Households to get financial incentive for reducing electricity use during peak periods from next year

Households contribute to about 15 per cent of Singapore’s total electricity demand. SINGAPORE: Singapore will test out alerting households on when to stop or postpone using their appliances during peak usage periods, in a first-of-its-kind effort to decrease energy consumption here.

Voluntary reduction of electricity use will bring benefits to the entire energy system as the maximum load it needs to cater to will decrease, said Ms Violet Chen from the Energy Market Authority at the Singapore International Energy Week on Tuesday . Households can do so, for example, by switching off their air-conditioning. They can also keep track of their weekly carbon emission through the app and adjust their electricity consumption habits.

Singapore's electricity demand during peak periods is projected to grow at a compound annual growth rate of up to 6.5 per cent annually from 2023 to 2028.Dr David Broadstock from the National University of Singapore’s Sustainable and Green Finance Institute noted that the government and regulators have over the years made efforts to nudge households to change their energy consumption.

It will be difficult to say what level of incentive would be sufficient to encourage households to truly change their behaviour, he added. “I then need to think about the costs of needing to wait another day or possibly even a week to restart that work and get back to the same point,” he said.

Source: Energy Industry News (energyindustrynews.net)

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