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EMA moves ahead to launch regulatory sandbox for electricity, gas sectors
THE Energy Market Authority (EMA) is moving ahead to launch a regulatory sandbox for the energy sector on Monday, four months after consulting the industry on the idea.
This will enable the energy sector to test new products and services in the electricity and gas sectors, as well as allow the EMA to assess the impact of these before deciding on the appropriate regulations, it said.
It will also complement ongoing research and development initiatives in the sector, by providing a platform for such projects to be tested on a broader scale in Singapore.
New products and services that it hopes to test within the sandbox can include efforts to leverage new technology, or the application of existing technology in novel ways.
Other evaluation criteria include whether the proposal addresses a problem or brings benefits to consumers, requires some changes to existing rules, and has assessed and mitigated foreseeable risks.
EMA chief executive Ng Wai Choong said that the agency would like to encourage more experimentation in the electricity and gas sectors, so that promising innovations can be tested and have a chance for wider adoption in Singapore and overseas.
"At the same time, the regulatory sandbox will help EMA adjust its regulatory frameworks to keep pace with advances in technology," he said.