SINGAPORE: Electricity prices in the short term are unlikely to be affected by Indonesia cutting natural gas exports to Singapore, said Minister for Energy, Trade and Industry (Energy and Industry) Tan See Leng on Sunday (Oct 25).
Speaking to reporters after the People’s Action Party (PAP) conference, Dr Tan reiterated that the reduction amounts to less than 2 per cent of Singapore’s total daily gas needs.
“In the short term, the prices would not really affect that much. In fact, if anything at all, we should be looking at the world prices because a lot of our gas, the unit price is actually pegged to the movement of some of the key global index itself,” he said.
“We have always looked at energy as a very critical part of our entire country’s economy, sustainability, and also our survival. Energy is existential for all of us, so we have put in place contingency measures, insurance measures, to ensure that our energy supply is diversified.”
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