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Singapore Pre-feasibility Study on Nuclear Energy
The Situation
In 2010, the Singapore government embarked on a pre-feasibility study on nuclear energy in response to a recommendation by the Economic Strategies Committee. The study was part of Singapore's efforts to continually explore all options that could help it overcome its energy constraints and enhance its energy security.
NERA's Role
NERA Economic Consulting was one of the consultancies appointed to assist with this study, following a highly competitive tender process. The pre-feasibility study was led by the Ministry of Trade and Industry (MTI), which took a "Whole-of-Government" approach throughout the process of the study. The NERA team worked closely with MTI and a wide range of relevant Singapore ministries and agencies.
NERA's role focused on examining the viability of nuclear energy as a potential long-term fuel source, in the context of Singapore's electricity market structure, projected electricity demand, and lack of indigenous generation fuel resources.
The Result
In October 2012, the Minister in Prime Minister's Office and Second Minister for Home Affairs and Trade and Industry, S. Iswaran, made public the conclusion of the overall pre-feasibility study. The study has concluded that nuclear energy technologies presently available are not yet suitable for deployment in Singapore, and that the risks to Singapore still outweigh the benefits at this point.