Asia-Pacific
With a power score of 2.06, Singapore ranks number 37 among Emerging Markets and number 9 in the Asia-Pacific region
Power score
2.06/5
Score over time
2021 - 2024
Singapore has a power score of 2.06, which puts it at rank 37 in the Emerging Markets power ranking. In comparison to 2023, Singapore has improved in the power rankings by 1 place, from rank 38, to rank 37.
At 2.06, the power score of Singapore is better than than the regional average of 1.94 in the Asia-Pacific region and puts it at rank 9 in the region.
Singapore implements policies in 4/9 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Net metering, and Renewable Energy Certificates.
The average electricity price in Singapore has increased from 176.27 USD/MWh in 2022 to 238.04 USD/MWh in 2023. Since 2017, the average electricity price in Singapore has fluctuated between 115.12 USD/MWh (2017) and 238.04 USD/MWh (2023).
The top amount of capacity installed in Singapore in 2023 was in Natural Gas at 81.31%, down from 83.53% in 2022. The technology with the biggest increase in capacity installed in 2023 was Small-scale PV - commercial at 5.8%, up from 4.02% in 2022.
The top amount of electricity generated in Singapore in 2023 was in Natural Gas at 94.39%, up from 92.13% in 2022.
Investment in clean energy in Singapore was around $ million in 2023, a decrease of 100% from 2022 ($145.82 million). Between 2018 and 2023, the highest investment in clean energy was in 2019 at $1,969.12 million, while the lowest was in 2020 with $141.08 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.