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The Wholesale Electricity Spot Market (WESM) is set to launch in Mindanao on June 26, according to the Independent Electricity Market Operator of the Philippines (IEMOP), which operates the spot market.
IEMOP said in statement last week that it approved WESM’s implementation in Mindanao, as well as the transition of the five-minute market for scheduling and dispatch intervals for its Luzon and Visayas operations.
To prepare for WESM Mindanao’s implementation, IEMOP is currently registering the island’s power facilities in the spot market, according to IEMOP Operations Planning and Modelling Manager Edward Olmedo.
Around 18 of 87 expected facilities have registered to be part of the WESM Mindanao market so far. Olmedo said that WESM is targeting to complete the registration process within the first quarter. The IEMOP also hopes to complete an audit of enhancements and focus group discussions on overall market readiness by then.
Olmedo added that WESM Mindanao also needs the Department of Energy’s (DOE) go-signal by May, so it can begin operating as scheduled.
Aside from being WESM’s operator, IEMOP also acts as the central registration body for the government’s retail competition and open access scheme.
The DOE announced the launch of WESM Mindanao through a department circular issued back in 2017.
