Notices

The Independent Electricity Market Operator of the Philippines Inc. (IEMOP), in its capacity as the Market Operator of the Philippine Wholesale Electricity Spot Market (WESM) and Central Registration Body of the Retail Market, gives notice of the revocation of suspension of Steel Corporation of the Philippines (STEELCORP) effective 26 September 2022 on account of the reconnection of its facility to the national grid. This notice is being published in accordance with the provisions of Section 4.5 of the WESM Manual on Registration, Suspension and De-Registration Criteria and Procedures. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES INC.

NOTICE OF CESSATION OF MEMBERSHIP IN THE WHOLESALE ELECTRICITY SPOT MARKET – Filipino Metals Corporation (FMETL1R)

The Independent Electricity Market Operator of the Philippines (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that Filipino Metals Corporation, with designated short name FMETL1R, notified IEMOP through its supplier that it shall cease its membership in the WESM as Indirect Member – Contestable Customer. IEMOP has confirmed the cessation of Filipino Metals Corporation’s WESM membership to be effective on 05 April 2023. This notice is being issued pursuant to WESM Rules clause 2.6.3. 17 March 2023, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES

NOTICE OF CESSATION OF THE REGISTRATION IN THE CENTRAL REGISTRATION BODY (CRB) – Shogun Management & Development Corporation (SMDCG5R)

The Independent Electricity Market Operator of the Philippines (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that Shogun Management & Development Corporation, with designated short name SMDCG5R, notified IEMOP through its RE Supplier that it shall cease its registration in the Central Registration Body (CRB) as End-User. IEMOP has confirmed the cessation of Shogun Management & Development Corporation in the Central Registration Body (CRB) to be effective on 05 April 2023. This notice is being issued pursuant to WESM Rules clause 2.6.3. 20 March 2023, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES

NOTICE OF CESSATION OF MEMBERSHIP IN THE WHOLESALE ELECTRICITY SPOT MARKET – Feliz Premium Mfg. Inc. (FPMI01R)

The Independent Electricity Market Operator of the Philippines (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that Feliz Premium Mfg. Inc., with designated short name FPMI01R, notified IEMOP through its supplier that it shall cease its membership in the WESM as Indirect Member – Contestable Customer. IEMOP has confirmed the cessation of Feliz Premium Mfg. Inc ‘s WESM membership to be effective on 24 May 2023. This notice is being issued pursuant to WESM Rules clause 2.6.3. 09 May 2023, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES

NOTICE OF CESSATION OF MEMBERSHIP IN THE WHOLESALE ELECTRICITY SPOT MARKET – San Miguel Yamamura Asia Corporation (SMYA01R)

The Independent Electricity Market Operator of the Philippines (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that San Miguel Yamamura Asia Corporation, with designated short name SMYA01R, notified IEMOP through its supplier that it shall cease its membership in the WESM as Indirect Member – Contestable Customer. IEMOP has confirmed the cessation of San Miguel Yamamura Asia Corporation’s WESM membership to be effective on 08 June 2023. This notice is being issued pursuant to WESM Rules clause 2.6.3. 23 May 2023, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES

NOTICE OF CESSATION OF MEMBERSHIP IN THE WHOLESALE ELECTRICITY SPOT MARKET – Mighty Corporation (MYC001R)

The Independent Electricity Market Operator of the Philippines (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that Mighty Corporation, with designated short name MYC001R, notified IEMOP through its supplier that it shall cease its membership in the WESM as Indirect Member – Contestable Customer. IEMOP has confirmed the cessation of Mighty Corporation‘s WESM membership to be effective on 08 October 2023. This notice is being issued pursuant to WESM Rules clause 2.6.3. 19 September 2023, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES

Summary of Unpaid Energy Settlement Amounts

As of September 25, 2023 Market Participant Short Name Region Amount Remarks ABRA ELECTRIC COOPERATIVE, INC. (ABRECO) ABRECO Luzon (285,883,832.01) Default ABSOLUT DISTILLERS INC. (ABSOLUTDI_FIT) ABSOLUTDI_FIT Luzon (1.90) Default AC ENERGY AND INFRASTRUCTURE CORPORATION (FORMERLY AC ENERGY, INC.) (ACERES) ACERES Luzon (58,000.18) Default ASIAN GREENENERGY CORP. (AGECO_FIT) AGECO_FIT Mindanao (30.35) Default ALBAY ELECTRIC COOPERATIVE, INC. (ALECO) ALECO Luzon (389,415,303.44) Default AMLAN HYDROELECTRIC POWER CORPORATION (AMLANHPC) AMLANHPC Visayas (5,735.55) Default AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC. (ANECO) ANECO Mindanao (74.23) Default ASIA PACIFIC ENERGY CORPORATION (APEC) APEC Luzon (18,560.88) To be cleared on September 26, 2023 BEHMC Lower Labayat Hydropower Corp. BEHMCLLHC Luzon (2,753,248.46) Default BOHOL LIGHT COMPANY, INC. (BLCI) BLCI Visayas (31,198,023.86) To be cleared on September 26, 2023 BOHOL II ELECTRIC COOPERATIVE, INC. (BOHECO2) BOHECO2 Visayas (1,406,492.73) To be cleared on September 26, 2023 BAYOG WIND POWER CORP. (BWPC) BWPC Luzon (3,065.10) Default CENTRAL AZUCARERA DON PEDRO, INC. (CADPI) CADPI Luzon (2,981,978.00) Default CAMIGUIN ELECTRIC COOPERATIVE, INC. (CAMELCO) CAMELCO Mindanao (1,973,498.68) Default CAMARINES SUR II ELECTRIC COOPERATIVE, INC. (CASURECO2) CASURECO2 Luzon (138,856,443.12) Default CAMARINES SUR III ELECTRIC COOPERATIVE, INC. (CASURECO3) CASURECO3 Luzon (240,391.34) To be cleared on September 26, 2023 CAGAYAN BIOMASS ENERGY CORPORATION (CBEC_FIT) CBEC_FIT Luzon (8.67) Default CLEANGREEN ENERGY CORPORATION (CEC) CEC Luzon (1,240.28) Default CITICORE ENERGY SOLUTIONS, INC. (CESIGES) CESIGES Luzon (28,307.00) Default COSMO SOLAR ENERGY, INC. (CSEI) CSEI Visayas (361,277.30) Default DAVAO ORIENTAL ELECTRIC COOPERATIVE, INC. (DORECO) DORECO Mindanao (18,983,013.25) Default ENERGY DEVELOPMENT CORPORATION (EDCGMIN) EDCGMIN Mindanao (25.96) Default GREEN FUTURE INNOVATIONS, INC. (GFII_FIT) GFII_FIT Luzon (3,443,396.62) Default GREEN INNOVATIONS FOR TOMORROW CORPORATION (GIFT_FIT) GIFT_FIT Luzon (1,013.61) Default GREEN INNOVATIONS FOR TOMORROW CORPORATION (GIFT2_FIT) GIFT2_FIT Luzon (2,216.66) Default GN POWER LTD. CO. (GNPLCRES) GNPLCRES Luzon (12,481,091.00) Default GREENCORE POWER SOLUTIONS 3, INC. (GPS3I) GPS3I Luzon (146,278.00) To be cleared on September 26, 2023 GREEN EARTH ENERSOURCE CORPORATION (GREENEEC_FIT) GREENEEC_FIT Mindanao (61,105.55) Default HAWAIIAN-PHILIPPINE COMPANY (HPCO) HPCO Visayas (12,566.97) Default ISABEL ANCILLARY SERVICES CO. LTD (IASCO) IASCO Visayas (488,978.47) To be cleared on September 26, 2023 ISABELA BIOMASS ENERGY CORPORATION (IBEC_FIT) IBEC_FIT Luzon (37.63) Default ILOCOS NORTE ELECTRIC COOPERATIVE, INC. (INEC) INEC Luzon (30,216,609.50) To be cleared on September 26, 2023 JIN NAVITAS ELECTRIC CORPORATION JNECRES Luzon (87,464.29) Default LINDE PHILIPPINES INC. (LINDE) LINDE Luzon (811,326.14) Default MCCI CORPORATION (MCCI) MCCI Mindanao (1,259.70) Default MENZI AGRICULTURAL CORPORATION (MENZI) MENZI Mindanao (44,698.54) Default MINDANAO ENERGY SYSTEMS, INC. (MINERGY) MINERGY Mindanao (10.73) Default MONTE SOLAR ENERGY, INC. (MONTESOL_FIT) MONTESOL_FIT Visayas (83,147.50) Default MAPALAD PARTNERS INC. (MPIDIGOS) MPIDIGOS Mindanao (2,507.45) Default NORTHWIND POWER DEVELOPMENT CORPORATION (NORTHWIND_FIT) NORTHWIND_FIT Luzon (82,272.24) Default NUEVO SOLAR ENERGY CORP. (NSEC) NSEC Luzon (1,412.30) Default NORTHWIND POWER DEVELOPMENT CORPORATION (NWPDC_FIT) NWPDC_FIT Luzon (40,924.43) Default PHILIPPINE ASSOCIATED SMELTING & REFINING CORPORATION (PASAR) PASAR Visayas (11.48) Default PANAY ELECTRIC COMPANY, INC. (PECO) PECO Visayas (22,094,087.85) Default PEOPLE’S ENERGY SERVICES, INC. (PESI) PESI Luzon (99.15) Default POWERSOURCE PHILIPPINES ENERGY INC. (PPEI) PPEI Mindanao (6,622.21) Default SAN CARLOS SOLAR ENERGY INC. (SACASOL_FIT) SACASOL_FIT Visayas (176,751.83) Default SAN CARLOS SOLAR ENERGY INC. (SACASOLCD_FIT) SACASOLCD_FIT Visayas (162,888.72) Default SAN FERNANDO ELECTRIC LIGHT & POWER CO., INC. (SFELAPLRE) SFELAPLRE Luzon (311.76) Default SPECIALTY PULP MANUFACTURING, INC. (SPMI) SPMI Visayas (88.65) Default SUPREME POWER CORPORATION (SUPREMEPC) SUPREMEPC Mindanao 871,849.21) Default SUNWEST WATER AND ELECTRIC COMPANY 2, INC. (SUWECO2_FIT) SUWECO2_FIT Visayas (6,851.29) Default LABAYAT 1 HYDROPOWER CORPORATION UPLAB1 Luzon (2,732,696.81) Default UNIVERSAL ROBINA CORPORATION (URC_FIT) URC_FIT Visayas (3,216,027.37) Default VICTORIAS MILLING COMPANY, INC. (VMC) VMC Visayas (7,162,647.97) Default WATERFRONT MACTAN CASINO AND HOTEL, INC (WAHCRES) WAHCRES Visayas (126,181.54) Default ZAMBOANGA DEL NORTE ELECTRIC COOPERATIVE, INC. (ZANECO) ZANECO Mindanao (209,489.64) To be cleared on September 26, 2023 (970,943,475.10)

NOTICE OF CESSATION OF REGISTRATION IN THE WHOLESALE ELECTRICITY SPOT MARKET – CLEAR PLAS PACKAGING CORP. (CPPC01R)

The Independent Electricity Market Operator of the Philippines Inc. (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that CLEAR PLAS PACKAGING CORP., with designated short name CPPC01R, notified IEMOP through its supplier that it shall cease its registration in the WESM as Indirect Member – Contestable Customer IEMOP has confirmed the cessation of CLEAR PLAS PACKAGING CORP.’s WESM membership to be effective on 08 March 2024. This notice is being issued pursuant to WESM Rules clause 2.6.3. 19 February 2024, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES INC.

NOTICE OF CESSATION OF REGISTRATION IN THE WHOLESALE ELECTRICITY SPOT MARKET – Everjust Realty Development Corporation (EJRD01R)

The Independent Electricity Market Operator of the Philippines Inc. (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that Everjust Realty Development Corporation, with designated short name EJRD01R, notified IEMOP through its supplier that it shall cease its registration in the WESM as Indirect Member – Contestable Customer. IEMOP has confirmed the cessation of Everjust Realty Development Corporation’s WESM membership to be effective on 02 August 2024. This notice is being issued pursuant to WESM Rules clause 2.6.3. 08 July 2024, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES INC.

news and events

11 July 2024

Deloitte Workshop: Variable Renewable Energy Integration and Capacity Market

Manila, Philippines | Deloitte, in coordination with IEMOP, spearheaded the recently concluded workshop entitled “Variable Renewable Energy Integration and Capacity Market” which is an undertaking funded by the U.S. Department of State, Bureau of Energy Resources (ENR), in partnership with Deloitte Touche Tohmatsu Limited held last 11-12 July 2024 here in Metro Manila, Philippines. This workshop aimed to equip the Regulators, Market Operator, System Operator, and other power industry stakeholders with critical insights into capacity market mechanisms and strategies to ensure stable grid operations amidst the increasing integration of renewable energy systems. The two-day workshop also aimed to impart and discuss key lessons on energy transition through wind, solar photovoltaic (PV), and battery energy storage systems (BESS) technologies in other jurisdictions over recent years. Ultimately, the workshop is expected to develop a high-level road map to outline strategic approaches for achieving desired outcomes in VRE integration, capacity market implementation vis-à-vis demand response participation, and ancillary services markets. Sincerest gratitude to Ms. Amy Lau of the U.S. Department of State and the entire Deloitte team, • Mr. Adrian Rouse, their Team lead; • Mr. John Garvey, Regulatory Specialist; • Mr. Bill LaVista, T&D Planning Specialist; and • Mr. Andrew Kimball, the Project Manager. #IEMOP #ElectricityMarket #WeRunMarkets #RenewableEnergy #CapacityMarket #SustainableFuture

01 May 2024

IEMOP TO IMPLEMENT ERC ORDER ON MARKET SUSPENSION AMIDST RED ALERTS

IEMOP shares the industry’s concern on recently recorded all-time high energy demand across all regions, exacerbated by the current heat wave. This present demand situation has put a strain on available generation capacities leading to the issuances of Yellow and Red Alerts by the National Grid Corporation of the Philippines (NGCP). Pursuant to its mandate to operate the Wholesale Electricity Spot Market (WESM) in accordance with policy and regulatory issuances promulgated by the Department of Energy (DOE) and the Energy Regulatory Commission (ERC), IEMOP, in coordination with the NGCP, will implement the recently issued ERC Order dated 30 April 2024 for ERC Case No.2024-017MC, entitled In the Matter of Declaration of Market Suspension During Red Alerts During Summer Months of 2024. IEMOP remains hopeful that the supply levels will improve so the grid may continuously operate under normal conditions. Under the WESM Rules, the ERC may suspend normal operations of the WESM in cases of (a) natural calamities or (b) following the official declaration of a national or international security emergency by the President of the Republic. During the market suspension, the administered pricing based on the ERC approved Price Determination Methodology (PDM) shall be imposed. In this pricing mechanism, the weighted average of the last four (4) similar trading days and dispatch intervals prices shall be considered.

19 June 2024

USEA: Capacity Building Exchange on Electricity Markets

It’s been a productive three-day executive capacity exchange on electricity markets, thanks to the United States Energy Association for conducting this forum in the Philippines, in collaboration with the Independent Electricity Market Operator of the Philippines, Inc. (IEMOP), the Philippine Department of Energy (DOE), the Energy Regulatory Commission (ERC), other attached agencies, and the rest of our energy stakeholder groups. This undertaking is funded by the U.S. Department of State, Bureau of Energy Resources, and Power Sector Program (PSP) in support of the Clean EDGE (Enhancing Development & Growth through Energy) Asia, for USEA to present how U.S. regulators, utilities, companies, and system operators have used competitive energy markets in integrating increasing levels of variable renewable energy (VRE) into the electric power system. Truly, the delegates from various Philippine energy sectors have learned immensely from our esteemed speakers Carrie Simpson, Kerinia Cusick, and Rao Konidena. We sincerely thank Marina N. Barnett and Andrew Palmateer for organizing this program.

19 April 2024

MARKET PRICES AMIDST RED AND YELLOW ALERTS

From 16 to 18 April 2024, the average supply, demand, and prices in the spot market are as follows: Note that these prices are still subject to pricing validations/corrections which will be done towards the end of the current WESM billing month. Effective WESM rates are computed based on the total monthly spot transactions. The system peak demand has reached 18,256 MW on 17 April 2024 at 1450H with a supply of 20,108 MW. While the margin of supply is currently meeting demand, localized power interruptions have been experienced in areas of extremely high demand. IEMOP supports the Department of Energy’s campaign to implement energy conservation measures and optimize energy usage during peak hours in both businesses and households.

28 June 2024

CALL FOR SOFTWARE DEVELOPMENT SERVICES FOR IEMMS-MDOM

The Independent Electricity Market Operator of the Philippines (“IEMOP”) intends to procure Software Development Services for the IEMOP Electricity Market Management System – Market Dispatch Optimization Model (“IEMMS-MDOM”) [“The Project”]. IEMOP now invites Service Providers/Firms to submit their Letter of Intent for the Project, addressed to Atty. Richard J. Nethercott, President and Chief Executive Officer. Please submit the same by e-mail to iemms.project@iemop.ph and or by hand to the IEMOP office at 9/F Robinsons Equitable Tower ADB Avenue, Ortigas Center, Pasig City, Philippines 1600 on or before 15 July 2024—Manila Time. If you have questions, you can contact the Bids and Awards Committee Secretariat at (02) 5318-9376.

05 April 2024

IEMOP PRESENTS VISAYAS LEG OF THE PHILIPPINE ELECTRIC POWER INDUSTRY FORUM

Iloilo City, Philippines In coordination with the Department of Energy (DOE), the Energy Regulatory Commission (ERC), the Philippine Electricity Market Corporation (PEMC), and in partnership with MORE Electric and Power Corporation, the Independent Electricity Market Operator of the Philippines Inc. (IEMOP) is delighted to present this year’s Philippine Electric Power Industry Forum (PEPIF) today, 5 April 2024, at the Iloilo Convention Center (ICON) with the theme, “Powering a Sustainable and Secure Energy Future for the Country”. Now in its second year, PEPIF aims to bring all sectors of the electric power industry together to discuss vital issues and promote synergy in the industry. Recognizing the country’s goal toward sustainable energy, PEPIF 2024 covers the following topics: Philippine Energy Transition Plan – Opportunities and Challenges in the Renewable Sector Regulations and Market Mechanisms to Support RE Development Achieving 100% Rural Electrification through Renewable Energy National Transmission Corporation’s (TransCo) Role in a Sustainable Power System Infrastructure Transmission Development Plan and Integration of Renewable Energy for a Reliable and Secure Grid Achieving RE Mix Targets while Ensuring Reliable Supply for End-Users Country’s Path Towards Achieving a Sustainable and Secure Energy Future

22 May 2024

SUSTAINED HIGH DEMAND AFFECTS MARKET PRICES IN APRIL TILL MID-MAY 2024

During its media briefing, the Independent Electricity Market Operator of the Philippines (IEMOP) discussed the highlights of Wholesale Electricity Spot Market (WESM) operations from the April 2024 billing month up until the preliminary market outcomes as of 19 May 2024. The Luzon region recorded an average demand increase from 9,385 MW in March to 10,310 MW in April 2024. Meanwhile, for Visayas and Mindanao, the average demand increased from 1,867 and 1,955 MW to 2,002 and 2,063 MW, respectively. The increase in demand, primarily driven by the summer heat waves, led to the recorded year-to-date peak levels in all grids. Luzon demand recorded a new peak at 14,011 MW on 24 April 2024, at 1455H, Visayas demand peaked at 2,581 MW on 24 April 2024, at 1430H, and Mindanao also recorded a new peak demand of 2,642 MW on 25 April 2024, at 1400H. Meanwhile, supply levels for Luzon and Visayas were affected by both planned and forced outages. The first half of April saw ample supply levels across all grids. However, towards the second half of April, forced outages of generating plants resulted to yellow alert and red alert conditions, indicating potential reserve supply insufficiency in the grid. It was recorded that 19.68% of the trading intervals for April were imposed with Secondary Price Cap compared to 7.04% in March. Consequently, the final average spot prices notably increased. In Luzon, prices increased from 5.34 PhP/kWh in March to 6.63 PhP/kWh in April. Similarly, Visayas experienced an increase from 6.38 PhP/kWh to 8.73 PhP/kWh, while Mindanao saw prices increase from 4.21 PhP/kWh to 6.43 PhP/kWh. System-wide, the average price in the WESM for April 2024 was 6.90 PhP/kWh compared to 5.19 PhP/kWh in March 2024. Higher-priced power plants were cleared and scheduled to meet the system demand, particularly oil-based power plants, which generated 1.9% of the energy mix in April versus 0.8% in March 2024. The dispatch of these more expensive power plants contributed to the higher electricity prices during the month. Based on the preliminary market data as of 19 May 2024, despite the tamer heat wave condition as sporadic rain falls across the country, yellow alerts continued to be experienced in the Luzon and Visayas grids while normal grid conditions prevailed in Mindanao. The regional spot prices obtained are 7.88 PhP/kWh, 8.43 PhP/kWh, and 6.98 PhP/kWh, respectively, for Luzon, Visayas, and Mindanao. Between the market price in April and May (preliminary), a potential increase of 18.85% can be observed in Luzon, a 3.44% decrease in Visayas, and an 8.55% increase in Mindanao. While the system average price as of 19 May 2024 is estimated at 7.85 PhP/kWh, prices obtained for the May billing period are indicative and subject to pricing validation, which will be done towards the end of the current WESM billing month. IEMOP emphasized the importance of continuing investments in the generation sector to cope with the country’s increasing electricity demand. IEMOP remains committed to providing efficient and reliable electricity market operations to all WESM stakeholders and will continue to closely monitor the supply, demand, and prices in the coming months.

23 February 2024

MARKET PARTICIPANTS UPDATE 2024

SAVE THE DATE To all WESM members, IEMOP is pleased to announce this year’s upcoming Market Participants Update (MPU) to be held on 4 April 2024 at the Courtyard by Marriott in Iloilo City. IEMOP conducts the MPU at least once a year to apprise the WESM members of the latest market operations developments and provide an interactive venue for trading participants to raise their concerns and queries. The MPU will then be followed by this year’s Philippine Electric Power Industry Forum (PEPIF) on 5 April 2024, at the Iloilo Convention Center (ICON) with the theme, “Powering a Sustainable and Secure Energy Future for the Country”. Please stay tuned to IEMOP’s website and social media accounts for more announcements on registration.

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