Singapore Energy Market Authority launches platform for exchanges in economic growth

Tan Sri Leo Moggie, Chairmain of Tenaga Nasional, shared perspectives as part of the inaugural EMA Distinguished Speaker Programme.

According to EMA, a new platform for the energy world to debate and exchange best practices, ideas and strategies with global leaders and luminaries was launched by the Energy Market Authority. Tan Sri Leo Moggie, Chairman of Malaysia’s largest electricity utility company Tenaga Nasional Berhad, delivered the first public lecture as part of the inaugural EMA Distinguished Speaker Programme, where he underscored the critical role of the electricity industry in sustaining economic growth.

During his lecture on “The Dynamics of the Electricity Supply Industry”, Tan Sri Moggie shared his perspective on key trends and challenges facing the industry with over 200 leaders in the public and private sectors and academia in attendance. Outlining the dynamics of the electricity supply industry, he noted that energy security, cost competitiveness, sustainability and safety are four conflicting elements that create a labyrinth of complexity. He called for a delicate balance to achieve a state of optimal equilibrium. Tan Sri Moggie also charted trends, challenges and strategies for countries in Southeast Asia.

Noting its strategic importance, the former Minister of Energy, Communications & Multimedia for Malaysia underscored electricity’s role as being essential for a country’s socio-economic development and highlighted that economic development is directly associated with the electrification rate.

Tan Sri Moggie also spoke about cross-border potential for the planned ASEAN power grid. He noted that it represents an important option to optimise the energy-resource utilisation among member countries to meet dynamic electricity demand requirements, while providing other benefits such as spinning reserve sharing and emergency transfer of energy when required.

Providing Singapore’s perspective on the energy landscape, Ms Chan Lai Fung, Chairman, Energy Market Authority, stated in her opening address that one of Singapore’s key strategies in ensuring access to reliable and competitively-priced electricity is to foster effective competition. “Our experience is that competition has helped us achieved substantial efficiency gains, and to some extent, helped mitigate the impact of volatile energy prices."

She added that in the long term, EMA is working towards opening up the entire electricity market to competition so all consumers can purchase electricity directly from different suppliers offering a range of retail packages. She also highlighted Singapore’s pilot project for an Intelligent Energy System (IES) as a first step towards developing a smarter grid for Singapore.

Moderated by Raju Gopalakrishnan, Bureau Chief for Singapore and Malaysia, Thomson Reuters, Tan Sri Moggie’s lecture is part of EMA's Distinguished Speaker Programme. This features industry movers and shakers in a series of public lectures on critical challenges in today’s energy landscape, which aims to inspire actionable strategies towards a sustainable energy future. 

In conjunction with the inaugural run of the lecture, EMA also launched a specially-commissioned publication, titled “Fuelling a Smart Economy”. The publication examines the energy issues impacting the world today and, in particular, Asia. Topics range from the nuclear security paradigm in light of the Fukushima crisis to the impact of rising oil prices caused by the upheavals in the Middle East and North Africa. Also covered are alternative energy strategies and solutions to establish greater stability and security in the global energy future. 

In line with EMA’s goal of forging a progressive energy landscape for sustainable growth, this thought leadership platform is the latest addition to EMA’s calendar of programmes – including the flagship Singapore International Energy Week (SIEW), which takes place from 31 October to 4 November this year. Together, the programmes provide a global platform to debate and exchange best practices, ideas and strategies within the energy space, contributing to the global effort to secure a more sustainable energy future.