Parliament to assess energy costs, supply risks from Middle East conflict

Three ministers will deliver statements on the situation’s impact.

Parliament is set to discuss the domestic impact of the Middle East conflict on Tuesday, 7 April, focusing on energy prices, supply risks and support measures, according to an order paper.

Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong, Home Affairs Minister K. Shanmugam and Acting Transport Minister Jeffrey Siow are set to deliver a ministerial statement on the situation’s impact.

MPs have filed questions to Gan on fuel and electricity price movements, cost pass-through, and existing safeguards.

They also asked whether recent increases in petrol and diesel prices reflect underlying wholesale costs, and whether measures are needed to ensure timely and proportionate price adjustments.

Electricity prices are also under scrutiny, with questions on the outlook over the next six to 12 months and measures to cushion households from increases.

On supply, questions focus on Singapore’s exposure to disruptions in oil and liquefied natural gas flows, stockpile sufficiency, and contingency plans for prolonged shortages or sustained high prices.

MPs queried potential spillover effects on food prices, logistics, aviation, and the industrial supply chain.

Pricing behaviour is another key focus, with questions on monitoring by regulators and safeguards against unjustified increases.

Longer-term issues raised include energy diversification, stockpiling strategies, and alternative sources, such as nuclear.

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