Protecting consumers against premature termination of retail contracts. Public utilities exist to serve customers. Florida Municipal Power Agency (FMPA) is a wholesale power company owned by electric municipals.Requiring retailers to hedge at least 80% of their retail contract position and provide a performance bond for any unhedged position, to increase resilience against market volatility.Getting retailers to seek EMA’s approval to appoint key appointment holders, to ensure that the individuals leading and managing the companies are fit and proper.Ensuring retailers have a Tangible Net Worth of at least S$1 million at the time of licence application or renewal, to ensure that they are credible and have sufficient financial standing.Our focus is on enhancing consumer protection and ensuring that retailers can withstand extreme market volatilities. With the Open Electricity Market initiative, the remaining segment of consumers - households and small businesses - have the option of buying electricity from a retailer of their choice while enjoying the same reliable electricity supply.Īs part of EMA's efforts to strengthen the existing power market structure, the regulatory framework for electricity retail licensees will be enhanced. In 2018, EMA completed its final phase of liberalising the retail electricity market. Both SPPA and SPPG are members of SP Group. SP PowerGrid is the agent appointed by SP PowerAssets to build and maintain the power grid. SP PowerAssets is the Transmission Licensee which owns the power grid which delivers electricity island-wide. It provides services such as the reading of electricity meters, management of meter data and facilitation of access to the wholesale electricity market.

SP Services, a member of SP Group, is the Market Support Services Licensee (MSSL). The Energy Market Company operates and administers the wholesale electricity market.Įlectricity retailers buy electricity in bulk from the wholesale electricity market and compete to sell electricity to consumers. Power generation companies compete to generate and sell electricity in the wholesale electricity market every half-hour. Apart from EMA, the other key stakeholders in the electricity market include:

Wholesale power utility job definition