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Manila Bulletin devider Business devider PH power firms ramping up baseload, peaking capacities hedge via Singapore trading platform

PH power firms ramping up baseload, peaking capacities hedge via Singapore trading platform

Published Oct 13, 2023 06:06 am

At A Glance

  • Hedging will help GenCos manage their price pass-on to consumers because that will tame their exposure to spot market volatilities.

Generation companies (GenCos) in the Philippines have been ramping up hedging mechanism on their power capacity contracting via the trading platform hosted by US firm Green Tiger Markets (GTM) in Singapore.

In a statement to the media, GTM indicated “we expect significant volume to get hedged over the next few weeks so that firms can be confident of their cash flows for next year.”

The company emphasized that since the start of onboarding process for clients, it was already able to sign up new market participants every week “with a good mix of both producers and consumers.”

GTM qualified that its generation company-clients in the Philippines so far registered nameplate capacity of approximately 6,000 megawatts; and consumption of roughly 3,000 megawatts.

Onward, the US firm noted that it is anticipating “doubling these numbers in the very near term,” as more clients have been gaining confidence to be part of the GTM marketplace.

“Given the recent bounce in real-time prices, we have seen consumers come out to try to lock in balance of the year prices,” it said, adding that “the weakness in pricing observed in September has disappeared, and a tighter market is forecasted for the rest of the year.”

At this point, GTM specified that it already settled the first contract via its platform, and that payment was made on September 25 this year.

“The settled contract was part of a five-month strip of around-the-clock (RTC) executed in July,” the company expounded.

GTM highlighted that “over the last month, our clients have been keenly focused on locking in their exposures to 24 around-the-clock prices.”

Moving ahead, the American firm had conveyed that “we have several hundred megawatts lined up on both the buy and sell side.”

The company similarly stated it is further working on clients that have been intending to manage their risks on exposure for their peaking capacity needs versus the baseload or round-the-clock capacities.

By far, the company pointed out that based on pricing trends it had been fleshing out from the outcome of market trading, “evening prices have been dislocating versus morning and midday prices.


 

 

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