The Energy Market Authority (EMA) of Singapore and the Gas and ElectricityMarkets Authority (GEMA) of the United Kingdom signed a Joint Statement of Intentto Cooperate, which seeks to strengthen bilateral cooperation between the tworegulators. The Joint Statement of Intent falls within the framework of the SingaporeUnited Kingdom Partnership for the Future.
2. The GEMA is the governing board of the Office of Gas and Electricity Markets(Ofgem). In November 2019, EMA and Ofgem held their first bilateral dialogue inLondon, where both regulators welcomed opportunities for closer collaboration on gasand electricity market regulation and design. The dialogue also highlighted theimportance of emerging technologies in enhancing energy resilience and security.
3. EMA and Ofgem will hold their second bilateral dialogue virtually in the firstquarter of 2021. This will focus on energy market regulation and the deployment ofclean energy technologies, such as hydrogen and carbon capture, utilisation andstorage (CCUS).
4. Mr Richard Lim, EMA Chairman, welcomed the Joint Statement of Intent toCooperate as a significant milestone in EMA’s bilateral cooperation with Ofgem. Hesaid: “Energy regulators play an important role in ensuring the stability and resilienceof our power systems while facilitating energy transformation. Both agencies willbenefit from closer collaboration and sharing of best practices in regulating ourelectricity and gas markets.”
5. GEMA Chair Professor Martin Cave, said: “Ofgem is very pleased to formaliseour cooperation with the EMA through this Joint Statement. We continue to havemutually beneficial dialogues on how regulators and the regulatory framework canbest enable decarbonisation.”
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About the Energy Market Authority
The Energy Market Authority (EMA) is a statutory board under the Ministry of Tradeand Industry. Our main goals are to ensure a reliable and secure energy supply,promote effective competition in the energy market and develop a dynamic energysector in Singapore. Through our work, EMA seeks to forge a progressive energylandscape for sustained growth.
Website: www.ema.gov.sg | Follow us: Instagram: @EMA_Singapore | Facebook:facebook.com/EnergyMarketAuthority | Twitter: @EMA_sg
About the Gas and Electricity Markets Authority
The Gas and Electricity Markets Authority is the governing body of the Office for Gasand Electricity Markets (Ofgem). GEMA’s powers and duties are largely provided forin statute. Ofgem is Britain’s independent energy regulator and a non-ministerialgovernment department. Our role is to protect consumers now and in the future byworking to deliver a greener, fairer energy system.
Website: www.ofgem.gov.uk
For media enquiries, please contact:
Ms Tang Ying Chun
Manager, Corporate Communications
Energy Market Authority
Tel: +65 6376 7510
Email: tang_ying_chun@ema.gov.sg
Aidan Stringfellow
Senior Manager, Investor Relations
Ofgem
Tel: +44 (0) 20 7901 3085
Email: aidan.stringfellow@ofgem.gov.uk
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