The country’s Wholesale Electricity Spot Market (WESM) now operates on a full-scale automated enterprise system to refine the energy sector through economic privatization and market competition.
In support of the national government’s efforts under EO 30, the Philippine Electricity Market Corp. (PEMC), WESM’s parent operator, recently launched the Central Registration and Settlement System (CRSS) to industry participants.
From here on, the CRSS ables to improve the market process including registration, metering, billing, and settlement.
In a statement on Thursday, PEMC said that the new system was designed and developed considering the improved WESM rules are now based on a five-minute dispatch interval—a shift from the previous one hour estimate.
“Enhancing the operations of the country’s platform for electricity trading is a substantial undertaking,” PEMC President Melinda Ocampo said of the agency’s leverage to better its platforms towards efficiency as well as to benefit power consumers.
The CRSS is linked to the New Market Management System to collect data and schedules for settlement processes. Test runs of the new platform are ongoing in Mindanao’s WESM in collaboration with java development company Exist Software Labs Inc., PEMC’s technology partner.
According to PEMC, CRSS makes the switch to real-time supplier process possible for contestable customers as the competitive retail market moves on to critical transition, facilitating data exchange between the market operator and its trading participants.