Malaysia sets up Energy Exchange Malaysia to trade green electricity with neighbouring countries
Arial view of Kuala Lumpur. NSTP/EFFENDY RASHID

KUALA LUMPUR, 15 APRIL 2024: Ministry of Energy Transition and Water Transformation (PETRA) today said the government has agreed to establish the Energy Exchange Malaysia (ENEGEM) to facilitate green electricity trading with neighbouring countries.

In a statement today, PETRA said it is kicking off the ENEGEM platform by inviting interested and qualified parties to participate in the bidding process for the purchase of green electricity supply from the Malaysian electricity supply system to be delivered to the Singapore electricity supply system.

Bidding for cross-border green electricity trading to Singapore will start with the implementation of a pilot project totaling 100 megawatts (MW) using existing interconnection infrastructure between Peninsular Malaysia and Singapore.

PETRA said the initiative is in line with the country's energy transition roadmap and commitment to supporting regional electricity supply integration initiatives through the ASEAN Power Grid.

Cross-border energy trading transactions through the ENEGEM platform will be conducted based on the latest "Guide for Cross-Border Electricity Sales (CBES)" issued by the Energy Commission.

The essence of the bidding process for the purchase of green electricity under this pilot project is as follows
a) This pilot scheme is open to reneable energy (RE) bidders who hold generation licenses and/or retail electricity supply licenses for the Singapore market;

b) Interested RE bidders must register with the Single Buyer to participate in the bidding process;

c) RE bidders applying for registration will be evaluated through a pre-qualification process. Successful applicants will be notified to bid for Green Electricity Supply on the bidding day; and

d) Successful bidders will sign a RE Supply Agreement with the Single Buyer for the successful bid green electricity supply transaction.

Interested RE bidders can register their participation intention through the PETRA website or the Single Buyer from tomorrow, April 16, 2024.

PETRA believes that conducting bidding through the ENEGEM platform will enable Malaysia to further strengthen the cross-border electricity supply framework, as well as to open up opportunities for broader RE development and cooperation through cross-border RE trading among ASEAN countries.

Source: New Straits Times 

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