Working at EMC Singapore: Company History, Culture, Benefits, and Leadership

Energy Market Company (EMC), an SGX Group’s member, directs Singapore's wholesale electricity market, inaugurated as Asia's initial liberalized market on January 1, 2003. As a pivotal exchange for wholesale electricity trading, EMC handles price calculation, generation scheduling, and transactions surpassing S$5 billion yearly. Aniday provides in-depth information on EMC Singapore, covering Company History, Culture, Benefits, and Leadership.

General Information

Energy Market Company Pte Ltd (EMC) is responsible for overseeing the wholesale market within the National Electricity Market of Singapore (NEMS), marking the inception of Asia's inaugural liberalized electricity market on January 1, 2003.

Serving as the pivotal exchange for wholesale electricity trading, EMC operates a transparent and competitive trading platform. The core activities of EMC encompass price calculation, generation scheduling, clearing and settling market transactions, and providing essential support for market governance.

With a dedicated team of over 70 professionals, EMC facilitates transactions exceeding S$5 billion in electricity products on an annual basis. Notably, EMC holds membership within the Singapore Exchange group of companies, solidifying its integral role in the energy market landscape.

Company History

Establishment and Ownership:

• EMC is a wholly-owned subsidiary of the Singapore Exchange (SGX) Group.

• Established in 2001 as a joint venture between the Energy Market Authority (EMA) and M-Co (The Marketplace Company) Pte Ltd.

• EMA owns 51 percent, and M-Co holds 49 percent initially.

Acquisition by SGX Group:

• Through SGX wholly-owned subsidiary, Asian Gateway Investments Pte Ltd (AGI), SGX acquired M-Co's 49 percent stake in EMC on August 6, 2012. 

• Further acquired EMA's 51 percent share on October 1, 2014, making EMC a wholly-owned subsidiary of AGI.

Role and Activities:

• EMC serves as the exchange for wholesale electricity trading.

• Provides a transparent and competitive trading platform.

• Calculating prices, scheduling generation, clearing and settling market transactions are key activities in EMC

• Supports governance of the market.

Operational Overview:

• Managed and operated by approximately 70 professionals.

• Transaction volume in 2022: Over S$11 billion worth of electricity products.

Company Culture 

Work - Their workforce fuels the engine

They firmly believe that the prowess of their team empowers them to lead and revolutionize the world for a brighter future. Join their ranks to unleash your capabilities and contribute to shaping a better world.

Play - Take a Break and Recharge

Recognizing the significance of recharging amid the hard work to keep everything running smoothly, they actively advocate for and support their team members in taking breaks. This commitment fosters a sustainable work environment, encourages creativity, and prepares them for the upcoming challenges.

Live - Guiding Principles

Their primary focus is on nurturing enduring and meaningful connections within EMC and with their partners to ensure an uninterrupted flow of power. They also aspire to extend their influence beyond EMC, empowering communities to take control of their destinies.

Corporate Responsibility

They are committed to make a positive impact on the environment and the communities they serve. This commitment is reflected in their comprehensive Corporate Social Responsibility Programme, which engages not only EMC staff but also participants in the market. 

EMC maintains enduring partnerships with their adopted charity organizations, ensuring sustained support for beneficiaries to lead independent and fulfilling lives in the future. Additionally, they actively participate in industry-wide initiatives to raise awareness of corporate citizenship, contributing to a collective effort to make a meaningful difference.

Employee Benefits

Pension Plans:

• EMC Corporation offers various options for pension plans.

• Employer-sponsored pension plans aim to ensure a stable source of income in retirement.

Health Insurance:

• EMC Corporation funds group health insurance for its employees.

• A large portion of each worker's health insurance premium is covered by the employer.

Insurance Coverage:

• Health, dental, and vision insurance are provided by EMC Corporation.

• Group life insurance is offered, providing coverage for specified causes of death.

• Short-term disability insurance covers accidents or illness.

• Long-term disability insurance is also available.

Defined Contribution Pension Plans:

• EMC Corporation provides defined contribution pension plans.

• These plans assist employees in saving and investing for their retirement.

Company Leadership

• Agnes Koh - Chairman: serves as the Chief Risk Officer at Singapore Exchange (SGX Group). In this role, she spearheads enterprise risk management activities, establishes risk frameworks for new products and business strategies, manages clearing risks for securities and derivatives clearing houses, and enhances operational resilience and business continuity for EMC and SGX Group.

• Lee Beng Hong - Director: is instrumental in advancing the group's digital transformation and sustainability. He oversees initiatives such as the digital asset joint venture with Temasek, Marketnode, and contributes to Climate Impact X (CIX), a global exchange for voluntary carbon credits.

In Summary  

Energy Market Company Pte Ltd (EMC) oversees Singapore's wholesale electricity market, established as Asia's first liberalized market on January 1, 2003. Serving as a key exchange for wholesale electricity trading, EMC manages price calculation, generation scheduling, and market transactions exceeding S$5 billion annually. Aniday has offeres some comprehensive information on EMC Singapore, including details about Company History, Culture, Benefits, and Leadership.