Electricity Retailer
The Electricity Retailer Licence is required by the Energy Market Authority (EMA) for businesses intending to operate as electricity retailers in Singapore. The licence is valid for up to 10 years, with processing typically taking 8 weeks upon full submission of supporting documents.
- Validity
- Up to 10 years. For renewal of the licence, licensees may apply to EMA, in writing, no earlier than 3.5 years and no later than 2.5 years prior to the expiry of the licence
- Processing time
- 8 weeks upon full submission of supporting documents and receipt of complete information, unless otherwise informed by Authority
- Issuing authority
- ENERGY MARKET AUTHORITY (EMA)
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Who needs the Electricity Retailer
This licence applies to Singapore businesses registered under the following SSIC industry codes:
- Required to operateDivision 35 — ELECTRICITY, GAS, STEAM AND AIR-CONDITIONING SUPPLY
Includes: 35101 Generation of electricity from non-renewable sources, 35102 Generation of electricity from renewable sources, 35103 Transmission, distribution and sale of electricity, 35200 Manufacture of gas; distribution of gaseous fuels through mains; processing of natural gas
What's involved in getting the Electricity Retailer
The scope of the application — what must be in place, how the agency reviews, and where applications typically stall.
What this licence allows the business to do
The Electricity Retailer Licence enables a business to operate as an electricity retailer in Singapore, allowing it to buy electricity from the wholesale market and sell it to consumers.
What must be in place before the licence can be granted
Before the licence can be granted, several prerequisites must be met. These include having a completed Retailer Licence Application Checklist, which serves as a guide for the necessary documentation. The business must also provide audited financial statements, including balance sheets and cash flow statements, alongside projected financial statements for the next five years. A detailed hedging plan, which outlines the strategies for managing price risks in the electricity market, is also required. Additionally, the applicant must submit their ACRA Business Profile or Certificate of Incorporation, the Company Memorandum and Articles of Association, and a corporate bank account statement.
How the agency reviews and decides
The Energy Market Authority (EMA) reviews the application based on the completeness and accuracy of the submitted documents. The agency may take up to 8 weeks to process the application, starting from the date of full submission of all required documents. During this time, the EMA assesses the financial viability of the applicant and their preparedness to operate in the electricity retail market.
Common reasons applications stall
Applications for the Electricity Retailer Licence can stall for various reasons. Common issues include incomplete documentation, such as missing financial statements or an inadequate hedging plan. Additionally, discrepancies in the financial projections or failure to meet the EMA's financial stability requirements can lead to delays. Ensuring that all documents are accurate and complete before submission can help mitigate these risks.
Required documents and prerequisites
Items the applicant typically needs ready before submitting:
- Retailer Licence Application Checklist
- Please download and complete the application checklist here and upload as a supporting document.
- Document(s) Format(s): (*.jpeg, *.jpg, *.pdf, *.png)
- Audited statements, balance sheets, cash flow statements and credit statement
- Document(s) Format(s): (*.jpeg, *.jpg, *.pdf, *.png)
- Maximum upload per application: 7 MB
- 5 years projected financial statements, critical assumptions on the financial projection, proposed capital structure and an expense breakdown
- Document(s) Format(s): (*.jpeg, *.jpg, *.pdf, *.png)
- Maximum upload per application: 7 MB
- Applicant's ACRA Business Profile or Certificate of Incorporation
- Document(s) Format(s): (*.jpeg, *.jpg, *.pdf, *.png)
- Maximum upload per application: 7 MB
- Company Memorandum and Articles of Association
- Document(s) Format(s): (*.jpeg, *.jpg, *.pdf, *.png)
- Maximum upload per application: 7 MB
- Corporate Bank Account
- A copy of the company bank account statement or equivalent.
- Document(s) Format(s): (*.jpeg, *.jpg, *.pdf, *.png)
- Maximum upload per application: 7 MB
- Hedging Plan
Electricity Retailer FAQ
Do I need this licence to start operating as an electricity retailer?
Yes, the Electricity Retailer Licence is mandatory for any business intending to operate as an electricity retailer in Singapore. Without this licence, a business cannot legally sell electricity to consumers.
What can my business do once licensed?
Once licensed, your business can purchase electricity from the wholesale market and sell it to end consumers. This includes residential, commercial, and industrial customers, allowing for a competitive electricity retail environment.
What happens if I operate without it?
Operating as an electricity retailer without the required licence is illegal and can result in significant penalties, including fines and potential legal action by the Energy Market Authority (EMA). It is crucial to obtain the licence before commencing operations.
How does this fit relative to incorporating my company?
Obtaining the Electricity Retailer Licence is a separate process from incorporating your company. It is advisable to have your company incorporated first, as the licence application requires documentation that includes your business profile and corporate structure.
What's the most common reason applications get rejected?
The most common reason for rejection is incomplete or inaccurate documentation. This includes missing financial statements, inadequate hedging plans, or discrepancies in the projected financials. Ensuring all required documents are thoroughly prepared can help avoid this issue.
Can a foreign-owned company hold this licence?
Yes, a foreign-owned company can hold the Electricity Retailer Licence in Singapore, provided it meets all the necessary requirements and conditions set by the Energy Market Authority (EMA).
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Other EMA licences
Electricity Generation
The Electricity Generation Licence is required by the Energy Market Authority (EMA) for entities intending to generate electricity in Singapore. This licence is valid for 30 years, with processing times ranging from 4 to 6 months depending on project complexity and the completeness of submitted documents.
Electricity Wholesaler
The Electricity Wholesaler Licence is issued by the Energy Market Authority (EMA) in Singapore for entities involved in the wholesale trading of electricity. This licence does not have an expiration date, and processing typically takes up to 30 working days upon full submission of supporting documents.
Gas Shipper, Retailer or Importer
The Gas Shipper, Retailer or Importer licence is issued by the Energy Market Authority (EMA) in Singapore for businesses involved in the shipping, retailing, or importing of gas. The licence is valid for up to 10 years, with processing typically taking 8 weeks upon full submission of supporting documents.
Other Electricity and Gas licences
The Other Electricity and Gas Licences are issued by the Energy Market Authority (EMA) in Singapore for entities involved in the electricity and gas sectors. The validity of these licences varies, typically ranging from 10 to 30 years, with processing taking up to 8 weeks upon complete submission of required documents.