Energy Exemplar Partners the Energy Market Company in Advanced Modelling of Electricity Markets
● The software creates digital replicas of real-world energy markets and models a wide range of different scenarios
August 7, 2023 – Energy Exemplar, an energy simulation software developer, has announced an advanced modelling partnership with the Energy Market Company (EMC), operator of Singapore’s wholesale electricity market.
EMC will thus be enhancing their existing modelling capabilities to envision possible future energy landscape scenarios and influence the development of Singapore’s electricity market.
PLEXOS will empower EMC to steer the continuous evolution of NEMS and be a leading modelling expert in Asia. The software, which can model the entire energy ecosystem at scale and solve operation decisions, will also enable EMC to understand the impact of Singapore’s plan to reach net-zero carbon emissions for the power sector by 2050.
EMC joins a rising wave of companies turning to advanced modelling technologies to remain agile and reliable amidst digitalisation and decarbonisation in the energy sector.
David Wilson, CEO at Energy Exemplar, said: “We exist to help energy companies and authorities all over the world plan for the future by simulating a diverse and almost limitless set of scenarios.
“Our software is designed to be highly intuitive so that our partners and customers can simulate policy scenarios and understand their impact on the market easily and with confidence.
“We’re pleased that EMC is adopting PLEXOS to get a better understanding of the economic implications of policy changes on Singapore’s journey to reach net-zero carbon emissions for the power sector by 2050.”
Toh Seong Wah, CEO at Energy Market Company, said: “The Singapore wholesale electricity market has seen significant developments over the last 20 years, and EMC needs to be equipped with the right technology to meet changing demands.
“Partnering with Energy Exemplar will allow us to further develop our expertise in energy market modelling and deepen our knowledge of how the energy transition will impact the energy market.
“The insights gained will put EMC in good stead to forge a sustainable and resilient energy market for many more years to come.”
ENDS
About Energy Exemplar:
Energy Exemplar is the leading simulation software provider for the world energy market. Headquartered in Australia but with a global presence, it gives energy companies the tools and expertise to light a path forward to a cleaner, greener future. Its state-of-the-art modelling software, including the world-leading PLEXOS suite, empowers more than 500 clients across 73 countries to run simulations, analyse scenarios, simplify decisions and make the switch quickly and safely to net zero. Now the go-to provider of energy solutions for the world’s top market stakeholders, Energy Exemplar is helping to shape tomorrow’s world.
For more information about Energy Exemplar, please visit: www.energyexemplar.com
About Energy Market Company:
Energy Market Company (EMC) operates the wholesale market of the National Electricity Market of Singapore (NEMS), which is Asia’s first liberalised electricity market. EMC completes the connection between those who make electricity in Singapore and those who use it.
As the exchange for wholesale electricity trading, EMC provides a transparent and competitive trading platform and its key activities include calculating prices, scheduling generation, clearing and settling market transactions as well as supporting governance of the market.
In line with its mission of building successful energy markets, EMC also provides training and consultancy services to promote the development of competitive electricity markets in countries that are embarking on the path of market liberalisation. EMC is a subsidiary of the SGX Group.
For more information on EMC, please visit www.home.emcsg.com
