Singapore, UK plan new energy market collaboration

The two countries will cooperate on energy-related topics such as market regulation, clean energy technologies.

Singapore and the United Kingdom have signed a Joint Statement of Intent to Cooperate, which seeks to strengthen the bilateral energy cooperation between the two countries' energy distribution regulators, according to a joint announcement.

Under this, Singapore’s Energy Market Authority (EMA) and the Gas and Electricity Markets Authority (GEMA) of the UK will collaborate on energy-related issues such as market regulation and clean energy. GEMA is the governing board of the Office of Gas and Electricity Markets (Ofgem).

EMA and Ofgem will hold a bilateral dialogue virtually in Q1 2021, with a focus on energy market regulation and the deployment of clean energy technologies, such as hydrogen and carbon capture, utilisation and storage (CCUS).

The two regulators held their first bilateral dialogue in London last November 2019, where they welcomed opportunities for closer collaboration on gas and electricity market regulation and design, according to the press release.

Photo courtesy of Dominika Gregušová (Pexels).