Government 'will not hesitate' to roll out more measures if needed to support consumers as electricity prices rise

[The_King]

SINGAPORE: With global energy prices “likely to remain elevated” due to the Ukraine crisis, the Government "will not hesitate" to introduce further measures if necessary to support vulnerable consumers, said Second Minister for Trade and Industry Tan See Leng on Friday (Mar 4). 

Speaking in Parliament during the Ministry of Trade and Industry (MTI) Committee of Supply debate, Dr Tan responded to questions about the impact of the Russian invasion of Ukraine on Singapore’s energy supply. 

"While Singapore's sources of fuel are diversified, and the conflict in Ukraine poses limited direct risks to our supplies, we will be affected by the high or volatile global gas prices arising from the conflict," he added. 

The Government will "spare no effort" to ensure that Singapore's energy supply remains secure and reliable, said Dr Tan. 

“I understand the cost pressures faced by households and businesses. We will constantly continue to monitor market developments and we will not hesitate to introduce further measures if necessary, to support vulnerable consumers,” he said. 

Eligible households will receive U-Save rebates for utility expenses, and businesses can tap on loans offered by Enterprise Singapore, said Dr Tan. 

MTI and the Energy Market Authority (EMA) have established a standby fuel facility to ensure that generation companies have enough fuel reserves, he added. 

Generation companies can tap on the facility to produce electricity, said Dr Tan. The authorities also work with generation companies and electricity retailers to offer fixed-price contracts under the Temporary Retail Electricity Contracting Support scheme, he added.

The scheme has since been extended from March to May 2022, and MTI will extend it further if necessary, said the minister.

EMA is also working with these companies to offer longer-term, fixed-price contracts to consumers who want more price stability.

Singapore can also enhance energy efficiency and reduce energy consumption, he added. 

"In fact, we have rolled out a series of measures to encourage consumers to do so by redesigning electricity bills to benchmark individual consumption across other similar users, and mandating energy-intensive companies to implement energy conservation and energy management practices," he added. 

"We urge all consumers to use energy prudently, and to adopt energy conservation as a way of life."

Source: CNA/hw(gr)

[Satki]

maciam like need Ukraine Pres to say

 

price increase liao, please quickly increase vouchers

 

so your peasants will love you dip deep and vote you to eternity

 

 

[XianGe]

Die liao .. whenever they say help = make it more sexpensive

[XianGe]

5 hours ago, Satki said:

maciam like need Ukraine Pres to say

 

price increase liao, please quickly increase vouchers

 

so your peasants will love you dip deep and vote you to eternity

 

 

 

They can remove fuel tax but they dun wan... Instead go one big round use things like vouchers..

[socrates469bc]

1 hour ago, XianGe said:

 

They can remove fuel tax but they dun wan... Instead go one big round use things like vouchers..

 

becos pappies think in whole pappyland, no one study welfare economics.

 

limpeh almost fainted after mediacock reported how peasants r grateful for the u-save vouchers in an inflationary environment.

 

On 2/26/2022 at 11:29 PM, socrates469bc said:

 

limpeh was channel surfing on friday nite and chanced upon mediacock reporting how peasants r grateful for the u-save vouchers, especially the lower social strata.

 

nb, if zheng hu really want to help them, give them 25% discount on utility bills and conservancy charges instead of fixed amount vouchers.

 

zheng hu give them fixed amount rebate in an inflationary environment doesnt compensate the reduced purchasing power of a family resulting from an increased gst rate.

 

zheng hu give 25% discount and this is what welfare economics called 100% welfare transfer.

 

u smelly peasants really r kumgong until limpeh bo words.

 

 

 

 

[The_King]

it ok, just need to print more vouchers

 

please ppl, if electricity they dont use