Singapore, Japan ink pact to boost cooperation on energy market regulation

[SINGAPORE] The Energy Market Authority (EMA) of Singapore and Japan’s Electricity and Gas Market Surveillance Commission (EGC) on Monday (Jul 13) signed a memorandum of cooperation (MOC) to strengthen bilateral collaboration on energy market regulation.

The agreement was signed in Singapore by EMA CEO Puah Kok Keong and EGC secretary general Tatsuya Shinkawa.

The MOC aims to promote cooperation and information exchange on gas and electricity markets, said the agencies.

“It will also facilitate greater knowledge exchange on energy market surveillance approaches, regulation design and system stability measures,” they added.

Activities under this MOC include dialogues between EMA and EGC, technical exchanges, study visits and joint research opportunities.

“Given the rapidly evolving energy landscape, it is important that our regulatory practices are kept up to date,” said Puah. “Our exchanges with EGC are part of our efforts to ensure a well-functioning energy market and the reliability of power supply.”

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Echoing these sentiments, Shinkawa highlighted the shared characteristics of both countries’ energy sectors.

“Japan and Singapore face similar challenges in ensuring reliable energy supply and well-functioning electricity markets,” he stated, adding that the MOC will enhance consumer protection.