ANNOUNCEMENT 20 Sep 2018

On 20 September 2018, the Energy Market Authority announced the provision of financial support to develop the energy sector in Singapore.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Energy Market Authority of Singapore, Boosting Innovations and Building a Future-ready Workforce for the Energy Sector, 20 September 2018. Available at: https://www.ema.gov.sg/media_release.aspx?news_sid=20180919ygPkGNjxyt64

Inception date: 20 Sep 2018 | Removal date: open ended

Financial grant

On 20 September 2018, the Energy Market Authority announced the provision of financial support to develop the energy sector in Singapore.

The SGD 15 million (USD 11 million) grant was awarded to 7 projects in collaboration with a number of higher learning institutions and firms in the energy sector. The seven projects aim to enhance the power system and the competitiveness of the Singapore energy market through the use of blockchain, data analytics, artificial intelligence and machine learning.

In this context, the EMA stated that "emerging trends such as distributed generation of energy and smart grids are transforming the energy sector. The Government is therefore supporting these projects which have the potential to enhance the efficiency and reliability of our electricity and gas systems, building upon emerging trends."

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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