Tan See Leng on keeping electricity prices stable

Amid volatility and high prices in global energy markets, measures put in place by the Ministry of Trade and Industry and Energy Market Authority have helped to ensure uninterrupted energy supply and stabilise the Uniform Singapore Energy Price (USEP) without needing to bring the electricity market under state control in the short to medium term. The authorities will not hesitate to introduce new measures if needed. Second Minister for Trade and Industry Tan See Leng said this in Parliament on Tuesday (Aug 2), adding that Singapore has been actively seeking ways to diversify its energy sources and preserve its energy security. Dr Tan was answering an MP’s question on whether the Government would consider temporarily bringing the energy market under state control to keep electricity prices more stable for consumers and businesses.