Power generation and consumptionThe electricity generation capacity of Singapore amounted to about 12.03 thousand megawatts in the first quarter of 2021. To further improve its electricity generation, the government has decided to progressively liberalize the energy market for residential and commercial use since 2018. The variety of providers was intended to help households and companies to take a closer look at their consumption and to be able to manage it better. As of 2022, these providers are distributed among nine residential and 15 business retailers.
Singapore's total energy demand includes an energy mix of coal and peat, petroleum products, natural gas, and electricity generation. In total, in 2021, about 3.46 exajoules of primary energy were consumed, with over 60 percent coming from petroleum products. In terms of electricity consumption, peak demand dropped slightly and reached its lowest level in May 2020 due to COVID-19 related restrictions, which resulted in reduced activity in many industries.