Neil Parekh Nimil Rajnikant on Energy Transition Measures and Other Amendments Bill

Energy transition is not just an environmental imperative, but also an economic necessity for a small resource-constrained country like Singapore, said NMP Neil Parekh Nimil Rajnikant. Speaking in Parliament on Monday (Sep 9), he pointed out that embracing this transition offers Singapore the opportunity to position itself as a leader in clean energy innovation in Southeast Asia, potentially driving economic growth through new industries and technology. He said the provisions in the Energy Transition Measures and Other Amendments Bill will bring about numerous opportunities for Singapore businesses and the economy. He also raised concerns over the costs of implementing the regulatory changes, particularly for businesses that rely heavily on energy. He said small- and medium-sized enterprises (SMEs) may face significant costs during the transition and asked if there would be Government assistance or incentives to help these businesses adapt. He asked for a comprehensive update on the support measures available for SMEs. He also asked about the specific types of projects, as well as the allocation of funds, under the Future Energy Fund. Turning to electricity rationing, he wanted to know how businesses and consumers would be notified and whether there are plans to hold electricity rationing drills for industries.