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1.
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What is an Electricity Vending System?
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An Electricity Vending System (EVS) is an innovative concept of integrating the state-of-the-art smart metering technologies and the existing electronic payment (e-payment) infrastructure and will enable electricity consumers to purchase any amount of electricity at competitive prices, from any electricity retailer of their choice.
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2.
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Why is EMA implementing the Electricity Vending System project?
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Since 2001, EMA have liberalized the power generation and retail market in stages. This is to provide more competitive pricing and choices to consumers and businesses. Since 2003, about 10,000 large consumers, accounting for 75% of total electricity demand, have already become contestable. This means that retailers compete to sell electricity to these consumers.
To extend the benefits of contestability to household consumers, EMA is investigating the feasibility of implementing the EVS to allow household consumers to purchase electricity from retailers of their choice.
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3.
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When will the EVS project be completed?
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The EVS project is expected to be completed by second half of 2009.
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4.
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Is the Electricity Vending System prototype the first such system in the world?
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To the best of our knowledge, the EVS is the first such system using e-payment infrastructure, advanced metering infrastructure and telecommunications technologies to allow vending of electricity through e-payment infrastructure, to remotely read from and send credits to smart meters installed at premises over a wide area and to facilitate settlements of electricity wholesale market and electricity network services.
EMA has applied for a patent with the Intellectual Property Office of Singapore (IPOS) for the Electricity Vending System.
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5.
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In the long term, how will the Electricity Vending System benefit a residential consumer?
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The benefits to a residential consumer under the EVS, if it is found feasible for full implementation, will be:
Ability to monitor half-hourly electricity costs - to enable consumers to make the right decision to reduce wastage of electricity or shifting electricity usage pattern to save costs;
Contestability - offers consumers a choice of electricity retailers so that they can take advantage of more attractive electricity prices and packages offered by the retailers;
Easy budgeting of electricity expenditures - since consumers will be able to monitor the half-hourly electricity expenditures and take control. Consumers will also be able to purchase electricity for various durations, e.g. on a weekly or fortnightly basis, etc. depending on their cash flow situation;
E-payment - provides the convenience of multiple payment methods from familiar outlets such as Auto-Teller Machines, payment kiosks, mobile phones, Internet and retail outlets. With e-payments, there will be no need for paper bills;
Remote meter reading - means that their electricity consumption is measured more frequently and consumers can receive accurate consumption information timely without the need for estimation in between actual meter reads under the current bi-monthly meter read cycle.
Value-added services - may be provided by retailers to help consumers manage their electricity expenditures, such as innovative electricity conservation methods through home automation devices, etc.
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