According to recent reports, it has been revealed that Singapore is running short on electric supplies and this is the reason they are now looking for possible sources for the import of energy from other places.

It was revealed by Mr. S Iswaran, from the Prime Minister’s office, that the nation is in serious talks with other nations for the purpose of importing energy in order to add to its national assets. He revealed that the nation is currently taking a look at the regulatory framework to find out the number of types of trading model that can be used for the purpose of importing energy from other places.

The authorities were of the view that this new move shall help in keeping the prices of energy low and shall also be a step forward in increasing the energy security services in Singapore.

“We are currently reviewing our regulatory framework and studying various trading models that could facilitate electricity imports in the medium term. We are currently reviewing our regulatory framework and studying various trading models that could facilitate electricity imports in the medium term”, said Mr. Iswaran. He further added that this could be a positive step in the purpose of energy cooperation in the country.