SINGAPORE, March 12 (Xinhua) -- Singapore expects electricity prices to rise in the coming months as the ongoing conflict in the Middle East pushes up oil and gas prices, Minister-in-charge of Energy and Science and Technology at the Ministry of Trade and Industry Tan See Leng said Thursday, outlining multiple measures the government has in place.
Singapore imports natural gas to fuel about 95 percent of the country's electricity generation, Tan said in a Facebook post.
The Middle East is a major fuel-producing region, and the closure of the Strait of Hormuz due to the conflict could disrupt global crude oil and liquefied natural gas (LNG) supplies, likely pushing fuel prices higher in the near term, he said.
To safeguard Singapore's energy security, about half of the country's gas comes from regional pipelines, which are not affected, Tan said. He added that Singapore also imports LNG from diverse sources and is not overly reliant on the Middle East.
Singapore has established a fuel stockpile made up of gas and diesel that power generation companies can draw on if there is a severe disruption to gas supplies, Tan said.
The Energy Market Authority also requires that electricity-generating turbines be capable of running on both gas and diesel. All power plants are regularly tested to ensure they can switch to diesel generation if needed, he added.
"Households and businesses have a part to play because they can offset some of this impact by conserving electricity and adopting more energy-efficient appliances," Tan said. ■
