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Roundtable E: Unlocking Power System Flexibility: Innovative Wholesale Market Design and Business Models


02 November 2018


09:00 AM - 12:00 PM


Sands Expo and Convention Centre, Marina Bay Sands Singapore


Ms Jennifer RIESZ, Australian Energy Market Operator (AEMO)
Dr Dae Kyeong KIM, Asian Development Bank
Mr Nicolas PAYEN, Positive Energy Ltd
Mr Martin LIM, Electrify Asia
Mr Itamar ORLANDI, Bloomberg NEF
Dr Aaron PRAKTIKNJO, E.ON Energy Reseach Center at RWTH Aachen University, Germany

Dr LIU Yang, Energy Studies institute


Renewable energy integration raises new challenges for grid planning and operations. Enhancing power system flexibility is key to coping with large disturbances resulting from renewable energy integration. Flexibility assets such as dispatchable thermal generation, demand-side resources and electricity storage must be considered to ensure regulation of supply. As the roles of market players are changing with the introduction of new technologies and flexibility assets, the Singapore wholesale electricity market (“SWEM”) design needs to be reviewed.

An innovative market design is critical to provide proper valuation of flexible services and sufficient reserve capacity, ensuring system security.  The market design/mechanisms introduced should be able to provide answers to the following questions to ensure SWEM remains competitive:

- How will thermal plants be compensated for additional costs incurred due to increased cycling (i.e ramping up and down of thermal plants)?   

- To what extent can the aggregator of distributed energy resources provide flexible services?    

- With the introduction of intermittent energy resources, will price signals be sufficiently cost-reflective to encourage demand side participation?    

- Which business models will enable new and existing entrants to have revenue security, with the changing market conditions?    

- Will there be sufficient investment signals to encourage new entrants in the energy market?    

- Is there a need for additional incentives/policy reforms for renewable energy providers to recover their fixed cost?    

- Will the volatility of the energy markets discourage voluntary contracts which reflect the different risk preferences of market players?

This roundtable will bring together global industry experts and business leaders to access opportunities to unlock the system-wide flexibility potential through innovative market design, and investigate new business models to encourage long-term investments in modern power systems.

Programme Details


Presentation topics

08:30 to 08:55  

09:00 to 09:05  

Opening Remarks 
Dr Liu Yang
Senior Research Fellow, Energy Studies Institute

Session 1

Integrating Power Plants and Flexible Assets

09:05 to 09:20

Integration of Distributed Energy Resources in Australia
Ms Jennifer Riesz
Principal – Operational Analysis & Engineering
Australian Energy Market Operator (AEMO)

09:20 to 09:35

Demand Response-As the Tool of Flexibility
Dr Dae Kyeong Kim

Senior Energy Specialist, Asian Development Bank

09:35 to 09:50

Block Chain for the Electricity Market
Mr Nicolas Payen

CEO and Co-founder, Positive Energy Ltd.

09:50 to 10:15

Panel Discussion

10:15 to 10:45

Tea Break and Networking

Session 2

Electricity Market Redesign

10:45 to 11:00

Time of Use Pricing and Smart Contracts
Mr Martin Lim

Co-founder & Chief Operations Officer, Electrify Asia

11:00 to 11:15

Global Experiences with Markets and Technologies for Grid Flexibility
Mr Itamar Orlandi

Head of Frontier Power research, Bloomberg NEF
11:15 to 11:30

Support of Renewable Electricity and Investments in Conventional
Generation - Experiences from the German 'Energiewende'
Dr Aaron Praktiknjo

Assistant Professor, E.ON Energy Research Center at RWTH Aachen
University, Germany

11:30 to 11:55

Panel Discussion         

11:55 to 12:00

Closing Remarks
Dr Liu Yang

Senior Research Fellow, Energy Studies Institute     

Speakers’ biography

Professor Aaron Praktiknjo is assistant professor for Energy Resources and Innovation Economics at the E.ON Energy Research Center at RWTH Aachen University in Germany and independent consultant. He holds a PhD in energy system analysis from TU Berlin. His research group focuses on energy market design and security of energy supply. Professor Praktiknjo and his group received awards for their research from the International Association for Energy Economics (IAEE), the European Energy Exchange (EEX), RWTH Aachen University, and the Dutch Province of Limburg amongst others. He is President of the German Association for Energy Sciences and Energy Policy (GEE), the German affiliate of the IAEE, and spokesperson of the Research Network Energy System Analysis of the German Federal Ministry for Economic Affairs and Energy. Together with Professor Peter Zweifel and Professor Georg Erdmann, he co-authored the textbook 'Energy Economics - Theory and Application'.

Dr Jennifer Riesz is a Principal at the Australian Energy Market Operator (AEMO).  She is working on adapting AEMO’s processes and functions to ensure ongoing security and reliability, as the power system transforms over the coming decades.  She is leading work on integration of Distributed Energy Resources (DER), particularly focusing on identifying technical challenges across the power system, understanding the behaviour DER during disturbances, review of DER performance standards, and development of dynamic models for load and DER behaviour. Prior to this, Jennifer was a Research Associate with the Centre for Energy and Environmental Markets (CEEM), at the University of New South Wales (UNSW). Her research focused on high penetration renewable power systems (including 100% renewable power systems), with a focus on the design and operation of electricity markets.   Jennifer was formerly a Senior Consultant in the Energy Strategic Advisory team at AECOM and prior to that the Principal of Renewable Energy and Climate Policy at ROAM Consulting.

Mr Dae Kyeong Kim is the senior energy specialist (Smart Grids) of the Sustainable Development and Climate Change Department of ADB. His major roles are the support of operations department and the development & management of knowledge in smart grid area. Prior to join ADB, he worked at private sector for 3 years and public sector for 30 years as a power system engineer and researcher in Korea. He was the person in charge of the National Smart Grid Roadmap, the 1st Smart Grid Action plan and Smart Grid R&D Program Planning in Korea. He had been actively participated in the international collaboration activities such as APEC EGNRET, APEC Smart Grid Initiative, ISGAN (International Smart Grid Action Network) and so on. Through these activities, he becomes familiar to the status of smart grid of both developed countries and developing countries.

French national, Nicolas Payen has 15 years of experience in both engineering and marketing/commercial leadership roles. His deep-tech journey started in 2008 as the co-founder of a start-up named Efficient Home looking after the emerging market of the Smart Homes / Smart Grid for Schneider-Electric. In 2012 he released the connected residential energy management system named WISER. This connected solution was then deployed in the largest French Smart Grid pilot.
In 2013, he moved to Hong-Kong to head the Smart Space Category for the Asia Pacific and to lead the deployment of a channel partner program for the building technology’s system integrators of Schneider Electric. In March 2016, he became the Global Head of Internet of Things for MANN+HUMMEL, where he led an Innovation Lab and a Global Competency Centre on smart devices, digital services, big data, and AR/VR. In April 2017, Nicolas created the Future Economy Studio – a digital ventures building company in Singapore.

Itamar Orlandi is Head of Frontier Power Research at Bloomberg NEF (BNEF) where he leads its Frontier Power research team, covering innovative ways to achieve energy autonomy and integrate distributed resources with the larger grid. Itamar  has been with BNEF since 2011, and has previously led the company´s Applied Research work as well as the European power and carbon markets desk. In these roles he worked with investors, oil & gas and technology companies and development finance organizations on multiple market studies for clean energy investments.

He holds the Chartered Financial Analyst designation as well as an MSc from the London School of Economics.

Martin (The Martinator) Lim, Co-founder & Chief Operations Officer, Electrify Asia. A perpetual problem solver, ideas-generator and new business connector, he has transformed idealistic startups into newsworthy, profitable businesses as the lead in corporate planning, business development and consolidation, for more than a decade. His interest in energy and water led him to co-found Arteton Sdn Bhd to develop water treatment systems for disaster relief in the region.

With his latest venture, ELECTRIFY.SG, his partner, Julius Tan and himself intend to ignite the electricity retail industry by creating a retail marketplace and simplifying the entire electricity purchasing process.

ELECTRIFY.SG is Singapore's first marketplace for retail electricity plans. With the upcoming liberalisation of the power market, ELECTRIFY.SG allows business and household consumers to search for an electricity plan and sign-up directly with electricity retailers. Their marketplace is powered by Fibonacci™, our proprietary electricity pricing engine that enables retailers to offer dynamic prices to end-users.

Dr. LIU Yang is a Senior Research Fellow in Energy Studies Institute at the National University of Singapore. He leads research and consultancy projects in the areas of the integration of renewables and energy efficiency, energy market design, and policy evaluation. Some of his recent work includes roadmaps for integration of solar energy and battery storage technologies, prospects of energy services market in ASEAN, and electricity market design for smart grids. Dr. Liu has 15 years’ experience with the energy industry, government bodies and academia, including as an energy specialist at the International Energy Agency, where he co-authored the 2015 and 2016 IEA Global Energy Efficiency Market Reports, and provided technical assistance to improve urban energy systems in China. He earned his Ph.D. in Energy Economics from the Ecole Polytechnique of France.

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Speakers’ biography


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