WEST ASIA CONFLICT: SINGAPORE EXPECTS HIGHER ELECTRICITY PRICES IN NEAR TERM

SINGAPORE, March 12 (Bernama) -- Singaporeans are expected to face higher electricity prices in the coming months as global gas prices climb due to the ongoing conflict in West Asia, said Minister-in-charge of Energy and Science and Technology, Tan See Leng.

He urged households and businesses in the republic to play their role in offsetting the impact of rising energy prices by conserving electricity and adopting more energy-efficient appliances.

Tan noted that while some measures are in place to ensure Singapore has sufficient energy, global gas prices continue to rise due to the conflict.

"With the global environment becoming less certain and stable, fuel disruptions and price fluctuations are more frequent.

"These effects are felt in Singapore, where we import all of the natural gas needed to fuel about 95 per cent of our electricity generation," he said in a Facebook post on Thursday.

Tan also stressed that the government stands ready to support households and businesses as necessary.

"Announced at Budget 2026, eligible Housing and Development Board (HDB) households will receive 1.5 times the regular amount of U-Save rebates, or up to S$570 (S$1=RM3.06) in the financial year.

"As the situation in West Asia is evolving, we are watching closely, especially for secondary effects of disruption," he noted.

On related development, Tan noted that Singapore has established a fuel stockpile of gas and diesel that power generation companies can use if gas supplies are severely disrupted, as well as diversify the sources of imported Liquefied Natural Gas (LNG).

He added that these measures are among the government's multiple lines of defence to safeguard Singapore’s energy security.

-- BERNAMA