Connect with us

Hi, what are you looking for?


WESM to launch Mindanao spot market by June

THE Independent Electricity Market Operator of the Philippines (IEMOP) said Thursday that it hopes to begin commercial operations in Mindanao by late June, while also launching the enhanced design of the market in the Luzon and Visayas over the same time frame.

Last month the Energy Regulatory Commission approved the WESM’s (Wholesale Electricity Spot Market) Price Determination methodology, in the form of a manual of WESM guidelines, principles and pricing mechanisms.

IEMOP is a non-profit corporation that operates the WESM and the central registration body for the retail competition and open access. WESM is the venue for generators to sell excess power not covered by contracts, and where customers can buy additional output on top of these contracts.

In a statement Thursday, IEMOP said the approval signaled the implementation of WESM in Mindanao, and the upcoming transition of the five-minute market for scheduling and dispatch intervals in Luzon and the Visayas islands.

“The launch date for these developments in WESM is now targeted for June 26, 2021,” IEMOP said in a statement.

IEMOP Operations Planning and Modelling Manager Edward I. Olmedo said in a briefing Thursday the organization is still in the process of registering Mindanao-based facilities in the WESM.

“We need to complete first their registration in the WESM. So that is expected to be part of our target completion in the first quarter of 2021,” Mr. Olmedo told reporters. IEMOP estimates that some 18 facilities out of 87 expected participants have registered for the WESM Mindanao market.

For the WESM to begin commercial operations in Mindanao by June, the Department of Energy must give the go signal by May, he said.

Mr. Olmedo added that by the first quarter, IEMOP hopes to complete an audit of enhancements and focus group discussions on overall market readiness.

During the fourth quarter of 2020, market prices continued to drop, to P1.96 per kilowatt-hour (kWh), according to IEMOP.

“The price drop can be attributed to the declining rate of customer transactions as compared to the same period in 2019. Energy consumption for December 2020 also decreased by 2.0% which is equivalent to 126 GWh (gigawatt hours) in comparison to the consumption recorded in December 2019,” IEMOP said.

It added that the decrease in system demand last month was caused by the holidays and the holiday associated with the Feast of the Immaculate Conception, which took place on Dec. 8. However, the market operator noted that there were several instances of high prices due to a number of forced and planned outages.

According to IEMOP, total output last year declined 5.5% to 79,354 GWh from 83,982 GWh. “Similar with the previous years, coal and natural gas plants accounted for more than three-fourths of the generation mix,” it said. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global plastic pollution treaty, weeks...


By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded its growth forecast for the Philippines for this year and 2023, citing an “accommodative”...


THE PHILIPPINE auto industry’s sales recovery will likely be derailed if a measure reimposing excise taxes on pickup trucks is signed into law, according...


THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected to...


THE ASIAN Development Bank (ADB) is planning to allocate at least $14 billion for a program aimed at easing a food crisis in the...


With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.