Tan See Leng on review of licensing conditions for electricity retailers to protect consumers

The Energy Market Authority (EMA) launched a public consultation on proposed enhancements to the regulatory framework for electricity retailers on Feb 1. This consultation will close on Mar 3. The Government will study the feedback carefully and finetune the enhancements before implementing them. The proposed enhancements will give users greater assurance that their retailers will be able to fulfil their contracts, said Second Minister for Trade and Industry Tan See Leng. Giving this update in reply to an MP's question in Parliament on Tuesday (Feb 14), he said the Ministry of Trade and Industry and EMA have carefully calibrated the proposed enhancements to minimise the cost impact of complying with the new regulations. He pointed out that these enhancements are part of a broader set of moves to bring about a stronger and more secure power system, as well as help Singapore mitigate better the impact of global volatility on domestic consumers.