If Singapore has fuel reserves, why are electricity tariffs surging?

Synopsis: On Wednesdays, The Straits Times takes a hard look at Singapore's social issues of the day with newsmakers.

From April to June 2026, electricity and household tariffs will be higher. And we’ve been warned to brace for even higher utility bills after this quarter, as the ongoing war in the Middle East squeezes global fuel supplies.

But this always leads to a very common question from Singaporeans. To counter these exact types of supply shocks, does Singapore actually have enough national fuel reserves to last for months? So if we have our own stockpiles, why do we still have to pay more?

In this episode, assistant podcast editor Lynda Hong unpacks the impact of the war on inflation with Dr David Broadstock, partner at energy consultancy The Lantau Group. He explains the stockpile paradox when global conflicts hit the cost of living at home.

Apart from cost of living issues related to the rise in energy prices, the episode also discusses whether it’s more cost-effective to buy an Electric Vehicle (EV) and the challenges to transition to decarbonised energy like nuclear and renewables.

Highlights (click/tap above):

4:54 Survival vs. hedging: The two types of fuel reserves Singapore uses

14:10 Will Open Electricity Market (OEM) retailers collapse again?

20:35 When will energy inflation hit food and transport?

25:52 Why the war, even if short-lived, would have long-term impact on high prices

27:58 EV vs. petrol: Does switching to an electric vehicle actually save you money right now?

30:59 Is nuclear energy the ultimate solution to Singapore's price shocks?

Read ST’s Opinion section: https://str.sg/w7sH

Follow Lynda Hong on LinkedIn: https://str.sg/Gm2v

Host: Lynda Hong (lyndahong@sph.com.sg)

Produced and edited by: Hadyu Rahim

Executive producers: Ernest Luis & Lynda Hong

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