Energy Transition Measures and Other Amendments Bill

The Energy Transition Measures and Other Amendments Bill proposes to amend several acts governing Singapore's energy sector. The key points include:

• Establishment of the Future Energy Fund, designated to finance low-carbon energy projects and ensure energy supply security, managed by the Energy Market Authority.
• Amendments to the Electricity Act to broaden the definition of "transmit" to include cross-border electricity conveyance and enhance regulatory powers of the Authority for directing electricity supply and use during shortages.
• Imposition of new restrictions and requirements for gas procurement by generation entities, mandating them to purchase gas only from licensed importers, with necessary adjustments to existing provisions related to gas licensing.
• Introduction of penalties for unauthorized repurposing of energy infrastructure and modifications to management structures governing control interests in electricity and gas entities.
• Savings provisions to ensure smooth transitions and regulatory adjustments associated with the new legislation, including provisions for contracts established prior to the amendments.