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Our Energy Story

Overview

Discover how the Singapore Energy Story sets the vision towards a net-zero energy future.

Energy Supply

Gain insights into the four switches that power Singapore’s economy and our daily lives.

Energy Demand

Discover ways to enhance energy efficiency and lower your carbon footprint.

Energy Grid

Explore how EMA ensures a reliable and secure energy supply for everyone.

Energy Market Landscape

Learn about the intricacies of Singapore’s energy market structure and operations.

Regulations & Licences

Regulations

Stay up-to-date with the latest regulations, policies and frameworks governing the energy sector.

Licences

Learn about the licences that EMA issues to different stakeholders in the energy sector.

Regulatory Publications

Read about the Codes of Practice and Circulars that EMA publishes to regulate the energy sector.

Partnerships

Calls for Proposal

Collaborate with EMA in co-creating innovative solutions for the energy sector.

Consultations

Give your comments and feedback on EMA’s policies and regulations.

R&D Engagements

Discover how EMA works with stakeholders to catalyse new and innovative digital technologies.

Talent Development

Learn about EMA’s efforts in nurturing talent and cultivate interest in the energy sector.

Interim Approach on Market Competition Prior to Review of 25% Market Share Cap

Industry Sector:

Decision

With no objections raised to the Interim Approach, EMA will incorporate the feedback received and proceed to evaluate any merger or acquisition proposals put forth. Notwithstanding the conditions that would be imposed as part of EMA’s approval of a merger or acquisition, EMA will continue to monitor the market closely and use regulatory levers to formally conduct investigations should there be any signs of any anti-competitive behaviour.

Please refer to the attached decision paper for details (paper updated on 18 Sep, 5.30pm).

Update

The consultation has closed for comments.

Consultation

Following the 2016 Vesting Contract (“VC”) regime review, EMA imposed a capacity market share cap of 25% on all generation licensees (“25% Cap”). The 25% Cap would prevent structural increases in market concentration but would also allow each generation company (“genco”) to expand its portfolio of power plants as the market grows.

On 20 August 2024, EMA briefed the gencos on EMA’s intention to review the 25% Cap policy. The review is being conducted in light of the energy transition bringing about significant changes to the electricity market such as entry of large-scale imports, as well as the introduction of guardrails such as the Centralised Process to ensure sufficient generation capacity (“CP”), the Temporary Price Cap (“TPC”) to mitigate extreme energy price volatility in the Singapore Wholesale Electricity Market (“SWEM”), and the establishment of the Gasco as part of the centralised gas procurement framework. These changes are intended to stabilise the market and reduce the impact from any exercise of market power. EMA intends to complete the 25% Cap review by 2025.

Pending the completion of the 25% Cap review, EMA sought industry feedback on the principles and objectives EMA would use in the interim to assess the impact of any merger, acquisition or planting proposals on competition (“Interim Approach”).

Industry Sector:

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