Singapore — The Energy Market Authority (EMA) is considering a policy of paying consumers with their own sources of generating energy, such as solar power, for supplying the excess energy they generate to the grid.
The EMA announced this idea today as part of a public consultation on the regulatory framework for intermittent generation sources at the Singapore International Energy Week (SIEW).
In his opening remarks, Second Minister for Home Affairs and Trade and Industry S Iswaran said the review is to facilitate greater distribution of renewable energy sources and help them integrate into the current electricity market, according to reports.
The EMA said it will raise the hard cap on the amount of intermittent sources that can be supplied to the grid from 350MWp to 600MWp.
The public consultation will conclude in January 2014.
Mr. Iswaran also announced an EMA Demand Response scheme in 2015 that will allow consumers to monitor prices of energy and reduce their electricity usage when prices are higher. More details of the scheme will be released this week at SIEW.
Singapore is also planning to launch an electricity futures market in the second half of next year which will allow industry players to trade contracts of electricity products at specified prices. Image/questpointsolarsolutions.com