Forecast: Electricity Generation in Singapore

Electricity generation in Singapore has shown a generally increasing trend from 2013 to 2023, with values growing from 47.98 TWh in 2013 to 58.06 TWh in 2023. Between 2014 and 2019, the year-on-year variations averaged around 2%, exemplifying steady growth, though 2020 saw a rare dip of -1.98%. Recovery was swift in 2021 with a 5.12% increase. The latest data reveals consistent growth with a 1.66% rise from 2022 to 2023. The 5-year CAGR stands at 1.88% till 2023.

Forecasts for 2024 to 2028 suggest continued expansion at a rate of approximately 1.39% per year, culminating in a projected increase of 7.13% by 2028.

Future trends to watch for:

• Increased emphasis on renewable energy sources.
• Technological advancements in energy efficiency.
• Policy interventions targeting emissions reductions.
• Potential impacts of economic fluctuations and global energy market dynamics.