NEM Nova

One of the categories of the NEM 3.0 is Programme NEM Nova, with Nova defined as Net Offset Virtual Aggregation. It is aimed primarily at the commercial and industrial sectors to increase their renewable energy uptake by prioritizing the use of solar energy resources. The NEM Nova also positions itself as a means to manage and reduce business expenses through the installation and use of solar photovoltaic (PV) systems. Excess energy not consumed within such premises will be exported via the Supply System through two different arrangements aptly termed Category A and Category B.

Under Category A

Excess energy is exportable through the Supply System to the Distribution Licensee. The exported excess energy’s value will then offset the NOVA consumer’s electricity bill for the succeeding billing period as this will be credited to their account. For this billing offset arrangement, the Average System Marginal Price (SMP) will be the basis for the energy’s unit price.

Under Category B

Excess energy is exportable through the Supply System to up to three (3) Designated Premises. The exported excess energy’s value will then offset the Designated Premises’ electricity bill for the succeeding billing period, as this will be credited to their account. For this billing offset arrangement, the Average System Marginal Price (SMP) will be the basis for the energy’s unit price. A Premise being operated by a solely-owned subsidiary company can be classified as a NOVA consumer’s Designated Premise.