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...
At least eight companies are eyeing to corner the 600-megawatt capacity that is slated for auction by power utility giant Manila Electric Company (Meralco) to beef up its supply portfolio starting August next year. In a pre-bid conference on Thursday (July 4), the Filipino-owned companies which...
The deferred pass-on of generation charges that was ordered by regulators could reflexively inflate electricity rates to be reflected in the bills this month, hence, the customers of Manila Electric Company (Meralco) are being prompted to brace for highly probable hike in rates that they shall be...
The Philippine Electricity Market Corporation (PEMC), which serves as the governance body of the Wholesale Electricity Spot Market (WESM), has elected its new set of board of directors and officers that will help oversee the operations of the country’s power spot market. The reconstituted board...
The Energy Regulatory Commission (ERC) has ordered all distribution utilities (DUs) in the Luzon and Visayas grids to delay charging consumers preliminary generation charges. In a statement, ERC said on Tuesday, June 10, that DUs should wait until the release of the final statement (FS) by the...
The Energy Regulatory Commission (ERC) has directed the suspension of the Wholesale Electricity Spot Market (WESM) for the Luzon Region effective Monday afternoon, May 27, due to insufficient generation capacity in the grid. In a statement, ERC said the decision to suspend WESM operations followed...
The Energy Regulatory Commission (ERC) has primarily issued warning on system operator National Grid Corporation of the Philippines (NGCP) and market operator Independent Electricity Market Operator of the Philippines (IEMOP) that they could be meted with penalties if they will not strictly comply...
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...
While most consumers expected radical spike in electricity rates, power utility giant Manila Electric Company (Meralco) had announced a rather moderate hike of P0.4621 per kilowatt hour (kWh) in its overall pass-on tariff that will be reflected in the bills of consumers this May. For residential...
The electric bills to be dispatched by power utility giant Manila Electric Company (Meralco) and other power utilities will practically be knocking on forbidden doors this May – but consumers will have no choice but to finally face the ‘fear factor’ of soaring expenses for electricity...
As coal prices in the world market cooled, the net income of Semirara Mining and Power Corporation (SMPC) dropped 28% to P6.5 billion within first quarter this 2024 from a relatively robust P9.0 billion earnings in the same three-month period last year. “Global coal indices declined due to weak...
