Singapore and US Energy Regulatory Agencies to Boost Bilateral Cooperation
22 Apr 2019
Singapore's Energy Market Authority (EMA) and the United States' Federal Energy Regulatory Commission (FERC) have agreed to enhance cooperation towards greater energy security and resilience.
2. The Memorandum of Understanding (MOU), signed today, provides a framework to promote cooperation and sharing of regulatory practices in three key areas:
i. Planning, reliability and cybersecurity of the electricity system;
ii. Regulation of wholesale energy markets, including the role of Energy Storage Systems and Distributed Energy Resources in competitive energy markets; and
iii. Cooperation at multilateral forums such as the Asia Pacific Energy Regulatory (APER) Forum. This is an ongoing forum which facilitates the sharing of information on regulatory and policy practice and experience in Asia Pacific.
3. Activities between the two agencies will include knowledge-sharing and technical cooperation involving training and exchange programmes. There will also be joint research and organisation of multilateral workshops and seminars, as well as high-level consultations and dialogues between EMA and FERC.
4. Mr Ngiam Shih Chun, Chief Executive of EMA, welcomed the MOU as a key milestone in Singapore’s bilateral energy cooperation with the US. He said: "We look forward to building on our excellent cooperation with FERC over the years. Both our agencies will benefit from sharing expertise and best practices on a range of energy issues, which will allow us to enhance our energy security and resilience."
5. Mr Neil Chatterjee, Chairman of FERC, said: "Sharing best practices between energy regulators is an important aspect of promoting efficient and transparent regulation around the world. I am proud to have signed today's MOU between FERC and the Singapore Energy Market Authority to facilitate the exchange of information and experiences on reliability, cybersecurity, and wholesale energy markets between our two countries."
6. Following the MOU signing, EMA and FERC discussed developments and trends in the electricity and gas markets, as well as potential energy collaboration for 2019 and 2020.
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