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Energy Market Company Launches Electricity Procurement Portal for Businesses

Nov 16, 2018 Picture:  PowerSelect's unique 15-minute live auction helps businesses secure the best electricity offers in the shortest possible time SINGAPORE - (ACN Newswire) - A new online portal which helps businesses purchase electricity efficiently - PowerSelect by Energy Market Company (EMC) - has enabled Sakae Holdings to save more than $12,000* in electricity bills over the next 12 months. PowerSelect is developed by EMC, a wholly-owned subsidiary of Singapore Exchange (SGX), and is the most comprehensive electricity procurement portal for businesses in Singapore. 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, and is supported by a good mix and number of electricity retailers in Singapore. Says SGX CEO Loh Boon Chye: "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 their 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. "We understand the power business and have strong ties with industry players like electricity generators and retailers. PowerSelect was developed with the knowledge, experience and relationships that we have built over the years," says Toh Seong Wah, CEO of EMC. PowerSelect serves businesses with an average monthly consumption of at least 10MWh, which is equivalent to a monthly electricity bill of at least $2,000. Sakae Holdings is PowerSelect's first customer (see Annex A for a case study on Sakae Holdings' electricity procurement exercise through PowerSelect).... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Energy Market Company Launches Electricity Procurement Portal for Businesses, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you Energy Market Company Launches Electricity Procurement Portal for Businesses

 

 

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Published By: ASIA TODAY - Friday, 16 November, 2018

 

 

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