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Singapore’s journey through liberalisation began in October 1995, when industry assets were corporatised and put on a commercial footing to facilitate competition and as a precursor to eventual privatisation.
In 1998, the Singapore Electricity Pool, a day-ahead market, began operation. On 1 April 2001, a new legal and regulatory framework was introduced that formed the basis for a new electricity market. During 2002, Energy Market Company (EMC) implemented the wholesale market systems, rules and business processes that would underpin the new market.
On 1 January 2003 the National Electricity Market of Singapore (NEMS) opened for trading, placing Singapore at the forefront of a global movement to liberalise the electricity industry. The local industry has been restructured to facilitate competitive wholesale and retail markets by separating ownership of the contestable parts of the industry from those with natural monopoly characteristics.
All of Singapore’s electricity is bought and sold through EMC in the NEMS. EMC is the exchange for wholesale electricity trading, providing a transparent and competitive trading platform and the governance for the market.
Generation companies offer every half-hour to sell electricity into the wholesale electricity market. All sales and purchases of electricity through the wholesale market are settled through EMC. Generators and retailers or major users can enter into financial bilateral agreements outside the wholesale market.
In addition to the wholesale electricity market, the Singapore Government is also progressively liberalising the retail market. This means contestable consumers will have greater choice about how they purchase their electricity. Contestable consumers are given three choices. One of these options is to purchase electricity directly from the wholesale market. EMC serves this category of market player, called a Direct Market Consumer.
Non-contestable consumers continue to buy electricity from SP Services Ltd at regulated tariffs. Eventually, all consumers in Singapore will become contestable.
For enquiries about the wholesale electricity market, please contact EMC .
For enquiries about the retail electricity market, please contact Energy Market Authority.
For the annual Market Reports that provide an overview of the NEMS, please click here.
For more enquires about the wholesale electricity market, please contact EMC via the following email address:
For more information about the retail electricity market, please contact the Energy Market Authority. An overview of the NEMS can also be obtained by reference the data from the annual Market Reports, found on our Website.