The Energy Regulatory Commission (ERC) has finally lifted the suspension it earlier imposed on the settlement of traded capacities in the co-optimized reserve market, hence, consumers will have to brace for added cost burden in their forthcoming electric bills. With the lifting of the settlement...
By MYRNA VELASCO The grinding task of ensuring ‘fair and transparent’ trading outcomes in the electricity reserve market has been tossed as a responsibility of the Philippine Electricity Market Corporation (PEMC), which is also the governance body of the Wholesale Electricity Spot...
The Energy Regulatory Commission has partially lifted the enforced suspension on cost settlements at the reserve market, hence, allowing the generation companies (GenCos) to recoup P1.723 billion worth of deferred cost recoveries which accrued when they supplied the ancillary services requirements...
There is a major silver lining after all to the scorching blow of the summer months, as the electricity rates of utility giant Manila Electric Company (Meralco) will be reduced significantly by P0.9879 per kilowatt hour (kWh) in its April billing cycle. As announced by the power firm, its overall...
The script for market dynamics will be flipped this April because instead of a rate hike, power utility giant Manila Electric Company (Meralco) is hinting at a rate reduction in the electric bills of its roughly 8.0 million customers within this billing cycle. Meralco Vice President and Head of...
As surging costs of ancillary services or power reserves had been pointed to as culprit in electricity rate hikes, the Energy Regulatory Commission (ERC) has directed ‘settlement and billing suspension’ for the reserve market for the March billing period. The stoppage of reserve market...
The commercial operations of the ancillary services (AS) market will guarantee the full procurement of power reserves needed by system operator National Grid Corporation of the Philippines (NGCP) in efficiently running the country’s electricity system. After more than a decade of planning, policy...
The higher availability and dispatch of generated capacities from power plants have been softening prices in the Wholesale Electricity Spot Market (WESM) – and if the trend will be sustained, that could redound as reduction in the January electric bills of consumers. According to the Independent...
