Term

Definition

Ancillary services

Those services required or provide for the security or reliability of the electricity system such as reserve, regulation etc.

Allocated Regulation Price (AFP)

The cost of purchasing regulation products from the market determined based on consumption.

Competition

Allowing two or more companies to produce or sell electricity in the same market.

Consumption

The amount of electricity used by a consumer.

Contestability

The right to choose between electricity retailers for electricity purchase.

Contestable
Consumers

Consumers who have been granted contestability and therefore have the right to choose between electricity retailers for electricity purchase.

Electricity Charges

Charges for electricity supply comprising basic components such as grid, energy and market support services charges.

Electricity Retailer

A company that sells or offers to sell electricity to contestable consumers.

Electricity Market Company (EMC)

The company, referred to in the Electricity Act as the “Market Company”, which holds an electricity licence authorising it to operate and administer the wholesale electricity market.

EMC Fees

The approved administrative costs for EMC to operate the NEMS.

Grid

A system of interconnected power lines that transport electricity from generators to consumers.

Hourly Energy Uplift Charge (HEUC)

Difference between total amounts received from retailers and total amounts paid to generators for energy, reserve, and regulation products.

Interval Meter

A meter that records electricity usage in each half hour interval.

KiloWatt-Hour (kWh)

The basic unit of electricity.

Liberalisation

The process of allowing competition in electricity production and retail so that consumers can have choices in buying electricity.

Load

The amount of electrical power required by a consumer.

Manual Meter Reading

Sending a meter-reader to consumers’ premises to download and obtain the half-hurly electricity consumption data stored in the interval meter. This is done only if remote meter reading fails.

Market Participant

A person (a) authorised by an electricity licence; and (b) registered in accordance with these market rules, to trade in any wholesale electricity market and includes a transmission licensee and any department of the Government which generates electricity before the day on which the Electricity Act came into operation.

Market Regulation Price (MFP)

Market price for regulation for a dispatch period.

Market Reserve Price (MRP)

Market price for reserve for a dispatch period and for a reserve provider group determined in accordance.

Market Support Services (MSS)

Service such as the buying of electricity indirectly from the wholesale electricity market for contestable consumers at spot prices, reading meters, managing meter data, administering transfer processes, and providing electricity to non-contestable consumers at regulated tariffs.

Market Support Services (MSS) Charges

Charges to cover the costs of market support services, such as transfer processing fees, meter reading fees, etc.

Market Support Services Licensee (MSSL)

A company that is authorised by an electricity license to provide market support services.

Metering

The measurement of the flow of electrical energy.

Metering Data

Electrical quantities measured and recorded by a metering installation.

Metering Error

An error in the metering data or in the corrected metering data in respect of a given trading day provided by the market support services licensee to the EMC.

Monthly Energy Uplift Charge (MEUC)

A charge levied on wholesale market participants to recover costs otherwise not recoverable in the spot market e.g. the cost of procuring contracted ancillary services and related costs, compensation claims and refunds, financial penalties and refunds, estimated monthly energy uplift shortfall to be recovered and/or deducted in the following calendar month.

Non-Contestable
Consumers

Consumers who are required to take supply from the MSSL.

Off-Peak Period

Period of time when there is relatively low demand for electricity.

Peak Period

Period of time when there is relatively high demand for electricity.

Power System Operator (PSO)

The authority acting in its capacity as the person responsible for ensuring the security of supply of electricity to consumers and arranging for the secure operation of the transmission system.

PSO Fees

The approved administrative costs for PSO to operate the NEMS.

Regulated Tariffs

Electricity prices for non-contestable consumers that are approved by the regulator.

Regulation

In relation to a generating unit, the frequent adjustment to its output so that any power system frequency variations or imbalances between load and the output from generation facilities can be corrected.

Regulation Price

The price of regulation determined by the market clearing engine for a given dispatch period.

Regulator

The entity that has regulatory oversight over the Singapore electricity market (the EMA).

Remote Meter Reading

Using a telephone line, which is connected to the interval meter, to obtain the half-hourly electricity consumption data stored in the interval meter.

Reserve

An ancillary service consisting of generation capacity that is available to, or load that can be interrupted by, the PSO in the event of an unexpected outage of scheduled plant.

Reserve Price

The price of reserve for a given reserve class determined by the market clearing engine for a given dispatch period.

Retail Electricity Licensee

A person who is authorized by an electricity licence to retail electricity to a contestable consumer e.g. Tuas Power Supply Pte Ltd.

Retail Electricity Market

An electricity market where retailers compete to sell electricity to consumers.

Spot Market

The "real-time" market consisting of a half-hourly auction of electricity by generators to meet projected demand.

Spot Prices

Prices determined half hourly at the wholesale market depending on demand and supply.

Transmission

The conveyance of electricity by means of a system which consists wholly or mainly of electric lines and electrical plants. The system is used for conveying electricity (a) from an electrical plant to a substation;
(b) from one electrical plant to another from one substation to another; (c) from a substation or electrical plant to the electrical installation  serving the consumer's premises or directly to the consumer's premises (where such premises are not served by an electrical installation).

Transmission Charges

The charges for the use of the transmission system to deliver electricity to consumers’ premises.

Transmission Licensee

A person authorized by a transmission licence to transmit electricity.

Transmission System

The system of interconnected electric lines owned by a transmission licensee for the purpose of conveying electricity.

Uniform Singapore Energy Price (USEP)

The uniform purchase price for energy that is paid by retailers.

Vesting Contract

A contract or other financial arrangement between a market support services licensee and a generation licensee for the production and sale of a specified quantity of electricity at a specified price known as the vesting price.

Vesting Debit/Credit

The difference between spot prices and vesting price on the demand that is covered by vesting contract.

Vesting Period

A period of three months commencing on the first day each of January, April, July and October in any year

Wholesale Electricity
Market

An electricity market established by market rules for the trading of electricity, ancillary services or any other electricity related products or services