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The Changing Energy Landscape

The Changing Energy Landscape. Economic Competitiveness. Energy Security. Environment / Climate Change. New Opportunities. Re-Emergence of Energy Security. Political risk. Increasing cost of production. Energy Investments. Narrowing of supply-demand gap. Strong demand.

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The Changing Energy Landscape

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  1. The Changing Energy Landscape Economic Competitiveness Energy Security Environment / Climate Change New Opportunities

  2. Re-Emergence of Energy Security Political risk Increasing cost of production Energy Investments Narrowing of supply-demand gap Strong demand

  3. Energy Security in Singapore Singapore’s Crude Oil Imports (2006) Singapore’s Electricity Fuel Mix (1H2007) Source: EMA Source: IE Singapore

  4. No Silver Bullet 2004-2030 CAGR Global Primary Energy Supply • Strong growth in renewable energy, but contributions still small • Nuclear • Fossil fuels will still contribute around 80% of global energy supply • Improve efficiency • Clean use of fossil fuels • Carbon sinks MTOE 6.6% 1.3% 2.0% 0.7% 2.0% 1.3% 1.8% Source: International Energy Agency

  5. Establishment of Energy Policy Group Energy Policy Group Environment / Climate Change (MEWR) Energy Security (MFA) Industry Development (EDB) Economic Competitiveness (MTI)

  6. National Energy Policy Framework: Energy for Growth Economic Competitiveness Environmental Sustainability Energy Security Manage Trade-Offs Exploit Convergence STRONG AND SUSTAINED ECONOMIC GROWTH

  7. Energy Policy Group:Six Key Strategies 1. Promote Competitive Markets 2. Diversify Energy Supplies 3. Improve Energy Efficiency 4. Develop Energy Industry and Invest in Energy R&D 5. Step up International Cooperation 6. Develop Whole-of-Government Approach

  8. Strategy 1: Promote Competitive Markets • Competitive markets to help keep energy affordable • Electricity Vending System to enable full retail contestability • Encourage the market to innovate • Correct for market failures • Vibrant and competitive electricity and gas markets • Electricity Vending System

  9. Strategy 2: Diversify Energy Supplies • Energy diversification to protect against supply disruptions and price increases • Avoid becoming overly dependent on any energy supplier • In competitive markets, companies have incentives to diversify • Government’s role is to create an open and flexible framework that allows diversification • But specific policies may still be necessary at times when market does not provide for sufficient diversity Import of LNG by 2012

  10. Facilitating Introduction of New Energy Technologies • Research and development • A*STAR’s Energy Technology R&D Programme • SINERGY Centre • National Research Foundation $170m • Test-bedding and demonstration • $17 m Clean Energy R&D and Testbedding Programme (CERT) • $5 m Market Development Fund • Reducing costs and facilitating grid connection • Reduce cost of plugging into grid and participating in the electricity market • Publication of “Handbook for Photovoltaic Systems”

  11. Keep Our Energy Options Open • Coal • Cost competitive • Pollution controls • CO2 emissions • Ash disposal • Hydroelectric, geothermal & wind • Cost competitive and clean • But not available or viable in Singapore • Solar • Clean, plenty of sun in S’pore • But high cost and intermittent supply are key constraints • Nuclear power • Stringent site requirements • Need for long term solution for disposal of nuclear waste • Biomass & waste-to-energy • Cost competitive and clean • Limited potential

  12. Strategy 3: Improve Energy Efficiency Intelligent Lighting • Using energy more efficiently can reduce our dependence on imports and enhance our security • Also reduces carbon intensity, air pollution and business costs • Establishment of Energy Efficiency Programme Office, led by NEA • Development of comprehensive national energy efficiency plan • Sectoral approach – power generation, industry, transport, buildings and household sectors Tri-generation System Smart Meters

  13. Strategy 4: Build Energy Industry and Invest in Energy R&D DRIVERS MARKETS Energy Solutions Transport Trade (fuels, carbon) Energy Services SECURITY Power Deliver Integrate GridManagement Test & Integration CLIMATECHANGE URBAN- ISATION Industry Fossil Energy Non Fossil Energy ECON GROWTH Gas Building Biomass Fuel Cells Solar Oil Coal Wind Others Strong technology foundation

  14. Widen our Lead in Oil and Develop New Verticals Gas Oil H2 /Fuel Cells Biomass Solar

  15. New R&D Programmes NRF’s Clean Energy Programme EDB’s Clean Energy Research & Test-bedding Programme A*STAR’s Energy Technology R&D Programme A*STAR’s SINERGY Centre

  16. Strategy 5:Step up International Cooperation • Promote regional and international energy cooperation to further our energy interests • Promote security of vital energy sea lanes in the region • Promote Singapore as a centre of energy research and excellence

  17. Strategy 6: Develop Whole-of-Government Approach to Energy Policy Energy Policy Group MTI Energy Division Environment / Climate Change (MEWR) Energy Security (MFA) Industry Development (EDB) Economic Competitiveness (MTI) Energy Efficiency Programme Office Clean Energy Programme Office

  18. Thank You

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