The additional services needed to ensure the security and reliability of the power system. The ancillary services traded competitively on the wholesale market are regulation and the two classes of reserves (primary and contingency). The black-start ancillary service is contracted by Energy Market Company (EMC) on behalf of the Power System Operator (PSO) on an annual basis.
The price associated with the Base Vesting Quantity for each half-hour Trading Period.
The quantity (in MWh) for the purpose of hedging non-contestable consumer (NCC) load under the Base Vesting Scheme.
A service to ensure that there is initial generation of power, without using power from the grid, so as to restore systems following a complete blackout.
Combined-cycle gas turbine.
Consumers that have the right to choose to purchase electricity from a retail supplier, directly from the wholesale market or indirectly from the wholesale market through the Market Support Services Licensee (MSSL), SP Services.
A reserve class that can be called upon within a 10-minute response time and sustained for at least 30 minutes.
The process used by the market clearing engine (MCE) to ensure that the most inexpensive mix of energy, reserves, and regulation is purchased from the market to meet electricity demand in each dispatch period.
The CUSEP (in $/MWh) is calculated by the market clearing engine (MCE) with the assumption that there is no dispatchable energy bids.
The Megawatt (MW) that is curtailed.
A mathematical degenerate state where a set of two or more solutions arise from the same objective function.
The demand forecast reports the forecasted electricity consumption in Singapore in each half-hour. This demand forecast excludes transmission losses, intertie flows and generation from exempted embedded generators.
This enables contestable consumers to voluntarily reduce their electricity demand in response to market conditions, particularly during periods of high wholesale market prices or when system reliability is adversely affected.
A schedule produced by the market clearing engine (MCE) every half-hour. It is the basis for the supply and consumption of energy, and the supply of reserve and regulation in the market.
Daily routine check. This is the price sanity check performed by Energy Market Company's (EMC) Market Operations team on a daily basis.
Disaster recovery plan.
Generation units that generate electricity to their on-site load principally for self-consumption.
These fees are the approved administrative costs for Energy Market Company (EMC) and the Power System Operator (PSO) to operate the NEMS in each fiscal year. These fees are recovered from both generators and retailers based on per MWh generated or consumed.
A visualisation tool used by Energy Market Company's (EMC) Market Operations team to view the connectivities of the physical network. This is based on the NWStat files as well as the outage files provided by the Power System Operator (PSO).
A tool developed by Energy Market Company's (EMC) Market Operations team to view the results of the market clearing engine.
The flow of electricity.
The failure of a market participant (MP) to fulfil its payment obligations or other basic obligations under the market rules. An event of default, if not remedied, will trigger a suspension procedure on the defaulting MP. For a full list of events of default, please refer to the Market Rules.
A situation in the retail market in which all consumers are contestable consumers, i.e., have the right to choose to purchase electricity from a retail supplier, directly from the wholesale market or indirectly from the wholesale market through the Market Support Services Licensee (MSSL), SP Services.
Generators that have been registered to provide one or more of the following: energy, reserve, regulation or contracted ancillary services. These generators are 10MW or bigger in size, required to offer into the market and be centrally dispatched by the Power System Operator (PSO).
Generators that are less than 10MW in size and deliver only energy. These generators need not offer into the market and are not subject to dispatch by the Power System Operator (PSO).
A measure of electrical power equal to one thousand megawatts. Gigawatt hour (GWh) represents the number of gigawatts produced or consumed in an hour.
Open-cycle gas turbine.
Hourly energy uplift charge.
Hourly energy uplift rebate.
Hourly load curtailment uplift.
180-centistoke high sulphur fuel oil (180-CST HSFO). The relevant oil benchmark for Singapore's electricity industry.
IEQ (in MWh) refers to the amount of electricity injected by generation facilities. It is provided by the Market Support Services Licensee (MSSL), SP Services.
Sources of energy whose output depends on environmental factors and weather conditions, such as solar and wind energy. While there are IGS facilities connected to the grid in Singapore, IGS are not scheduled for dispatch by the Power System Operator (PSO) in the wholesale market because the power output cannot be controlled or varied at will.
The amount of electricity that a consumer makes available for interruption in the event of a system disturbance in exchange for reserve payment. The Power System Operator (PSO) controls the activation of interruptible loads.
Capacity of a facility licensed by the Energy Market Authority (EMA).
The consumption of electricity.
Price (in $/MWh) used to pay load registered facility (LRF) for its scheduled load curtailment quantity in each dispatch period.
Load curtailment quantity (in MWh) for a load registered facility (LRF) in each dispatch period.
The linear programme computer application used to calculate spot market quantities and prices.
This refers to the nodal energy price. (see 'nodal pricing').
A person or entity which has an electricity licence issued by the Energy Market Authority (EMA) and has been registered with Energy Market Company (EMC) as a market participant to trade in the wholesale electricity market.
A measure of electrical power equal to one million watts. Megawatt hour (MWh) represents the number of megawatts produced or consumed in an hour.
The electricity consumption that is proxied by the withdrawal energy quantity (WEQ).
Monthly energy uplift charge.
Market network node or nodal energy prices are the prices received by generators. Nodal prices are determined according to the demand and supply characteristics of each of the injection nodes (market network nodes - MNNs), taking into consideration transmission losses and congestion on Singapore's electricity network. In the settlements reports, this is termed as the Market Energy Price (MEP).
National Electricity Market of Singapore.
With effect from June 2011, non-reserve charges (Energy Market Company fees, Power System Operator fees and monthly energy uplift charges) for embedded generation facilities will be administered based on their amount of net withdrawal (consumption) from, or net injection (generation) into the grid. To qualify for this treatment, an embedded generation facility requires approval from the EMA and registration with EMC as an embedded generation facility.
A market structure in which prices are calculated at specific locations, or nodes, in the power system to reflect the demand and supply characteristics of each location, taking into consideration transmission losses and congestion. Nodal pricing is also commonly referred to as locational marginal pricing. In the settlement reports, this is termed as the market energy price.
Consumers that are supplied by the Market Support Services Licensee (MSSL), SP Services, at a regulated tariff. These consumers have not been given the right to choose to purchase electricity from either a retail supplier, directly from the wholesale market or indirectly from the wholesale market through the MSSL, SP Services.
Total non-regulatory withdrawal energy quantity (in MWh) for each settlement interval, being the amount of forecast load not covered by regulatory contracts (vesting and forward sales contracts).
The implied energy consumption quantity (in MWh) of each load registered facility in each period, based on each LRF's bids.
An initiative by the Energy Market Authority (EMA) to enable all business consumers and households to buy electricity from a retailer of their choice at a price plan that best meets their needs, or remain on the regulated tariff rate.
Each half hour that the market clearing engine (MCE) runs. The MCE runs every half hour throughout the day, resulting in 48 trading periods each day.
The system comprising generation facilities and load facilities that are connected to the transmission system.
A large price deviation between two adjacent dispatch network nodes, normally caused by transmission congestion.
A reserve class that can be called upon within a 9-second response time and sustained for at least 10 minutes.
Probability of failure is a measure of the reliability of a generation registered facility.
Energy withdrawal target (in MW) calculated by the market clearing engine for each load registered facility (LRF) in each dispatch period, which includes both dispatchable and non-dispatchable portions of that LRF's consumption.
This denotes the capacity of a facility registered with the National Electricity Market of Singapore (NEMS). Registered capacity may differ from licensed capacity.
Generation that is on standby to fine-tune or correct frequency variations or imbalances between demand and supply in the power system.
The market price determined for regulation. The cost of regulation is largely borne by the load.
Regulatory load quantity (in MWh) for each settlement interval which is the aggregate of vesting quantities and forward sales quantities across all settlement accounts received by the EMC from the Market Support Services Licensee (MSSL).
Stand-by generation capacity or interruptible load that can be drawn upon when there is an unforeseen disruption of supply.
The market price determined for each of the three classes of reserve products traded (primary, secondary and contingency). The cost of reserve products is borne by the generators.
The price associated with the Residual Vesting Scheme for each half-hour Trading Period.
The quantity (in MWh) for the purpose of hedging residual non-contestable consumer (NCC) load that was not hedged by the prevailing hedge quantities under the Base Vesting Scheme, Tender Vesting Scheme and any new scheme EMA may from time-to-time introduce under the vesting regime.
The transactions made between retail companies and end consumers.
The one or more retailers who will take responsibility for the customers of a retailer that is no longer able to, or has lost the right to, retail electricity to its customers.
The implied energy consumption quantity (in MWh) of each load registered facility (LRF) in each period based on each LRF's dispatch schedule.
Forecast of the following 14 days' average system load for each half-hour period. It is sent to the market clearing engine once a day.
Singapore hub or SHUB means the MNN at which all energy taken from the transmission system by load facilities is deemed to be withdrawn and all energy injected onto the transmission system by generation facilities referred to in section 5.1.3 of Chapter 2 is deemed to be injected.
Steam turbine.
This measures the percentage of total supply available after matching off demand.
The price associated with the Tender Vesting Quantity for each half-hour Trading Period.
The quantity (in MWh) allocated via tender for hedging non-contestable consumer load over and above the Base Vesting Quantity.
A measure of electrical power equal to one million megawatts. Terawatt hour (TWh) represents the number of terawatts produced or consumed in an hour.
Sum of the load scheduled to be curtailed (in MW) across all load registered facilities for each half-hour period.
Any calendar day since 1 January 2003, when electricity prices are traded in the National Electricity Market of Singapore (NEMS). One trading day consists of 48 trading periods.
Any calendar month since 1 January 2003, when electricity prices are traded in the National Electricity Market of Singapore (NEMS). One trading month may contain up to 31 trading days.
Each year consists of four quarters. Q1 is from January to March, Q2 is from April to June, Q3 is from July to September and Q4 is from October to December.
A trading week starts on a Sunday and ends on a Saturday. Typically, each trading week contains 7 days. However, some trading weeks may contain less than 7 days, e.g., in 2003, Week 1 and Week 53 had only 4 days each.
The weighted-average of the nodal prices at all off-take nodes.
Forecast of the following 7 hours' average system load for each half-hour period. It is sent to the market clearing engine every period.
An instrument issued by the EMA to hedge the price of energy to be procured from the Singapore Wholesale Electricity Market (SWEM) for supply to non-contestable consumers. The vesting contracts are structured as bilateral two-way contract-for-differences between the Market Support Services Licensee (MSSL) and a holder who is typically a commercial generation company. A vesting contract requires these generators to sell a specified quantity of electricity at a specified price.
Wholesale electricity price which is the net purchase price paid by retailers, inclusive of all administrative costs and uplift charges incurred in the wholesale market. This price consists of the following cost components: USEP, AFP, HEUC, MEUC, Energy Market Company (EMC) fees and Power System Operator (PSO) fees.
The transactions made between generation companies and retail companies.
Total withdrawal energy quantity of all contestable consumers (in MWh), determined for the purposes of recovering load curtailment uplift charges.
This is measured in megawatt hour and refers to the amount of electricity withdrawn by load facilities. It is provided by the Market Support Services Licensee (MSSL), SP Services.
A load registered facility's (LRF) withdrawal energy quantity (in MWh). It is provided by the Market Support Services Licensee (MSSL), SP Services.
Withdrawal fee quantity (in MWh) refers to the net withdrawal or net injection energy quantity by a load facility and its associated embedded generation facility (if any). Energy Market Company (EMC) fee and Power System Operator (PSO) fee is charged based on WFQ. It is provided by the Market Support Services Licensee (MSSL), SP Services.
Withdrawal MEUC quantity (in MWh) refers to the net withdrawal energy quantity by a load facility and its associated embedded generation facility (if any). MEUC cost is charged based on WMQ. It is provided by the Market Support Services Licensee (MSSL), SP Services.