The Department of Energy (DOE) will be requiring the generation companies (GenCos) additional reports, providing the monthly power plants’ operational data, sales, power supply, and fuel consumption, which looks to help the government improve its monitoring, planning including policy development for the restructured electricity sector.
In a draft circular released by the DOE, it said that all the gathered information “shall be used solely used for monitoring, planning and policy development and shall not in any way be used as evidence in court and other administrative proceedings.”
GenCos will also be required to submit short-run marginal cost (SRMC), net revenue, and cost of new and generation profile documents.
The proposed DOE Circular also specified the frequency of submission of the reports, stating that plant operations data, generation sales, power supply and fuel consumption reports decreed to be turned in “by [the] last day of the month following the billing month.”
Meanwhile, the submission of SRMC and net revenue shall be finished on or before the 31st day of January.
Documents like the cost of new entry (CONE) and generation profile (GEN-PROFILE) would be a one-time submission; and will be updated as DOE requires.
Upon issuance of the final circular, it was similarly prescribed that the Energy Regulatory Commission (ERC) will “promulgate the supporting guidelines to implement the obligations set for in this circular.”
The DOE also emphasized that the guidelines to be issued by the regulatory body “shall provide for incentives and penalties that may be imposed to the electric power industry participants for non-compliance to reportorial requirements.”
The draft circular further states that all documents that will be submitted by gencos, embedded generators, and independent power producer administrators (IPPAs) “shall be treated with utmost confidentiality.”