The operator of the Wholesale Electricity Spot Market (WESM) is asking the Department of Energy (DOE) to review the circular which created the Independent Electricity Market Operator of the Philippines (IEMOP) to resolve its position once and for all. In a statement to the media, IEMOP President...
The Energy Regulatory Commission (ERC) indicated that it prefers just having one entity to manage and oversee the Wholesale Electricity Spot Market (WESM) so the industry as well as the Filipino consumers can save on costs. According to ERC Chairperson Agnes T. Devanadera, the current set-up of...
A definitive regulation is being sought from the Securities and Exchange Commission (SEC) for the proposed "forward market’" to be instituted in the country’s Wholesale Electricity Spot Market (WESM). The Independent Electricity Market Operator of the Philippines (IEMOP), which is the operating...
With higher capacity availability from power plants, the settlement prices at the Wholesale Electricity Spot Market (WESM) had softened to P6.26 per kilowatt hour (kWh) this April versus the previous month’s P6.97 per kWh. According to WESM operating entity Independent Electricity Market Operator...
Manufacturing facilities in the country have been the "first movers" in signing up power supply agreements (PSAs) for 100 percent renewable energy (RE) for their electricity requirements. Initially, 17 contracts have already been registered by the Independent Electricity Market Operator of the...
Electricity demand in Luzon, the country's main economic center, peaked in March and surpassed the pre-pandemic demand levels for the same month, largely due to the start of dry season and the wider re-opening of the economy, the Independent Electricity Market Operator of the Philippines (IEMOP)...
Senator Nancy Binay today (March 3) urged the Department of Energy (DOE) to focus on immediately shoring up the country’s thinning power reserves rather than busying itself on other concerns. “Rather than looking too far ahead, the energy department should look at the problem that’s staring...
Worst cases of "forced outages" and generation de-rating of power plants this summer could surge up to 4,332 megawatts in the Luzon grid if technical glitches in power facilities would recur at the usual historical scale, the Independent Electricity Market Operator of the Philippines (IEMOP)...
WESM system enhancements eyed By MYRNA M. VELASCO The country’s Wholesale Electricity Spot Market (WESM) will be undertaking enhancements on its new market management system (NMMS) so it can accommodate the registration of more participants that will be joining the lowering of threshold of the...
On fears that the Wholesale Electricity Spot Market (WESM) will be operating with financial deficit, its governance body Philippine Electricity Market Corporation (PEMC) is seeking higher market fees to be implemented to trading participants starting this month – even without prior regulatory...
The Philippine Electricity Market Corporation (PEMC), in its capacity as governance body of the Wholesale Electricity Spot Market (WESM), is sorting out ‘refund mechanism’ on congestion charges collected from consumers in the Visayas grid. PEMC will also be taking the lead in enforcing the...
Settlement prices of traded capacities at the Wholesale Electricity Spot Market (WESM) continued to track downtrend because of improved supply margins while demand also skidded due to the re-imposition of stricter lockdown last month, the Independent Electricity Market Operator of the Philippines...
