History of the Singapore market
Singapore’s journey through liberalisation began in October 1995, when industry assets were corporatised and put on a commercial footing to facilitate competition and as a precursor to eventual privatisation.
In 1998, the Singapore Electricity Pool, a day-ahead market, began operation. On 1 April 2001, a new legal and regulatory framework was introduced that formed the basis for a new electricity market. During 2002, Energy Market Company (EMC) implemented the wholesale market systems, rules and business processes that would underpin the new market.