Friday, February 1, 2019

DOE Seeks Revamp of Electricity Market Rules to Enhance Competition

Wazzup Pilipinas!

The Department of Energy – Electric Power Industry Management Bureau (DOE-EPIMB) conducted a public consultation on the proposed amendments of the Wholesale Electricity Spot Market (WESM) Rules at Parklane Hotel, Cebu, on 24 January 2019. The event was attended by representatives from local distribution utilities (DUs), power generating facilities, local government units, the academe, and members of the media.

The proposed amendments submitted by the Philippine Electricity Market Corporation (PEMC) to the DOE in September 2018 aims to strengthen current rules on market surveillance, enforcement, compliance and penalties.

Energy Secretary Alfonso G. Cusi said, “We need to empower our consumers on their right to be informed on how and where their electricity is being sourced. Their ‘firsthand involvement’ will benefit the entire energy sector as we hear their inputs on the significant improvements of market operation services and competitive pricing.”

The recommended changes seek to strengthen the roles and functions of those involved in enforcement and compliance processes; harmonize said processes with the enhanced WESM design; switch from an hourly to a five-minute trading interval; establish procedures and obligations on the issuance of notices for market rules breaches; determine appropriate violation penatlies; penalty remedies; and the utilization of penalty proceeds, among others. The revision of Market Manuals which serves as guidelines for electricity trading were also presented during the event.

“Greater transparency on electricity market processes results to a faster determination on what is best for our consumers,” Sec. Cusi added.

The DOE is on its 3rd leg of public consultations for the amendment of the WESM Rules, with previous public consultations held on 15 January 2019 for Mindanao and 17 January 2018 for Luzon.

About "" is the fastest growing and most awarded blog and social media community that has transcended beyond online media. It has successfully collaborated with all forms of media namely print, radio and television making it the most diverse multimedia organization. The numerous collaborations with hundreds of brands and organizations as online media partner and brand ambassador makes a truly successful advocate of everything about the Philippines, and even more since its support extends further to even international organizations including startups and SMEs that have made our country their second home.

Post a Comment

Note: Only a member of this blog may post a comment.

Top ib essay writing service by with 200 experts. - term paper writing service every student can afford
Copyright © 2013 Wazzup Pilipinas News and Events
Design by FBTemplates | BTT