EMA - Energy Market Authority
EMA - Energy Market Authority
03/27/2024 | Press release | Distributed by Public on 03/27/2024 23:23
Celebrating Another Year of Powering Singapore
Featured Stories 28 Mar 2024
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As we mark our 23rd anniversary, we reflect on our journey in shaping Singapore's energy landscape.
\r\n"}}">As we mark our 23rd anniversary, we reflect on our journey in shaping Singapore's energy landscape.
1 April 2024 is the Energy Market Authority's (EMA) 23rd anniversary! Indeed, EMA was formed on 1 April 2001, with many changes and developments having taken place over these two decades.
\nWe have been working to power (literally) the economy and our daily lives. For many years now, we have taken pride to have one of the world's most reliable power systems. Most of all, our work aims to benefit businesses and consumers in Singapore by ensuring a secure and reliable energy supply at competitive prices.
\nWe take a walk down memory lane to commemorate this anniversary with some key milestones.
\n"}}" id="text-3f7b8e710c" class="cmp-text">1 April 2024 is the Energy Market Authority's (EMA) 23rd anniversary! Indeed, EMA was formed on 1 April 2001, with many changes and developments having taken place over these two decades.
We have been working to power (literally) the economy and our daily lives. For many years now, we have taken pride to have one of the world's most reliable power systems. Most of all, our work aims to benefit businesses and consumers in Singapore by ensuring a secure and reliable energy supply at competitive prices.
We take a walk down memory lane to commemorate this anniversary with some key milestones.
Promoting Competition Through Market Liberalisation
We begin with our journey towards market liberalisation for the electricity and gas sectors in the early years of the millennium. Fast forward to today, it is not just the businesses and industries that have a choice in purchasing their electricity supply. Since 2018, the Open Electricity Market initiative has also allowed households and small businesses to enjoy more options and flexibility when buying electricity.
\n"}}" id="text-807141de74" class="cmp-text">We begin with our journey towards market liberalisation for the electricity and gas sectors in the early years of the millennium. Fast forward to today, it is not just the businesses and industries that have a choice in purchasing their electricity supply. Since 2018, the Open Electricity Market initiative has also allowed households and small businesses to enjoy more options and flexibility when buying electricity.
Safeguarding Our Energy Security
With natural gas powering around 95% of our electricity supply, Singapore initially depended on importing piped natural gas from Indonesia and Malaysia for power generation. Since 2013, we have diversified our natural gas sources by importing liquefied natural gas (LNG) from around the world via the LNG Terminal on Jurong Island.
\nLooking ahead, there are plans to establish a second LNG Terminal by end of the decade to further enhance Singapore's energy security. If you are wondering why Singapore continues to rely on natural gas for power generation, it is because unlike intermittent renewable sources like solar, this fuel source provides the energy reliability and security that we have come to enjoy.
\n"}}" id="text-c1632c40ae" class="cmp-text">With natural gas powering around 95% of our electricity supply, Singapore initially depended on importing piped natural gas from Indonesia and Malaysia for power generation. Since 2013, we have diversified our natural gas sources by importing liquefied natural gas (LNG) from around the world via the LNG Terminal on Jurong Island.
Looking ahead, there are plans to establish a second LNG Terminal by end of the decade to further enhance Singapore's energy security. If you are wondering why Singapore continues to rely on natural gas for power generation, it is because unlike intermittent renewable sources like solar, this fuel source provides the energy reliability and security that we have come to enjoy.
Singapore's first LNG terminal officially opened in 2014.
\r\n"}}">Singapore's first LNG terminal officially opened in 2014.
The significance of energy security for Singapore cannot be overstated, especially in light of recent global events. During the global energy crunch of 2021 and 2022, the world witnessed sharp rises in global gas prices due to heightened demand and tight supply. The Russia-Ukraine conflict which started in 2022 exacerbated concerns about potential disruptions to gas supplies.
\nTo safeguard Singapore's energy security and resilience, several measures were implemented. One such measure was the establishment of the Standby LNG Facility which power generation companies could draw from to generate electricity if their natural gas supplies were disrupted.
\n"}}" id="text-00ace10c00" class="cmp-text">The significance of energy security for Singapore cannot be overstated, especially in light of recent global events. During the global energy crunch of 2021 and 2022, the world witnessed sharp rises in global gas prices due to heightened demand and tight supply. The Russia-Ukraine conflict which started in 2022 exacerbated concerns about potential disruptions to gas supplies.
To safeguard Singapore's energy security and resilience, several measures were implemented. One such measure was the establishment of the Standby LNG Facility which power generation companies could draw from to generate electricity if their natural gas supplies were disrupted.
Advancing Our Energy Transition
We are advancing towards a future powered by clean energy through the adoption of the Four Switches in our energy supply.
\n"}}" id="text-9182d997dd" class="cmp-text">We are advancing towards a future powered by clean energy through the adoption of the Four Switches in our energy supply.
Another significant development for EMA in recent years is the Singapore Energy Story, which was unveiled in 2019. With climate change posing an existential threat and our power sector contributing around 40% of the country's carbon emissions, it is crucial that we transition to cleaner energy sources and achieve Singapore's net-zero emissions target by 2050. This transition stands as one of our greatest challenges. With limited renewable energy options, Singapore imports almost of its energy supply. Our focus, therefore, has centred on the Four Switches - solar energy, regional power grids, low-carbon alternatives and natural gas - to navigate towards a more sustainable energy future.
\nWe are making efforts to maximise solar adoption even though our small land mass poses limitations in tapping on solar energy to fully meet our energy needs. To better support solar adoption and enhance power grid resilience, we saw the launch of Southeast Asia's largest energy storage system on Jurong Island in 2023.
\nWith abundant renewable energy sources in the region, we are increasingly turning to low-carbon electricity supply by connecting to regional power grids. In 2022, Singapore commenced its import of 100 megawatts of hydropower from Lao PDR as part of the Lao-Thailand-Malaysia-Singapore Power-Integration-Project (LTMS-PIP). Collaborating closely with various partners, we remain steadfast in our pursuit to diversify our sources of low-carbon electricity imports.
\n"}}" id="text-1c65854d08" class="cmp-text">Another significant development for EMA in recent years is the Singapore Energy Story, which was unveiled in 2019. With climate change posing an existential threat and our power sector contributing around 40% of the country's carbon emissions, it is crucial that we transition to cleaner energy sources and achieve Singapore's net-zero emissions target by 2050. This transition stands as one of our greatest challenges. With limited renewable energy options, Singapore imports almost of its energy supply. Our focus, therefore, has centred on the Four Switches - solar energy, regional power grids, low-carbon alternatives and natural gas - to navigate towards a more sustainable energy future.
We are making efforts to maximise solar adoption even though our small land mass poses limitations in tapping on solar energy to fully meet our energy needs. To better support solar adoption and enhance power grid resilience, we saw the launch of Southeast Asia's largest energy storage system on Jurong Island in 2023.
With abundant renewable energy sources in the region, we are increasingly turning to low-carbon electricity supply by connecting to regional power grids. In 2022, Singapore commenced its import of 100 megawatts of hydropower from Lao PDR as part of the Lao-Thailand-Malaysia-Singapore Power-Integration-Project (LTMS-PIP). Collaborating closely with various partners, we remain steadfast in our pursuit to diversify our sources of low-carbon electricity imports.
The distance between Laos and Singapore spans over 2,000km, which is more than the length of 18,000 football fields!
\n"}}" id="text-1ff6dd3f13" class="cmp-text">The distance between Laos and Singapore spans over 2,000km, which is more than the length of 18,000 football fields!
As we navigate towards a cleaner energy future, emerging low-carbon technologies are in our sight as well. Hydrogen, for example, shows potential in decarbonising our power sector as it does not emit carbon dioxide when used as a fuel for power generation.
\nUnveiled at the Singapore International Energy Week in 2022, our national hydrogen strategy outlines the path forward in harnessing this potential. Geothermal energy has also emerged as another renewable source of interest. If proven to be viable, it could play a part in diversifying and decarbonising Singapore's energy system.
\nAs our population and economy continue to grow, so does our demand for energy. But it cannot be a matter of simply getting more supply to meet demand. In fact, we have to manage how we use energy more efficiently such as through demand-side management initiatives. EMA launched a regulatory sandbox in 2022 to promote energy demand management. Through the Demand Response Programme for example,, participating businesses do their part to manage or shift their energy consumption to off-peak periods when activated and receive payments in return as a form of incentive. This helps to avoid straining the power system in meeting peak demand.
\nExciting times are ahead of us as we transition towards a clean energy future for Singapore! With each passing anniversary, we look forward to celebrating more milestones as we push on to power Singapore with greener energy sources.
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Find out more about our energy transition efforts here.
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As we navigate towards a cleaner energy future, emerging low-carbon technologies are in our sight as well. Hydrogen, for example, shows potential in decarbonising our power sector as it does not emit carbon dioxide when used as a fuel for power generation.
Unveiled at the Singapore International Energy Week in 2022, our national hydrogen strategy outlines the path forward in harnessing this potential. Geothermal energy has also emerged as another renewable source of interest. If proven to be viable, it could play a part in diversifying and decarbonising Singapore's energy system.
As our population and economy continue to grow, so does our demand for energy. But it cannot be a matter of simply getting more supply to meet demand. In fact, we have to manage how we use energy more efficiently such as through demand-side management initiatives. EMA launched a regulatory sandbox in 2022 to promote energy demand management. Through the Demand Response Programme for example,, participating businesses do their part to manage or shift their energy consumption to off-peak periods when activated and receive payments in return as a form of incentive. This helps to avoid straining the power system in meeting peak demand.
Exciting times are ahead of us as we transition towards a clean energy future for Singapore! With each passing anniversary, we look forward to celebrating more milestones as we push on to power Singapore with greener energy sources.
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