Energy Transition Measures and Other Amendments Bill
Explore the details of bill number 27/2024.
Summary
- The bill amends the Energy Market Authority of Singapore Act, Electricity Act, and Gas Act, primarily to establish a Future Energy Fund aimed at supporting low-carbon energy projects and energy supply security initiatives.
- It empowers the Energy Market Authority to manage the Future Energy Fund and specifies its funding sources, including contributions from the Consolidated Fund and donations.
- New provisions allow for electricity rationing during shortages, enabling authorities to regulate the generation, transmission, and supply of electricity to alleviate shortages.
- The bill includes further regulations on the relationship between gas importers and prescribed generation entities, ensuring gas supply compliance for electricity generation.
- It introduces stricter controls on ownership interests in designated energy entities and regulates how energy initiatives can be funded and implemented, while incorporating transitional provisions for existing contracts and agreements.
Summary written by AI (edit)
Timeline
The bill is formally presented in Parliament for consideration.
a month ago
The bill's title and key objectives are read out, but no debate occurs at this stage.
a month ago
Members of Parliament debate the bill's general principles and overall merits.
Next parliament seating
The bill is examined in detail by a select committee, which may suggest amendments.
Next parliament seating
Members of Parliament debate the final version of the bill, including any amendments made.
To be decided
The bill is voted on by the Members of Parliament and, if it receives the required majority, it becomes law. Do note that an exact vote may not be counted; the 'ayes' can simply be louder than the 'noes'.
To be decided
The bill is passed and becomes law.
To be decided