The Independent Electricity Market Operator of the Philippines (IEMOP) has imposed penalties on two energy firms for failing to meet Wholesale Electricity Spot Market (WESM) standards, as disclosed in SEC Form 17-C filings dated June 18, underscoring its role in enforcing market compliance.

Fresh River Lakes Corp. (FRLC), a subsidiary of First Gen Corporation, was ordered to pay PHP 150,000.00 for alleged non-compliance with energy market standards during the April 26 to May 25, billing period. FRLC, operator of the 165 MW Casecnan Hydroelectric Power Plant in Pantabangan, Nueva Ecija, is seeking reconsideration of the penalty.

Nickel Asia Corporation received a notice on June 17, assessing its diesel power plant a PHP 193,907.25 penalty for non-compliance with dispatch conformance standards. The company confirmed it will settle the fine by June 25.

IEMOP, established in 2018 under the Electric Power Industry Reform Act (EPIRA), oversees WESM operations to ensure a fair and reliable electricity market. Its recent push for a PHP 1.01 billion Market Management System upgrade, pending Energy Regulatory Commission (ERC) approval, aims to enhance compliance monitoring amid the Philippines’ renewable energy expansion, with nearly 7,000 MW of new capacity committed in Q1 2025. No additional penalties for other firms were reported in recent public disclosures, but IEMOP’s enforcement actions signal heightened scrutiny for WESM participants.

Will IEMOP’s penalties drive stricter compliance in the energy sector? Join the discussion and share your insights!

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