Energy Market Company Celebrates the National Electricity Market of Singapore's 20^th Anniversary by Committing to Plant 200 Trees

$60,000 was donated to the Garden City Fund to support its Plant-A-Tree programme as part of the company's sustainability commitments

Singapore, 12 January 2023 – Energy Market Company (EMC) has partnered with the National Parks Board’s (NParks) registered charity and IPC, Garden City Fund, to organise our first ever tree-planting initiative this morning. More than 65 staff planted 100 trees along Yishun Avenue 9 to kick-off the celebrations to commemorate the 20th anniversary of the National Electricity Market of Singapore (NEMS). Another 100 trees will be planted later this year. Each tree planted will contribute to NParks’ OneMillionTree movement, moving us closer to realising our City in Nature vision, a key pillar of the Singapore Green Plan 2030.

The NEMS 20th Anniversary Celebrations

The NEMS opened for trading on 1 January 2003, placing Singapore at the forefront of a global movement to liberalise the electricity industry. The Energy Market Authority (EMA), EMC and industry partners worked together to transition from a day-ahead market to half-hourly market to encourage more competition in the wholesale and retail markets. 

Over the last 20 years, the NEMS witnessed several key milestones, such as the introduction of the first wholesale market trader and embedded generators in 2006 and 2008 respectively, to the launch of the demand response programme in 2016, open electricity market in 2018 and more recently, the first electricity imports from Laos in 2022. 

The development of the NEMS has been tremendous and is a testament of how the market has grown efficient, transparent and successful.  

EMC will also be launching several key initiatives to commemorate the anniversary and celebrate with our partners in the energy industry:

• Digital time capsule
  The time capsule will be a collection of memorbilia that shaped the NEMS to what it is today.
• Commemorative Book
  EMC will be launching a commemorative book to celebrate the anniversary through the eyes of the people that witnessed the development of the NEMS.
• Volunteering Initiatives
  EMC will be partnering market participants to engage and enrich the beneficiaries of the NEMS adopted charity, Child at Street 11.
• Singapore Electricity Roundtable 
  The much-anticipated Singapore Electricity Roundtable will return in July, and we look forward to the insightful sharing and discussions. 

A Resilient Energy Market with Sustainability in Mind

As Singapore moves towards a more resilient and sustainable energy future, EMC is determined to support the nation’s green ambitions with a new tagline and a 20th Anniversary logo. 

• "Forging a Resilient Energy Market"
  The new tagline highlights EMC's role in shaping the market and ensuring that the market is resilient and secure.
• New anniversary logo
  The NEMS 20^th Anniversary logo is an expansion of the existing NEMS logo. By adopting the existing EMC colour palette, the logo is a subtle nod to EMC's role in the success of the NEMS.

Toh Seong Wah, Chief Executive Officer of EMC shares his thoughts: “We were the first in Asia to take the leap to restructure the market and encourage more competition in Singapore’s wholesale and retail markets. The success of the NEMS over the last 20 years is due to the cumulative efforts by EMC, the EMA and our partners in the industry. As we celebrate our 20th NEMS’ anniversary this year, we look forward to working with the industry to forge a stronger and more resilient energy market in the years ahead.”