The Energy Regulatory Commission (ERC) granted preliminary approval to the application of Philippine Electricity Market Corp. (PEMC) and the Independent
Electricity Market Operator of the Philippines Inc. for amendment to the price determination methodology at the electricity market.
“The granting of IR [interim relief] on the proposed amendments to the WESM Manual on the PDM paves the way for the full implementation of a co-optimized energy and reserves market in the WESM on 26 September 2023. This is consistent with the Department of Energy’s [DOE] pronouncement on the target commercial operation of the reserve market [RM],” the ERC said.
“The granting of IR [interim relief] on the proposed amendments to the WESM Manual on the PDM paves the way for the full implementation of a co-optimized energy and reserves market in the WESM on 26 September 2023. This is consistent with the Department of Energy’s pronouncement on the target commercial operation of the Reserve Market,” the ERC said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meralco plans to spend P50b to roll out smart grid, automate distribution until 2026By Alena Mae S. Flores Power retailer Manila Electric Co. asked the Energy Regulatory Commission to approve a capital expenditure
Read more »
DOE prepares road map for energy storage systemsThe Department of Energy plans to come out with a roadmap for energy storage systems (ESS), including pumped storage hydro
Read more »
GMR Group mulls investing in PH’s airports, roads, energy projectsINDIA’S GMR Group has expressed interest in investing in the Philippines particularly in airports, roads and energy projects, as the Marcos administration embarks on an ambitious...
Read more »
‘Aboitiz exploring options to meet rising power demand’Stakeholders in the power industry should consider all forms of energy sources to meet the country’s energy requirements, Aboitiz Power Corp. said on Wednesday. “Meeting today’s energy needs is imperative. It fuels our nation’s growth, sustains our industries, and powers our homes,” said company president Emmanuel Rubio during Meralco Power…
Read more »
Cooperative Development Authority seeks ₱160-M budget hike to perform quasi-judicial mandateThe Cooperative Development Authority (CDA) seeks a budget increase of P160 million to fulfill its regulatory, developmental, and quasi-judicial functions effectively. While the proposed budget from the Department of Budget and Management primarily focuses on regulatory aspects, CDA emphasizes the need for funding in its quasi-judicial role and developmental programs…
Read more »
Hundreds of struggling rice retailers get aid in 2 Zamboanga provincesA Cagayan de Oro councilor calls for an 'enhanced' executive order to include more rice industry players in the aid program, and give the NFA regulatory powers
Read more »