THE PHILIPPINE Electricity Market Corp. (PEMC) said Thursday that two systems developed in-house are being used to monitor the wholesale electricity spot market (WESM).
The Compliance Post-Evaluation Monitoring System offers a platform for WESM compliance officers to explain potential breaches by providing supporting documents. It also allows market participants to receive reports on the PEMC’s findings.
Meanwhile, the New Market Assessment System serves as the PEMC Market Assessment Group’s data collection and market monitoring platform.
“These governance systems, largely developed in-house by the PEMC personnel who have had years of experience in monitoring the market, have undergone and passed third-party audits,” PEMC said in a statement Thursday.
The PEMC, which oversees the WESM, used to operate the spot market before transferring the responsibility to the Independent Electricity Market Operator of the Philippines (IEMOP) in 2018 on the recommendation of the Energy department and stakeholders.
On June 26, IEMOP rolled out the enhanced WESM design and operations (EWDO) in Luzon and the Visayas. One key feature of the EWDO includes reducing the time between the scheduling and dispatch of power.
Senator Emmanuel D. Pacquiao has alleged that the IEMOP is enriching itself at the expense of power consumers, citing complaints received by his office.
In reply, IEMOP rejected the allegation, saying that it is a non-profit and non-stock entity that recovers WESM operating costs through market fees which are cleared by the Energy Regulatory Commission. — Angelica Y. Yang