SG introduces temporary electricity contracting scheme

The scheme is one of the measures to enhance Singapore's energy security.

Singapore's Energy Market Authority (EMA) launched the new Temporary Electricity Contracting Support Scheme (TRECS) to help large consumers unable to obtain retail contracts. It was part of a set of measures to enhance Singapore's energy security and resilience in October 2021.

EMA has worked with generation companies and electricity retailers to offer one-month fixed price plans for January 2022 to large consumers under TRECS. Gencos will draw on EMA's standby fuel facility to generate electricity, reducing the risk that PNG disruptions might present to gencos. The three retailers participating in TRECS are Geneco (by Seraya Energy), Sembcorp Power, and Senoko Energy Supply. They have collectively offered around 300MW of power capacity for the scheme.

The second minister for trade and industry Tan See Leng said, "The world is undergoing an energy crunch, and electricity prices are rising in many countries. We cannot insulate Singaporeans completely from the higher prices. But we can and will continue to ensure that consumers have access to the electricity supplies and plans they need. TRECS is another step in this direction. We will also help vulnerable consumers cope with the higher costs. We hope that consumers can also help us in conserving electricity use where they can."

EMA will review if these measures are still needed by 31 March 2022.