The Philippine Electricity Market Corporation (PEMC) will be conducting a study that will establish an energy transition road map that aims to introduce mechanisms and enhancements that would promote the participation of renewable and sustainable technologies.
“Institutionalizing effective strategies is imperative for us to fully harness the benefits of these [renewable energy] (RE) resources, which include energy prices and supply stability to power up the Philippine economy in the new normal,” PEMC President Leonido Pulido III said during the Philippine Solar PV Energy Virtual Summit last week.
The partnership agreement is with the United Nations Office for Projects Services (UNOPS) through the Southeast Asian Energy Transition Partnership (ETP).
Pulido said that efforts under the ETP will include the study of the participation of battery and other energy storage systems in the electricity market. This would be a follow-through study conducted back in 2018.
“This study will bring in international experience in the country’s energy landscape by enabling energy storage systems to contribute to ensuring grid security and reliability despite the influx of cleaner energy technologies that are intermittent or variable,” he added.
With the partnership, PEMC hopes to continue to contribute to the efforts in securing the goal of obtaining a clean energy future.
“Supply diversification is imperative to address power supply insecurity in the Philippines,” Pulido emphasized, adding that the country remains dependent on conventional generators for the majority of its energy supply.
“We have to look into other sources to augment our supply… through the increased penetration of RE resources,” he added.
PEMC is the governing body of the Wholesale Electricity Spot Market.
Last year, the Asian Development Bank partnered with the Philippine and Indonesian governments for the pilot run of the energy transition mechanism (ETM) in the region. The ETM aims to phase out coal from the country’s power generation mix.
Power Philippines is the media partner of the Philippine Solar PV Energy Virtual Summit.