet the needs of the population in Choa Chu Kang and Woodlands combined.
At the individual level, we can strengthen our nation’s defences against external shocks in two ways: One, by being prepared for possible emergency scenarios. Two, by making energy conservation a way of life through using energy-efficient appliances and adopting energy-saving habits such as: turning off appliances when not in use, switching to a fan after a short while on air-conditioning, replacing incandescent bulbs with LED lights as these use less energy and have a longer lifespan. Such actions may seem small but collectively they add to our nation’s resilience. We can all play a part. Together, we keep Singapore strong.
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