SMEs can do bit for energy conservation, too

September 1, 2011 by  
Filed under Insights

This article is contributed by Chua Wen Hao, Energy Analyst with the Energy and the Environment Division, Energy Studies Institute.

Energy efficiency has been earmarked as an integral part of Singapore’s energy policy. Efficiency gains are acknowledged to be one of the quickest and most cost-effective tools to achieve various policy goals, such as improving energy security, enhancing economic competitiveness or promoting environmental sustainability. To this end, the Singapore government has announced the implementation of the Energy Conservation Act, which will introduce minimum energy management standards for large industrial energy users from 2013.

The industrial sector accounts for almost 60 percent of Singapore’s total energy consumption. As the Act applies to just companies which consume more than 15 gigawatt-hours per year, only those operating on a large scale–generally MNCs (multinational corporations)–will be affected. However, SMEs should and can be doing their bit to save energy and consume energy more efficiently. The European Union, notably France and the UK, has such policies for its SMEs, and in the US, Industrial Assessment Centres have been established with the aim of improving SME energy management. Read more

IEA Chief Economist offers a look at our energy future

June 21, 2011 by  
Filed under Insights

The era of cheap oil is over, and policies fall short of what is needed for a secure and sustainable energy future, says Dr Fatih Birol, Chief Economist of the International Energy Agency, in his lecture titled “A Glimpse into the Energy Fututre” at today’s EMA Distinguished Speaker Programme. This lecture is jointly organised by the Energy Market Authority and the Energy Studies Institute.

Era of cheap oil is over

Dr Birol shares that the era of cheap oil is over because of structural changes, and there is growing risk that the upturn in oil prices could undermine economic recovery.

On the demand side, strong growth from the transportation sector due to booming demand for mobility in emerging economies drives up oil use. The global car fleet continue to surge as more people in China and other emerging economies buy a car. Read more