Cross-border green electricity trading platform in pipeline
PUTRAJAYA: The Malaysian government has agreed to establish the Energy Exchange Malaysia (Enegem) to facilitate cross-border sales of green electricity to neighbouring countries.
The Energy Transition and Water Transformation Ministry said in a statement yesterday the setting up of Enegem is in line with Malaysia’s energy transition aspirations and commitment to support regional power integration via the Asean Power Grid Initiative (APG).
It said the sale of energy on the Enegem platform would be implemented based on the latest guide issued by the Energy Commission.
It is inviting interested and eligible parties to participate in the inaugural auction for the purchase of green electricity from Malaysia’s electricity supply system to be channelled to Singapore via the Enegem platform.
“The auctioning process for crossborder sales of green electricity shall commence with a 100-megawatt pilot run, utilising the existing interconnection between Singapore and Peninsular Malaysia.”
It said among the key features of the auction for the purchase of green electricity is the pilot scheme, which is open to Renewable Energy (RE) Bidders who hold electricity generation and/or retailer licences for the Singapore Electricity Market.
Interested RE Bidders are required to have a“Single Buyer ”registration to participate in the auction.
Upon completion of the qualification process, successful applicants would be notified to proceed with the auction to purchase Green Electricity on auction day.
The winning bidders will then enter into RE supply agreements with the Single Buyer for the sales and purchase of green electricity.
Interested RE Bidders may register their intent to participate through the ministry or the Single Buyer’s website starting today.
The ministry said auctioning via the Enegem platform would allow Malaysia to further strengthen its cross-border electricity integration framework while paving the way for greater renewable energy development and regional cooperation on cross-border energy trading between Asean countries.
The APG is an initiative to construct a regional power interconnection to link the region, first on a cross-border bilateral term, and gradually expand to a sub-regional basis leading to a total integrated South East Asia power grid system.