On Tuesday (29 Oct), the Land Transport Authority (LTA) announced the injection of 20,000 additional Certificates of Entitlement (COEs) across all vehicle categories from Feb 2025 and over the next few years.
This is the first injection of COE in 20 years, with the last one happening between 1997 and 2003 when the Electronic Road Pricing (ERP) was first introduced.
“The adjustment reflects recent trends in vehicle usage, the improved capabilities of ERP 2.0 coupled with significant investments in our public transport network,” the post reads.
This announcement will come as a delight to those who wish to purchase a vehicle, as an increased supply of COE could translate to lower premiums, which has been a sore point for many in recent years.
A COE is required to own and use a vehicle in Singapore under the Vehicle Quota System (VQS) and it was put in place to control the vehicle population in Singapore.
In recent years, the country has been able to better manage congestion through pillars outside of the VQS.
According to LTA’s statement, total vehicle mileage has decreased by 6% from 2019 to 2023 due to the rise of work-from-home arrangements during the pandemic.
Public transport accessibility has also increased, as the rail network expanded by 18% from 228km to 270km in the same period.
ERP 2.0, introduced in 2023, has also been a key policy in improving congestion in Singapore.
The upgraded system provides more comprehensive aggregated traffic information and will be able to operate with “virtual gantries”, which will allow for “more flexible and responsive congestion management”.
ERP 2.0 can also allow distance-based charging in the future, which can regulate vehicle usage and manage traffic congestion more responsively.
To facilitate the installation of OBU, a key component of ERP 2.0, the LTA has streamlined the process of booking for OBU installation for existing vehicle owners.
Under the new system, vehicle owners can now directly book their OBU installation appointments with their preferred authorised workshop.
Owners will no longer have to go through the original LTA booking or wait for LTA’s official notification for their installations.
Also read: LTA to waive S$10 admin fee for missed ERP payments if paid within 5 days
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Featured image adapted from KQ Boy on Unsplash.
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