The Parliament of Singapore has passed a new bill granting the Energy Market Authority (EMA) additional authority to secure the country’s power supply. The move is meant to ensure Singapore’s energy security and stability, as the country aims to decarbonise its electricity industry to tackle climate change. Under the new bill, EMA will be able to acquire, construct, control, and operate essential infrastructure. These will include transmission infrastructure, energy storage solutions (ESS) and open cycle gas turbines (OCGT).
The agency will also be able to operate essential infrastructure directly or through a subsidiary where necessary. The Energy (Resilience Measures and Miscellaneous) Bill will broaden the EMA’s borrowing capacity, allowing it to issue bonds in addition to commercial or government loans to fund vital infrastructure improvements.
Another amendment will strengthen the EMA’s regulatory powers under the Electricity Act, allowing it to enact policies and strategies aimed at reducing greenhouse gas emissions in the import, export, generation, transmission, and distribution of electricity. Other modifications under the bill will make it illegal to damage critical infrastructure such as pipelines like cable tunnels.
