Singapore Ministry of Trade and Industry Submits Bill Amendment Including Establishment of Fund for Investment in Low-Carbon Energy Infrastructure

On August 6, 2024, the Singapore Ministry of Trade and Industry (MTI) submitted the “Energy Transition Measures and Other Amendments Bill” to parliament. This bill is to amend the “Energy Market Authority of Singapore Act,” “Electricity Act,” and “Gas Act,” and includes provisions for the establishment of the “Future Energy Fund (FEF)” aimed at supporting investment in the transition to low-carbon energy sources, in addition to legal amendments to recover costs related to supporting the decarbonization of the power sector from stakeholders.