How will EMA and EGC boost energy market surveillance?

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Singapore and Japan Enhance Energy Market Surveillance Through New Partnership

Singapore’s Energy Market Authority (EMA) and Japan’s Electricity and Gas Market Surveillance Commission (EGC) have established a new partnership aimed at strengthening collaboration in energy market regulation. This collaboration, formalised through a memorandum of cooperation signed on Monday, will facilitate enhanced information exchange and knowledge sharing on gas and electricity markets. The initiative is designed to ensure regulatory practices remain current amidst a rapidly changing energy landscape, ultimately contributing to the stability and reliability of energy supplies for both nations.
Knowledge Exchange on Surveillance and Regulation

The memorandum of cooperation specifically targets the exchange of knowledge concerning energy market surveillance approaches, the design of regulatory frameworks, and measures to ensure system stability. This will allow both EMA and EGC to learn from each other's experiences and best practices in overseeing their respective energy markets. By sharing insights, the two bodies aim to refine their methods for monitoring market activities and ensuring fair competition.
Ensuring a Well-Functioning Energy Market

EMA chief executive Puah Kok Keong highlighted that these exchanges are integral to the ongoing efforts to maintain a well-functioning energy market and a reliable power supply. He emphasised the critical need to keep regulatory practices updated in response to the dynamic nature of the energy sector. This proactive approach is intended to anticipate and address potential issues before they impact consumers or market integrity.
Addressing Challenges in Energy Supply

Tatsuya Shinkawa, Secretary General of EGC, stated that this collaboration will empower Singapore and Japan to collectively address the challenges inherent in ensuring a dependable energy supply and well-functioning electricity markets. The partnership provides a platform for joint problem-solving and the development of robust strategies to navigate the complexities of modern energy systems. The shared understanding gained through this cooperation is expected to bolster the resilience of both countries' energy infrastructures.

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How will EMA and EGC boost energy market surveillance?

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