The Philippine Electricity Market Corporation (PEMC), which governs the Wholesale Electricity Spot Market (WESM), will have its new President, as Atty. Oscar Ala retired from the post.
Based on a Manila Bulletin report, industry sources hinted that Ala declined his nomination to become part of the PEM Board, which means he is no longer up for re-election as president.
As of Friday, talks were circulating that Ala’s likely replacement is Energy Asec. Leonido Pulido III, who is reportedly being vouched for by his boss, Energy Sec. Alfonso Cusi.
So far, the independent nominees in the PEM board are economic analyst Peter Wallace of the Wallace Business Forum and businessman Jesus Arranza of the Federation of Philippine Industries.
Other PEM Board nominees are representatives from various segments of the power industry, including those in the power generation, transmission, distribution, and supply sub-sectors.
There reportedly also had been a request for postponement of the election of the new PEMC President, so it will likely be rescheduled next month.
PEMC particularly holds oversight function when it comes to changes in market rules and in monitoring the compliance of and surveillance on the behavior of market participants in the WESM.