Government may extend Temporary Electricity Contracting Support Scheme

Singapore

THE government may extend the Temporary Electricity Contracting Support Scheme (TRECS) beyond May, amid concerns about the impact of the Russia-Ukraine war on the energy market, said Second Minister for Trade and Industry Tan See Leng on Friday (Mar 4).

Introduced last December, TRECS provides large electricity consumers with a viable option to reduce their exposure to the volatile wholesale electricity prices through fixed price contracts with electricity retailers. The scheme was extended once from March to May and may be extended further if necessary, said Dr Tan during the Ministry of Trade and Industry's Committee of Supply debate in Parliament.