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Singapore residents can play their part in dealing with the current energy crisis by using fans and taking public transport, Deputy Prime Minister Gan Kim Yong said on Tuesday (April 7).<\/p>\n
Delivering his ministerial statement about the impact of the Middle East conflict on Singapore in Parliament, he said that the effect of the conflict could persist for “some time”.<\/p>\n
The Government is continuing to strengthen international trade partnerships, and will also provide support to households and businesses, shared DPM Gan, who is also Minister for Trade and Industry.<\/p>\n
“All of us \u2014 Government, businesses and households \u2014 will need to do our part,” he stated.<\/p>\n
DPM Gan said households should endeavour to conserve electricity and use climate vouchers to purchase more energy-efficient appliances.<\/p>\n
“Households can…adopt simple measures such as using fans instead of air-conditioning, and taking public transport instead of driving,” he suggested.<\/p>\n
Meanwhile, businesses can conserve energy through schemes such as the Energy Efficiency Grant, and investing in more efficient equipment.<\/p>\n
Earlier in his speech, the minister touched on the “inevitable” rise in fuel and electricity costs in Singapore.<\/p>\n
The regulated electricity tariff, which was increased by 2.1 per cent to 27.27 cents\/kWh for the second quarter of the year, is based on fuel prices from January to mid March and only captures “a small portion” of the recent price surge sparked by the conflict, DPM Gan noted.<\/p>\n
“Fuel makes up about half of the tariff, so higher fuel prices will flow through to electricity prices.<\/p>\n
“We should therefore expect a much sharper increase in the next tariff adjustment, which will fully reflect the higher costs of fuel.”<\/p>\n
He warned that if the conflict lasts longer, higher inflation in Singapore’s source markets could lead to further increases in import prices over time.<\/p>\n
“These pressures will be felt by households in more expensive electricity, transport and daily necessities.”<\/p>\n
DPM Gan stressed that Singapore must follow through with the recommendations of the Economic Strategy Review to ensure the economy remains resilient and competitive.<\/p>\n
This includes building global leadership in key growth sectors such as advanced manufacturing, supporting firms to diversify and internationalise, and accelerating enterprise transformation through technology.<\/p>\n
“If we stay disciplined, deepen our trust in each other, preserve our capabilities, and use this period to sharpen our competitive edge, Singapore will be well placed not only to weather this crisis, but emerge from it stronger,” he concluded.<\/p>\n
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lim.kewei@asiaone.com<\/p>\n