The Independent Market Operator of the Philippines (IEMOP), operator of the Wholesale Electricity Spot Market (WESM), has asked the Department of Energy (DOE) to review its circular that created the agency.
IEMOP president and CEO Atty. Richard Nethercott asked the DOE to revisit DOE Circular No. DC2018-01-0002 to “reassess the viability of maintaining the two-entity set-up of the WESM operations and governance.”
This statement comes after outgoing Energy Regulatory Commission chairperson Agnes Devanadera said that it would be better to only have one entity that would manage and oversee the WESM.
Under the current setup, IEMOP serves as the market operator, while the Philippine Electricity Market (PEMC) serves as the governing body.
“IEMOP took over WESM operations pursuant to law and DOE policy (which has the force of law) and will continue to fulfill its mandate—again, pursuant to law and DOE policy,” the WESM operator said in a statement.
IEMOP said that they would abide by what DOE would establish, even if it would amend or supersedes “the very policy effecting the transition of WESM operations to IMEOP.”
“IEMOP has no vested interest in WESM operations. We have a mandate. And we are faithfully performing that mandate… We are not unmindful, however, of unfounded criticisms that have effectively demoralized our personnel,” Nethercott said.
Under Republic Act 9136 or the Electric Power Industry Reform Act (EPIRA) mandates that the WESM must be operated by an entity that’s independent of the government and industry players.