Energy Market Company (EMC) is a wholly-owned subsidiary of Singapore Exchange (SGX Group)

EMC was established in 2001 as a joint venture between the Energy Market Authority (EMA) and M-Co (The Marketplace Company) Pte Ltd (M-Co), with the EMA owning 51 percent and M-Co holding 49 percent.

Singapore Exchange (SGX Group), through its wholly-owned subsidiary Asian Gateway Investments Pte Ltd (AGI), acquired M-Co's 49 percent stake of EMC on 6 August 2012. It further acquired through AGI the EMA's 51 percent share on 1 October 2014, making EMC a wholly-owned subsidiary of AGI.

EMC is the exchange for wholesale electricity trading, providing a transparent and competitive trading platform. Our key activities include calculating prices, scheduling generation, clearing and settling market transactions as well as supporting governance of the market.

Managed and operated by a staff of about 70 professionals, we transacted over S$11 billion of electricity products in 2022.

EMC’s key business priorities are:
  • Availability of market systems
  • Accuracy of pricing and security of settlement
  • Provision of market information
  • Compliance to market rules
  • Evolution of the market framework
We are governed by the Market Rules, Market License, Electricity Act and Codes of Practice and are highly committed to working with all NEMS participants and service providers to ensure a transparent, professional and cost-effective market.

We receive a regulated return, with costs recovered on a fee for service basis. Our annual budget is available to the public.