The Wholesale Electricity Price (WEP) is the net purchase price paid by retailers, inclusive of all administrative costs incurred in the wholesale market. This price consists of the following cost components: USEP, AFP, HEUC, MEUC, EMC fees and PSO fees.

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 the off-take nodes on Singapore’s electricity network.

Allocated Regulation Price (AFP)

The cost of purchasing regulation products from the market is co-shared by retailers and generators. The AFP is determined for retailers based on their consumption (metered withdrawal quantities) and for generators based on their injected energy quantity up to 5MWh.

Hourly Energy Uplift Charge (HEUC)

This charge captures any differences between total amounts received from retailers and total amounts paid to generators for energy, reserve and regulation products.  While the HEUC is called a charge, it is typically a return to retailers of the revenue arising from the sale of energy to cover transmission losses.

Monthly Energy Uplift Charge (MEUC)

This charge levied on retailers covers the following potential payments and refunds each month:

• The cost of procuring contracted ancillary services (e.g., black-start services) and related costs
• Compensation claims and refunds
• Financial penalties and refunds
• The estimated monthly energy uplift shortfall to be recovered and/or deducted in the following calendar month

EMC fees and Power System Operator (PSO) fees

These fees are the approved administrative costs for EMC and the 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. More information on EMC and PSO fees.

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	Final Prices Uniform Singapore energy price and demand forecast Nodal energy price Reserve price Regulation price Wholesale electricity price Vesting contract reference price