Wednesday, February 17, 2010 ; Article of the week
SINGAPORE : Singapore needs to consider different options to diversify its energy sources, so as to make the country less vulnerable to price fluctuations and supply disruptions.
Some of the options to consider include importing coal and electricity. Another is to conduct a study on the possibility of having nuclear energy in the distant future.
A sub-committee under the Economic Strategies Committee came up with these proposals and released its report on Thursday.
Currently, about 80 per cent of Singapore's electricity is generated by gas-fired power plants.
To ensure energy security, the sub-committee suggested that Singapore should develop a smart energy economy.
Proposals to achieve that include developing Jurong Island as an energy-optimised industrial cluster, investing in critical energy infrastructure and further developing renewable energy sources like solar and biomass.
The sub-committee also suggested that the government consider refining the existing Green Vehicle Rebate such that it is based on the actual fuel efficiency or carbon emissions of the vehicle, which it currently does not take into account.
It also proposed that existing funding for research and development in energy be expanded to about S$500 million over five years.
The sub-committee pointed out that as traditional energy sources like oil and gas are limited, energy prices may increase in future. So having different energy options will be essential to ensure supply reliability and to better manage price volatility.
S Iswaran, chairman of the Economic Strategies Sub-Committee, and Senior Minister of State for Trade & Industry, said: "By enhancing the mix of sources available to us, we want to make sure there are competitive options available for industries and Singaporeans.
"If any one source has issues, there are other sources that can come in and pick up the slack. And overall, the system will be able to continue and the energy price will be competitive."
Using nuclear energy to generate electricity is another possible option. In fact, the sub-committee said countries like Vietnam and Thailand have announced plans to build nuclear power plants in the next decade, while Malaysia and Indonesia are considering this option.
The sub-committee made it clear that it is only proposing that Singapore begins to study the feasibility of having nuclear energy. It reiterated that this is a long-term plan for 10 years and beyond.
The key, it added, is that Singapore keeps abreast of the nuclear energy developments as well as to consider the different energy sources for the distant future.
Experts said studying the nuclear energy option is a good decision, and Singapore must find a nuclear generator that's safe for the country.
Importing electricity will also help Singapore's energy security.
"The best thing for Singapore is to consider investing in the country from which it is going to import (electricity from). By doing this, it can be certain that for example, through a joint venture with that country, create a type of generator which is environmentally-friendly," said Dr Hooman Peimani, head of Energy Security, Energy Studies Institute, NUS. - CNA /ls
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