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Guide To Prices

This section provides more explanations on the terminology used in the Pricing Information section. For any enquiry on the Guide to Prices, please email to Market Operations team.

Administered Pricing During Market Suspension

In the event that the real-time and procurement markets are suspended, the Market Rules: Chapter 6, Section 1.2.5 states that all market participants shall be settled for physical services injected onto and withdrawn from the transmission system. The prices used for this settlement may be calculated using a methodology determined by the EMA in consultation with EMC and the Power System Operator (PSO). Chapter 6, Section 1.2.5A specifies EMC to publish the methodology provided by the EMA. The methodology was provided by the EMA for publication on 1 October 2003.

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 5 MWh.

Commissioning Generation Facility (CGF)

A commissioning generation facility means a generation facility located within Singapore that is either (a) newly constructed; or (b) significantly redesigned or rebuilt and is designated by the EMC as a commissioning generation facility and, in either case that has not yet completed the commissioning tests referred to in section 5.3.4.2 of Chapter 2 of the market rules.

Contracted Ancillary Services

On behalf of and at the request of the Power System Operator (PSO), EMC procures, primarily through contracts, certain physical services that are needed to maintain reliable system operations but are not offered on real-time markets.

The principal contracted ancillary services that EMC may procure are:

  • reactive support and voltage control service,
  • black-start capability,
  • fast-start services, and
  • reliability must-run services.

With EMC granted derogation from Section 8.3.1.1 of Chapter 5 of the Market Rules, EMC can procure ancillary services contract for a period not exceeding 1 year. Henceforth, in consultation with the PSO, EMC procured black-start capability services for period 1 Apr 2017 to 31 Mar 2018, details of which are tabled below:

Contracted Ancillary Services from 01 April 2017 to 31 March 2018
 Total Contracted
Cost incl. GST

Total Contracted
Quantity (MW)

Estimated Additional
Quantity to be Acquired (MW)

Contracted Ancillary Services$11,514,038.88 88.848 

Ancillary Services Contract Agreement

The cost of ancillary services is recovered by EMC through the Monthly Energy Uplift Charge (MEUC) as outlined in the Market Rules: Chapter 7, Section 4.1.

The 9 key requirements of the ancillary service to be procured for period 1 Apr 2017 to 31 Mar 2018

Demand forecast

The demand forecast reports the forecasted electricity consumption of Singapore in each half hour. The demand forecast excludes transmission losses, intertie flows and generation from exempted embedded generators.

Embedded Generator

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 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.

Facility Generation Type

The facility generation type refers to the various generation technologies the facility belongs to. The current facility generation types are steam turbine (ST), gas turbine (GT) and the combined cycle gas turbine (CCGT).

Facility Registration Status

All generation facilities with 1MW or more are required to be registered in the wholesale electricity market. A generation facility may be registered as a generation registered facility (GRF) or a generation settlement facility (GSF).

Frequency Responsive Status

Generation registered facilities which are capable of providing ancillary services may be subject to AGC control for reserves and regulation. Such facilities are marked as frequency responsive (FR) units. Other facilities are non-frequency responsive (NFR).

Generation Registered Facility (GRF)

This is for a generator that has been registered as a registered facility to provide one or more of energy, reserve and regulation or contracted ancillary services. These generators are 10 MW and more in size, required to offer.

Generation Settlement Facility (GSF)

This is for a generator that is less than 10MW in size and for the delivery of energy only. These generators need not offer into the market and are not subject to dispatch by the Power System Operator. Embedded generators are usually classified as GSFs, but not all GSFs are embedded generators.

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.

Intermittent Generation Facility (IGF)

Sources of energy whose output depends on environmental factors and weather conditions, such as solar and wind energy. While there are IGF facilities connected to the grid in Singapore, IGS are not scheduled for dispatch by the PSO in the wholesale market because the power output cannot be controlled or varied at will.

 

Load Registered Facility (LRF)

A load that submits bids and offers in the energy and reserve markets for the purpose of providing load curtailments and loads to be interrupted.

Monthly Energy Uplift Charge (MEUC)

At the end of each calendar month, EMC calculates the Monthly Energy Uplift Charge (MEUC) for the following calendar month and recovers from the load on the basis of withdrawal quantity in MWh. 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, and
  • the estimated monthly energy uplift shortfall to be recovered and/or deducted in the following calendar month.

Numerical information on the MEUC determined in accordance with the Market Rules Chapter 7, section 4.1.

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, or MNNs, on Singapore's electricity network, approximately 60 in all).

Regulation Price

The regulation price is the market price determined for regulation and the cost of regulation is largely borne by the load.

Reserve Provider Group

A reserve provider group is a group of reserve providers that share similar effectiveness characteristics. In the standing data of the NEMS, reserve provider groups range from A to E. These correspond to a payment incentive structure range of 1 to 0.25, illustrated in the table below.

 
Reserve Provider GroupParameter applied on reserve payments
A1
B0.85
C0.75
D0.60
E0.25

A reserve provider group is a group of reserve providers that have similar effectiveness characteristics. Based on the PSO's System Operation Manual (SOM), the reserve provider groups (or groups are defined as) are calculated as follows:

  1. A surge is referred to as an event in which the frequency dips between the estimated ranges of 0.2 Hz and 0.18 Hz.
  2. The PSO will measure all surges in a quarter. However, the PSO needs at least six surges to perform the computation(s).
  3. In the event that fewer than six surges are observed in a quarter, the PSO will use figures from the previous quarter to perform the computation.
Reserve Price

The reserve price is 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.

Uniform Singapore Energy Price (USEP)

The Uniform Singapore Energy Price (USEP) is the uniform price of energy that applies for settlement purposes for all energy injections or withdrawals that are deemed to occur at the Singapore hub. It is the weighted-average of the nodal prices at all off-take nodes in each half hour.

Vesting Contract Reference Price (VCRP) MSSL

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 Vesting Contract Reference Prices (VCRPs) for all vested generators' settlement accounts, weighted by their respective vesting contract quantities. Further details on the vesting contract regime can be found at the EMA website.

Wholesale Electricity Price (WEP)

The 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 Power System Operator (PSO) fees.