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Malaysia sets up Energy Exchange Malaysia for cross-border sales of green electricity

Publish date: Mon, 15 Apr 2024, 12:21 PM

PUTRAJAYA: The Malaysian government has agreed to establish the Energy Exchange Malaysia (Enegem) to facilitate cross-border sales of green electricity to neighbouring countries.

The Energy Transition and Water Transformation Ministry, in a statement issued here today, said the setting up of Enegem is in line with Malaysia’s energy transition aspiration and commitment to support regional power integration via the Asean Power Grid Initiative (APG).

It said the cross-border sales of energy through the Enegem platform would be implemented based on the latest ‘Guide for Cross-Border Electricity Sales (CBES) issued by the Energy Commission.

As such, it is inviting interested and eligible parties to participate in the inaugural auction for the purchase of green electricity from Malaysia’s Electricity supply system to be supplied to Singapore via the Enegem Platform.

"The auctioning process for cross-border sales of green electricity shall commence with a 100 megawatts (MW) pilot run, utilising the existing interconnection between Singapore and Peninsular Malaysia,” read the statement.

It said among the key features of the auction for the purchase of green electricity is the pilot scheme which is open to Renewable Energy (RE) Bidders who hold electricity generation and/or retailer licences for the Singapore Electricity Market.

Interested RE Bidders are required to register with Single Buyer to participate in the auction, it said.

Upon completion of the qualification process, successful applicants would be notified to proceed with the auction to purchase Green Electricity on the designated auction day.

The winning bidders will then enter into RE Supply Agreements with the Single Buyer for the sales and purchase of green electricity.

Interested RE Bidders may register their intent to participate through the ministry or the Single Buyer’s website starting tomorrow (April 16).

The ministry emphasises that auctioning via the Enegem Platform would allow Malaysia to further strengthen its cross-border electricity integration framework while paving the way for greater renewable energy development and regional cooperation on cross-border energy trading between Asean countries.

The APG is an initiative to construct a regional power interconnection to connect the region, first on a cross-border bilateral term, and then gradually expand to a sub-regional basis leading to a total integrated South-East Asia power grid system. - Bernama

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