Singapore’s electricity demand is driven by factors such as weather patterns and economic activities. Our system peak demand has been increasing steadily and is projected to grow at a Compound Annual Growth Rate (“CAGR”) of 2.4% - 4.8% (or 2.0GW – 4.3GW) from 2025 to 2034.
Base Electricity Demand Forecast (“EDF”) adopts a macro-econometric approach based on forecasted GDP growth, while the Upper-bound EDF reflects a higher demand scenario to cater for potential demand from additional investments in energy-sector. If demand grows in line with the Upper-bound EDF, the reserve margin for 2031 and beyond is projected to fall below the 27% reserve margin required to ensure electricity supply reliability. Thus, EMA is launching this request for proposal (“RFP”) for the private sector to build, own and operate (“BOO”) new generation capacity in 2031.
In line with EMA’s plan to move towards a supply planning horizon of six years, this RFP will also call for private sector to BOO new generation capacity in 2032 to serve up to the Upper-bound EDF, subject to interest from the private sector.
Please refer to the attached document for more details.
