The story of Singapore’s energy market could be tracked back to its early independence years where the then Public Utilities Board (PUB) was formed in 1963 as the agency responsible for the supply of electricity, water and gas in Singapore. 30 years later, the electricity and piped gas undertakings under the agency were corporatised to introduce competition in the energy sector. EMA was subsequently set up in 2001 as part of the Singapore government's efforts to oversee the further liberalisation of the energy market. As a regulator, EMA was tasked to ensure that Singapore has a reliable and secure energy supply and to promote effective market competition.
Over the years, the electricity sector was progressively liberalised and restructured. Key developments included opening up our generation and retail electricity markets to commercial players, establishing a regulatory framework as well as introducing a wholesale electricity market with spot bidding every 30 minutes.
In April 2018, EMA commenced the soft launch of the Open Electricity Market, where households and businesses in Jurong can choose to buy electricity from a retailer at a price plan that best meets their needs. The initiative was extended across Singapore by zones from November 2018 with all consumers enjoying this choice and flexibility by May 2019.
Electricity Industry Structure
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