The Energy Market Authority (EMA) is working with the industry to open up the electricity retail market to competition by the end of 2018, Iswaran said. This will bring choice to 1.3 million consumers, mostly households, he said.
EMA has been working to open the electricity market since 2001, and 33,000 commercial and industrial users can now choose their suppliers, The Business Times said.
EMA has also released two consultation papers asking for industry feedback. The first is on future power generation projects in Singapore and looks at the long term outlook for the market and any changes needed to regulations, along with a proposed framework for allocating land to new projects.
The second consultation document covers a proposed secondary gas trading market for domestic buyers and sellers. This would enhance Singapore's position as a hub for liquefied natural gas and gas trading activities, Iswaran told the newspaper.
