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Review of Price Revision in the National Electricity Market of Singapore
Tan Liang Ching, Senior Economist (2008) and Teo Wee Guan, Senior Economist (2007)
Publication Date: March 2008
Since the NEMS began operating on 1 January 2003, the market has adopted an ex-ante pricing regime whereby the spot prices for energy, regulation and reserve are determined by the market clearing engine (MCE) just prior to the start of each half-hour dispatch period. This paper assesses the arguments for and against price revision, and draws comparison to two other ex-ante pricing markets, the Australia National Electricity Market (NEM) and the Argentina Wholesale Electricity Market (WEM). It then presents EMC’s recommendations, which strive to balance the interests among all NEMS stakeholders.
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