Singapore's Energy Market Authority (EMA) and the United States' Federal Energy Regulatory Commission (FERC) signed a memorandum of understanding (MOU) yesterday in Washington, agreeing to work together towards enhancing energy security.
Under this MOU, the agencies will share regulatory practices and explore how best to keep energy systems cyber secure and reliable.
The MOU also cements further cooperation between the agencies at multilateral forums such as the Asia-Pacific Energy Regulatory Forum, which allows for the sharing of information on regulatory and policy practice and experience in the region.
The agencies have also agreed to share knowledge, and cooperate on training and exchange programmes.
Part of this tie-up will include joint research and the organising of multilateral workshops and seminars, as well as high-level dialogues between EMA and FERC.
At the MOU signing, the two agencies also discussed developments and trends in the electricity and gas markets, as well as some potential energy-related collaborations this year and next year.
Mr Ngiam Shih Chun, chief executive of EMA, welcomed the MOU as a key milestone in Singapore's bilateral energy cooperation with the US.
"We look forward to building on our excellent cooperation with FERC over the years," he said.
"Both our agencies will benefit from sharing expertise and best practices on a range of energy issues, which will allow us to enhance our energy security and resilience."
Mr Neil Chatterjee, chairman of FERC, said: "Sharing best practices between energy regulators is an important aspect of promoting efficient and transparent regulation around the world.
"I am proud to have signed today's MOU between FERC and the Singapore Energy Market Authority to facilitate the exchange of information and experiences on reliability, cyber security and wholesale energy markets between our two countries."