Singapore
With a power score of 1.92, Singapore ranks number 38 among emerging markets and number 63 in the global power ranking.
- Emerging markets
- Asia-Pacific
1.92 / 5
Power score
+13 places
Global power rank change
Overview
Singapore has a power score of 1.92, which puts it at rank 63 in the global power ranking, and rank 38 in the emerging markets power ranking. In comparison to 2021, Singapore has deteriorated in the power rankings by -3 places, from rank 60, to rank 63.
At 1.92, the power score of Singapore is better than the regional average of 1.88 in the Asia-Pacific region.
Regional power score comparison
Power
Power policy
Singapore implements policies in 3/6 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Feed-in Tariff, Net Metering, Import tax incentives, VAT incentives.
Power policies
Power prices and costs
The average electricity price in Singapore has increased from 141.53 USD/MWh in 2021 to 176.27 USD/MWh in 2022. Since 2017, the average electricity price in Singapore has fluctuated between 115.12 USD/MWh (2017) and 176.27 USD/MWh (2022).
Power market
The top amount of capacity installed in Singapore in 2022 was in Natural Gas at 84.54%, down from 87.06% in 2021. The technology with the biggest increase in capacity installed in 2022 was Biomass & Waste at 3.94%, up from 2.09 in 2021.
Installed capacity (in MW)
Electricity generation (in GWh)
The largest electricity generating technology in Singapore in 2022 was Natural Gas, generating some 95.6% of electricity, down from 97.27% in 2021. The technology with the biggest increase in eletricity generation in 2022 was Biomass & Waste at 3.09%, up from 1.97% in 2021.
Investment in clean energy in Singapore was around $145.82 million in 2022, an increase of 0.46% from 2021 ($145.15 million). Between 2017 and 2022, the highest investment in clean energy was in 2019 at $1969.12 million, while the lowest was in 2017 with $37.26 million.
Utility privatisation
Which segments of the power sector are open to private participation?
Type
Question
Availability
Wholesale power market
Does the country have a wholesale power market?
Doing business and barriers
Type
Question
Availability
Currency of PPAs
Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
Type
Question
Availability
Bilateral power contracts
Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
Type
Question
Availability
Fossil fuel price distortions - Subsidies
Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
Type
Question
Availability
Fossil fuel price distortions - Taxes and carbon prices
Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
Transport
Transport policy
Singapore implements policies in 5/9 transport policy categories tracked by Climatescope, including Clean transport target, National ICE phase-out, EV purchase grant/loan incentive, EV VAT reduction/exemption, EV import tax reduction/exemption, EV income tax reduction/exemption, EV recurring tax reduction/exemption, EV charging infrastructure target, E-bus target.
Transport policies
Type
Question
Availability
Fuel economy standards
Does the country have a fuel economy standard in place?
