S Iswaran stresses importance of energy security [News]

March 3, 2012 by  
Filed under News

By Wong Siew Ying, Channel NewsAsia, 2 Mar 2012.

Second Minister for Trade and Industry S Iswaran on Friday said that as Singapore restructures its economy, it has to continue to strengthen its energy security.

This is to ensure that Singapore has a reliable and competitively-priced energy supply.

Mr Iswaran assured Members of Parliament that his ministry will continue to promote competition in the energy market.

“Over the next few years, our net generation capacity will increase by more than 2,000 MW or about 20 per cent of our installed capacity. The new capacity will be generated by the more efficient Combined Cycle Gas Turbines. This will enhance competition and help exert downward pressure on electricity prices,” he said.

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Source: Channel NewsAsia

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