Singapore presents one of the most unique electricity market architectures in the world. As a compact city-state with virtually no domestic fossil fuel extraction or hydro resources, Singapore has engineered one of the most reliable and gas-dependent grids globally.
In our telemetry records for July 2026, natural gas accounted for 95.9% of total generation, with Combined Cycle Gas Turbines (CCGT) setting the marginal price across nearly every half-hour trading interval in the National Electricity Market of Singapore (NEMS).
95.9%Baseload Dominance
Natural Gas Share of Generation
CCGT plants fueled primarily via piped natural gas (PNG) and liquefied natural gas (LNG) imports.
The Midday Solar Expansion
Despite land constraints, rooftop solar and floating solar arrays (such as the Tengeh Reservoir installation) are beginning to make visible dents in daytime dispatch.
🇸🇬Singapore Generation Mix & USEP Spot Price
2026-07-01 → 2026-07-07
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Key Market Observations:
- Tight Spot Price Bounds: Unlike the extreme swings seen in island grids like the Philippines, Singapore's Uniform Singapore Energy Price (USEP) stays tightly clustered between S$88/MWh and S$350/MWh for over 90% of intervals.
- Peaker Scarcity Spikes: During peak afternoon commercial cooling hours, if a gas turbine drops offline for maintenance, USEP can spike rapidly toward its regulatory ceiling (reaching S$1,473.54/MWh in our observation window).
- Regional Interconnection as the Future: With limited domestic solar acreage, Singapore's long-term decarbonization pathway hinges on regional electricity imports (such as the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project).