The Malaysian government has agreed to establish Energy Exchange Malaysia (ENEGEM) to facilitate the cross-border sale of green electricity to neighbouring countries in Southeast Asia.
The Ministry of Energy Transition and Water Transformation (Petra) is also 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 will begin with a 100 MW pilot run, utilising the existing connections between Singapore and Malaysia. The pilot scheme is open to renewable energy bidders holding electricity generation and/or retailer licenses for the Singapore Electricity Market. Interested parties can register with a single buyer to participate in the auction starting April 16, 2024. Upon completing the qualification process, successful applicants will 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. The cross-border sales of energy through the ENEGEM platform will be implemented based on the latest Guide for Cross-Border Electricity Sales issued by the Energy Commission.