Guide to Prices
Three types of electricity products are traded on the NEMS in real-time: energy, reserve and regulation. EMC determines the following prices in relation to these products:
Uniform Singapore Energy Price (USEP)
The USEP is the energy purchase price paid by retailers. It is the weighted average of energy prices at all of the off-take nodes on Singapore’s electricity network.
Nodal Energy Price
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) on Singapore’s electricity network, approximately 35 in all.
Regulation Price
The regulation price is the market price for the regulation product. Regulation is generation that is on stand-by to fine-tune the match between generation and load. The cost of regulation products is co-shared by generators and retailers.
Reserve Price
The reserve price is the market price for the three classes of reserve products. Reserves are the stand-by generation capacity or interruptible load that can be drawn on when there is an unforeseen disruption to supply. The cost of reserve products is borne by generators.
Wholesale Electricity Price (WEP)
The Wholesale Electricity Price (WEP) is the net purchase price paid by retailers. It includes USEP, regulation charges, administrative charges and other components. An explanation of the components of WEP.
Vesting Contract Reference Price or VCRPMSSL
The VCRPMSSL is the price used to allocate any Vesting Contract Settlement Credit or Debits from MSSL to the end consumers. The VCRPMSSL is the average of the VCRPs for all vested generators’ settlement accounts, weighted by their respective vesting contract quantities. Further details on the vesting contract regime can be found here.
