The Philippine Stock Exchange (PSE) is seeking for the mandate of the Energy Department for it to operate the country’s electricity spot market.
This is to diversify its portfolio and maximize its platform for other products besides equities, PSE president Ramon Monzon said in a report by the Inquirer.
“Our long-term vision, our dream is that we will operate other exchanges. The PSE will just be one exchange,” Monzon said.
The PSE official said that they have been talking with DOE if they could operate on the electricity exchange.
“Of course, the question they ask is what do we know about electricity? And my answer is, an exchange is really a technology company,” he added.
“But our selling point basically to the DOE is by having a professional organization operate the electricity exchange, we insulate it from political influences. Every time there’s a change in administration, it won’t have new sets of people trying to get there and trying to run it,” Monzon stressed.
It is the Wholesale Electricity Spot Market who sets the basic rules, requirements, and procedures that governs the operation of the Philippine electricity market.