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Glossary of terms used in the National Electricity Market of Singapore (NEMS).
The additional services necessary to ensure the security and reliability of the power system. The ancillary services traded competitively on the wholesale market are regulation and the three classes of reserve (primary secondary contingency). The black-start ancillary service is contracted by Energy Market Company (EMC) on an annual basis.
Black-start Ancillary Service
A service to ensure that there is initial generation for system restoration following a complete blackout.
Combined-cycle gas turbine.
Consumers that have the right to choose to purchase electricity from a retail supplier directly from the wholesale market or indirectly from the wholesale market through the Market Support Services Licensee (MSSL) SP Services. Consumers qualify to be contestable based on their level of electricity consumption.
A reserve class that can be called upon within a 10-minute response time and sustained for at least 30 minutes.
The process used by the market clearing engine to ensure that the most inexpensive mix of energy reserve and regulation is purchased from the market to meet electricity demand in each dispatch period.
A mathematical degenerate state where a set of two or more solutions arise from the same objective function.
The demand forecast reports the forecasted electricty consumption in Singapore in each half hour. This demand forecast excludes transmission losses intertie flows and generation from exempted embedded generators.
A schedule produced by the market clearing engine every half-hour that is the basis for the supply of energy reserve and regulation in the market.
Daily routine check. This is the price sanity check performed by Energy Market Company's (EMC) Market Operations team on a daily basis.
Disaster recovery plan.
Embedded Generators (EG)
Generation units that generate electricity to their onsite load principally for self consumption.
EMC and PSO Fees
These fees are the approved administrative costs for Energy Market Company (EMC) and the Power System Operator (PSO) to operate the NEMS in each fiscal year. These fees are recovered from both generators and retailers based on per MWh generated or consumed.
A visualisation tool used by Energy Market Company's (EMC) Market Operations team to view the connectivities of the physical network. This is based on the NWStat files as well as the outage files provided by the Power System Operator (PSO).
A tool developed by Energy Market Company's (EMC) Market Operations team to view the results of the market clearing engine.
The flow of electricity.
Full Retail Competition (FRC)
A situation in the retail market in which all consumers are contestable consumers i.e. have the right to choose to purchase electricity from a retail supplier directly from the wholesale market or indirectly from the wholesale market through the Market Support Services Licensee (MSSL) SP Services.
Generation Registered Facility (GRF)
Generators that have been registered to provide one or more of the following: energy reserve and/or regulation. These generators are 10MW or bigger in size required to offer into the market and be centrally dispatched by the Power System Operator (PSO).
Generation Settlement Facility (GSF)
Generators that are less than 10MW in size and deliver only energy. These generators need not offer into the market and are not subject to dispatch by the Power System Operator (PSO). Embedded generators are usually classified as GSFs but not all GSFs are embedded generators.
A measure of electrical power equal to one thousand megawatts. Gigawatt hour (GWh) represents the number of gigawatts produced or consumed in an hour.
Open-cycle gas turbine.
Hourly energy uplift charge.
180-centistoke high sulphur fuel oil (180-CST HSFO). The relevant oil benchmark for Singapore's electricity industry.
Interruptible Load (IL)
A contestable consumer of electricity that participates in the wholesale market and allows its supply of electricity to be interrupted in the event of a system disturbance in exchange for reserve payment. The activation of interruptible loads is by the Power System Operator (PSO).
The consumption of electricity.
Market Clearing Engine (MCE)
The linear computer programme used to calculate the spot market quantities and prices.
Market Energy Price (MEP)
This refers to the nodal energy price. (see 'nodal pricing')
Market Participant (MP)
A person who has an electricity licence issued by the Energy Market Authority (EMA) and has been registered with Energy Market Company (EMC) as a market participant.
A measure of electrical power equal to one million watts. Megawatt hour (MWh) represents the number of megawatts produced or consumed in an hour.
The electricity consumption which is proxied by the withdrawal energy quantity (WEQ).
Monthly energy uplift charge.
Market network node or nodal energy prices are the prices received by generators. Nodal prices are determined according to the demand and supply characteristics of each of the injection nodes (market network nodes - MNNs) taking into consideration transmission losses and congestion on Singapore's electricity network. In the settlements reports this is termed as the Market Energy Price (MEP).
National Electricity Market of Singapore.
Net Treatment of Non-reserve Charges for Embedded Generators
With effect from June 2011 non-reserve charges (Energy Market Company fees Power System Operator fees and monthly energy uplift charges) for embedded generation facilities will be administered based on their amount of net withdrawal (consumption) from or net injection (generation) into the grid. To qualify for this treatment an embedded generation facility requires approval from the EMA and registration with EMC as an embedded generation facility.
A market structure in which prices are calculated at specific locations or nodes in the power system to reflect the demand and supply characteristics of each location taking into consideration transmission losses and congestion. Nodal pricing is also commonly referred to as locational marginal pricing. In the settlements reports this is termed as the Market Energy Price (MEP).
Consumers that are supplied by the Market Support Services Licensee (MSSL) SP Services at a regulated tariff. These consumers have not been given the right to choose to purchase electricity from either a retail supplier directly from the wholesale market or indirectly from the wholesale market through the MSSL.
Each half hour that the market clearing engine (MCE) runs. The MCE runs every half an hour throughout the day resulting in 48 trading periods each day.
Probability of failure which is a measure of the reliability of a generation registered facility.
The system comprising generation facilities and load facilities that are connected to the transmission system.
A large price deviation between two adjacent dispatch network nodes normally caused by transmission congestion.
A reserve class that can be called upon within a 8-second response time and sustained for at least 30 seconds.
A service provided by the generators to fine-tune the match between demand and supply. A frequency following service.
The market price determined for regulation and the cost of regulation is largely borne by the load.
Stand-by generation capacity or interruptible load that can be drawn upon when there is an unforeseen disruption of supply.
The market price deteremined for each of the three classes of reserve products traded (primary sercondary and contingency). The cost of reseve products is borne by the generators.
The transactions made between retail companies and end consumers.
A reserve class that can be called upon within a 30-second response time and sustained for at least 10 minutes.
Short Term Load Forecast (STLF)
Forecast of the following 14 days' average system load for each half-hourly period. It is sent to the market clearing engine once a day.
Singapore hub or SHUB means the MNN at which all energy taken from the transmission system by load facilities is deemed to be withdrawn and all energy injected onto the transmission system by generation facilities referred to in section 5.1.3 of Chapter 2 is deemed to be injected.
The supply cushion measures the percentage of total supply available after matching off demand.
A measure of electrical power equal to one million megawatts. Terwatt hour (TWh) represents the number of terawatts produced or consumed in an hour.
Any calendar day since 1 January 2003 when electricity prices are traded in the National Electricity Market of Singapore (NEMS). One trading day consists of 48 trading periods.
Any calendar month since 1 January 2003 when electricity prices are traded in the National Electricity Market of Singapore (NEMS). One trading month may contain up to 31 trading days.
Each year consists of four quarters. Q1 is from January to March Q2 is from April to June Q3 is from July to September and Q4 is from October to December.
A trading week starts on a Sunday and ends on a Saturday. Typically each trading week contains 7 days. However some trading weeks may contain less than 7 days e.g. in 2003 Week 1 and Week 53 had only 4 days each.
Uniform Singapore Energy Price (USEP)
The USEP is the weighted-average of the nodal prices at all off-take nodes.
Very Short Term Load Forecast (VSTLF)
Forecast of the following 7 hours' average system load for each half-hourly period. It is sent to the market clearing engine every period.
A vesting contract is a regulatory instrument imposed on some generators by the Energy Market Authority (EMA) with the objective of mitigating the potential exercise of market power when the supply side of the industry is concentrated among a small number of generators. A vesting contract requires these generators to produce a specified quantity of electricity (vesting contract level) at a specified price (vesting contract hedge price).
Vesting Contract Hedge Price (VCHP)
The VCHP is calculated by the Market Support Services Licensee (MSSL) SP Services every three months. It is determined using the long run marginal cost of the most efficient generation technology in the Singapore power system i.e. the combined-cycle gas turbine (CCGT). Energy Market Company's (EMC) settlement system uses the VCHP to settle the vesting quantity between the MSSL and the generation companies.
Vesting Contract Hedge Quantity (VCHQ)
The VCHQ is the vesting contract hedge quantity allocated to some generators.
Wholesale electricity price which is the net purchase price paid by retailers inclusive of all administrative costs and uplift charges incurred in the wholesale market. This price consists of the following cost components: USEP AFP HEUC MEUC Energy Market Company (EMC) fees and Power System Operator (PSO) fees.
Withdrawal energy quantity (in MWh) refers to the amount of electricity withdrawn by load facilities. It is provided by the Market Support Services Licensee (MSSL) SP Services.
The transactions made between generatin companies and retail companies.