Singapore Expertise

  • Power demand and supply outlooks (NEMS specific analysis)

  • Institutional and regulatory frameworks (Market design & reform)

  • Generation mix and fuel security (transition)

  • Private sector participation

  • Renewable energy (Investment) and efficiency promotion

  • Cross-border power trade opportunities

Governance & Regulation

The Singapore power sector is governed and regulated by the Energy Market Authority (EMA), a statutory board under the Ministry of Trade and Industry. EMA is both a policy maker and regulator, responsible for licensing, system planning, reliability standards, and oversight of competition in the electricity market. Singapore also implements a carbon tax under the Carbon Pricing Act, which influences long-term energy policy and decarbonization strategies.

Market Structure

Singapore operates the National Electricity Market of Singapore (NEMS), launched in 2001 as Asia’s first fully liberalized electricity market. NEMS is a gross pool, real-time market where power generators compete to sell electricity into the wholesale pool, and retailers compete to serve end-users.

In 2018, the Open Electricity Market (OEM) was fully rolled out, extending retail choice to all consumers, including households. This gives customers the ability to choose their electricity retailer, fostering greater competition, price transparency, and innovation in retail products.

Private Participation & Renewables

The generation sector is entirely privately owned and operated, with multiple independent generation companies competing in NEMS. Singapore’s renewable energy potential is limited by land constraints, but the government has set a target of at least 2 GWp of solar capacity by 2030. Initiatives include rooftop solar, floating solar on reservoirs, and deployment across industrial estates.

Beyond solar, Singapore is exploring hydrogen, carbon capture, and regional renewable imports as part of its decarbonization roadmap. Energy efficiency is promoted through schemes like the Green Mark certification for buildings and the Energy Conservation Act, which requires large energy users to adopt energy management systems.

Industry Participants

  • Generation Companies (GenCos): Major players include Senoko Energy, Tuas Power, YTL PowerSeraya, Keppel Merlimau Cogen, PacificLight, and Sembcorp.

  • Retailers: Dozens of licensed retailers compete in the Open Electricity Market, offering fixed, variable, and green energy contracts.

  • System Operator: The Power System Operator (PSO), under EMA, ensures grid reliability and dispatch coordination.

  • Transmission & Distribution: Managed by SP Group, which owns and operates the national grid and provides universal access.

Cross-Border Trade Opportunities

Singapore has no domestic fossil resources and relies heavily on imported natural gas (both piped and LNG). To diversify, it is pursuing regional power trade through the ASEAN Power Grid initiative. Current projects include the Laos–Thailand–Malaysia–Singapore Power Integration Project (LTMS-PIP), which imports hydropower into Singapore, and bilateral plans for imports from Malaysia and Indonesia (solar, hydro).

These imports are expected to reach up to 4 GW by 2035, significantly diversifying the fuel mix and reducing reliance on natural gas.