Tan See Leng on rising energy costs due to Ukraine crisis and help for businesses
The conflict in Ukraine poses a limited direct risk to Singapore's energy supplies as the country's energy sources are diversified, but it will still be affected by the resulting high and volatile global gas prices, said Second Minister for Trade and Industry Tan See Leng in Parliament on Thursday (Mar 10). As a result, electricity prices are likely to be elevated or increase even further. In his reply to an MP's question, he outlined measures taken by the Energy Market Authority, such as ensuring that electricity generation companies have sufficient fuel reserves and introducing the Temporary Electricity Contracting Support Scheme. Dr Tan said the Government is monitoring the situation very closely and will put further measures in place if necessary.
The conflict in Ukraine poses a limited direct risk to Singapore's energy supplies as the country's energy sources are diversified, but it will still be affected by the resulting high and volatile global gas prices, said Second Minister for Trade and Industry Tan See Leng in Parliament on Thursday (Mar 10). As a result, electricity prices are likely to be elevated or increase even further. In his reply to an MP's question, he outlined measures taken by the Energy Market Authority, such as ensuring that electricity generation companies have sufficient fuel reserves and introducing the Temporary Electricity Contracting Support Scheme. Dr Tan said the Government is monitoring the situation very closely and will put further measures in place if necessary.
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