The Department of Energy (DOE) announced that the power reserve spot market looks to commence commercial operations on December 26 this year.
In a report by Business World, the Energy Regulatory Commission (ERC) said that the application for adjustments to the pricing estimation procedure has already received preliminary clearance.
Additionally, as stated in the draft circular released on September 16, the market operator will put the reserve market into full commercial operation, ensuring that the co-optimized energy and reserve schedules, along with the prices associated with them, produced by the market dispatch optimization model are legally binding.
The request for adjustments was jointly submitted by the Philippine Electricity Market Corporation and the Independent Electricity Market Operator of the Philippines (IEMOP) to implement the reserve market within the Wholesale Electricity Spot Market (WESM).
Under the circular, the IEMOP has also been instructed to begin its restricted live dispatch activities from September 26 to December 25. Additionally, the IEMOP will carry out live parallel operations, including comprehensive testing involving the market operator, system operator, and registered ancillary service (AS) providers, using a non-production system.
IEMOP is operator of the WESM. The market is the one expediting the trading of AS or power reserves to support the transmission system.
Per the DOE, all generation businesses that have received an AS provider certification from the system operator must finish registration on the reserve market by September 26.
