PowerSelect, which serves customers with an average monthly consumption of at least 10MWh, is the most comprehensive electricity procurement portal in Singapore to date and developed by Energy Market Company (EMC), a wholly-owned subsidiary of Singapore Exchange (SGX), PowerSelect offers different procurement options including a unique 15-minute live auction, houses data from the wholesale and futures electricity markets to help businesses make decisions around their electricity purchases.
SGX CEO Loh Boon Chye says, “EMC has a 15-year track record in enhancing the efficiency and transparency of Singapore’s wholesale electricity market. Tapping on this experience, SGX launched Asia’s first electricity futures market to support the liberalisation of Singapore’s power sector, providing electricity retailers with an avenue to hedge risks. I am delighted that we are now extending our services to benefit business consumers as well.”
EMC has been licensed by the Energy Market Authority (EMA) to operate Singapore’s wholesale electricity market since 2003.