Panay Energy Development Corporation (PEDC), a subsidiary of Global Business Power Corporation (GBP), was bestowed highest compliance rating among coal-fired power plants in the country, on its adherence to the rules being enforced by the Wholesale Electricity Spot Market.
The company, in a statement to the media, has indicated that its 314-megawatt PEDC asset garnered a compliance rating of 98.72-percent, and “was hailed as the best among its peers for exemplary compliance to WESM rules and manuals.” That was reckoned over a one-year period from June 2019 to June 2020.
The other subsidiary of GBP, Cebu Energy Development Corporation (CEDC), similarly scored high in the roll of the WESM-compliant generators, with a rating of 93.92-percent.
According to the company, the CEDC plant which has an installed capacity of 246MW, placed sixth in the overall ranking under coal-fired category.
As explained, the WESM rules require power generators to comply with the must-offer rule (MOR) and real-time dispatch (RTD) deviation as enforced in the spot market’s operations.
“Generators with the highest complying marks must also maintain a certain percentage of plant availability and the least number of market rule breaches,” the company said.
On the awards for highest compliance rating, GBP emphasized that the guiding principles tread on recognizing the most compliant power generators when it comes to their obligations in the market – primarily in ensuring that their capacity is available to the market once called for dispatch.
Following the recognition bequeathed on the company’s subsidiaries, GBP President Jaime T. Azurin asserted “we will strive to continuously attain high level of compliance in the WESM.”
In representing their power companies at the virtual Summit Awards carried out by WESM Compliance Officers, GBP Head of Commercial and Sales Philip D. Dasalla noted “we give high importance to this award, as compliance helps optimize efficiency gains through effective resource management with respect to price signals.
GBP is a leading power provider in the Visayas grid, with it having a gross capacity of 1,091 megawatts under its portfolio. It also has presence in Mindanao and Mindoro islands.
The company is among the power generators offering flexible energy solutions – be it for base, intermediate, peak load or ancillary services needs of the country’s power system.