Singapore: Budget 2017 highlights

Energy and Utilities – New Carbon Tax

• A Carbon Tax of between SGD10 and SGD20 per tonne of GHG emissions will be introduced from 2019.
• The new Carbon Tax will be levied on large direct emitters of GHGs, e.g. power stations, and is expected to impact 30 to 40 facilities locally.
• This could result in a 2.1 to 4.3% rise in electricity prices for consumers equivalent to a rise of 43 to 86 cents per kilowatt-hour and will likely accelerate the growth of renewable electricity products in Singapore.
• Bird & Bird views this as a positive development likely to spur the development of Smart Cities, Renewable Energy and CleanTech and Smart Grids.
• We invite you to click the links above for more information on our specialised practices in these areas.