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 MEMBERSHIP IN THE WHOLESALE ELECTRICITY SPOT MARKET – Unilever Philippines, Inc. (ULPI01R and ULPI02R)

The Independent Electricity Market Operator of the Philippines (IEMOP), as the market operator of the Philippine Wholesale Electricity Spot Market (WESM), gives notice that the two (2) facilities of Unilever Philippines, Inc . with designated short names ULPI01R and ULPI02R 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 two (2) facilities of Unilever Philippines, Inc.’s WESM membership to be effective on 10 April 2024. This notice is being issued pursuant to WESM Rules clause 2.6.3. 13 March 2024, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES

NOTICE OF CESSATION OF REGISTRATION IN THE WHOLESALE ELECTRICITY SPOT MARKET – EMS Land Services Inc. (EMSLS2R)

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 EMS Land Services Inc., with designated short name EMSLS2R, 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 EMS Land Services Inc.’s WESM membership to be effective on 12 May 2024. This notice is being issued pursuant to WESM Rules clause 2.6.3. 17 April 2024, Pasig City, Philippines. INDEPENDENT ELECTRICITY MARKET OPERATOR OF THE PHILIPPINES INC.

news and events

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.

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.

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

25 January 2024

IEMOP COMMENCES THE FULL COMMERCIAL OPERATIONS OF RESERVE MARKET

https://www.iemop.ph/wp-content/uploads/2024/01/RM-Full-Commercial-Operationswebsite.mp4 Following the green light given by Department of Energy (DOE) and the Energy Regulatory Commission (ERC) through the issuance of DOE Advisory 2024-01-001-SEC and the ERC’s interim approval of the Price Determination Methodology for the Co-optimized Energy and Reserve Market (Order, ERC Case No. 2023-002 RC), IEMOP announces the commencement of the Full Commercial Operations of the Reserve Market at dispatch interval 0005H on 26 January 2024. The Full Commercial Operations shall allow the participation of ALL certified A/S Providers in the scheduling and dispatch process in the WESM for the provision of regulation, contingency, or dispatchable ancillary services. Additionally, the reserve schedules and prices determined through the WESM shall be binding for scheduling and dispatch, while resulting spot transactions shall be settled through the market. The key benefits of the Reserve Market include: Co-optimization: This refers to the simultaneous optimization of capacities in providing multiple electricity services to get the best energy mix at the most affordable price while maximizing resource use. Dynamic Reserve Requirement: This refers to a flexible approach to determining the amount of reserve capacity required at any given time, based on real-time conditions, rather than a fixed or static amount. By not keeping a higher-than-necessary fixed reserve, costs can be efficiently determined, which may benefit end-users in terms of electricity prices. This would also allow the grid to adapt to changes quickly. By adjusting reserves based on real-time conditions, there is a reduced risk of blackouts or other power disruptions. Single Buyer Model: Central procurement by the System Operator simplifies operations and streamlines coordination. Having a single buyer also optimizes the procurement of reserves, ensuring the most effective mix of reserve products based on the system’s needs. It also ensures more consistent procurement practices. Settlement Net of Contracted Reserves: When settling accounts, the pre-agreed contracted reserves are considered and settled at a contracted price. Any difference between the scheduled and contracted reserve is settled at the reserve market price. This ensures that electricity market participants have a clear and efficient method of reconciling and settling their financial obligations related to reserve capacities. The Full Commercial Operations of the Reserve Market heralds a new era of competitive power supply procurement with the end goal of ensuring sufficient and reliable power supply for our country.

26 March 2024

MVIP IMPROVES SUPPLY SECURITY AMIDST SYSTEM DEMAND SURGES IN MARCH

In its latest monthly briefing, the Independent Electricity Market Operator of the Philippines (IEMOP) reported the latest market data as of 24 March 2024 which indicated a stable supply averaging around 18,900 megawatts (MW). However, the period saw a notable surge in average demand, escalating from 12,372 MW in February to 13,185 MW in March. This increase was observed across regions, with Luzon exhibiting a 6.1% increase, followed by Visayas at 6.4%, and Mindanao at 8.4%. The higher demand levels eventually resulted in a lower supply margin, dropping by 19% from 4,757 MW last February to 3,860 MW as of March 24. This drop occurred despite an average supply increase of 138 MW. IEMOP likewise reported planned and forced outages from several power plants during the first week of March. The combined planned outages, mainly from large conventional generators such as coal, natural gas, geothermal, and hydroelectric plants totaled 2,724 MW. Additionally, there were capacities that went on forced outages amounting to a total of 1,062 MW largely from coal and natural gas plants during the same period. Consequently, the average price of electricity experienced a marked increase, climbing from 4.03 PhP/kWh to 5.46 PhP/kWh as of preliminary data in March 2024. Regionally, the average spot price surged in Luzon from 3.97 PhP/kWh in February 2024 to 5.26 PhP/kWh in March 2024, whereas Visayas and Mindanao witnessed price hikes of 4.58 PhP/kWh to 6.26 PhP/kWh and 3.71 PhP/kWh to 4.20 PhP/kWh, respectively. Withal, the Mindanao-Visayas Interconnection Project (MVIP) has significantly improved supply security in the Visayas and Luzon grids by allowing excess power of up to 450 MW to be exported from the Mindanao grid. On average, The MVIP allowed an average of 341 MW to be exported to Visayas, whereas the Leyte-Luzon HVDC link connecting Visayas to Luzon provided an average of additional 296 MW to support meeting the demand in the Luzon grid.

02 January 2024

IEMOP PILOTS RESERVE MARKET INTEGRATION INTO THE WESM

Manila, Philippines: After the successful integration of the Mindanao grid into the Philippine Wholesale Electricity Spot Market (WESM) last 26 January 2023, the Independent Electricity Market Operator of the Philippines (IEMOP) once again embarks on another milestone with the Pilot Stage Launch of Reserve Market last 26 December 2023. The Pilot Stage of the Reserve Market is pursuant to the Department of Energy’s Advisory dated 22 December 2023 which aims to ensure the continuity of final preparations for the full commercial operations of the Reserve Market by directing the Market Operator (MO), the System Operator (SO) and Trading Participants to observe the Operating Procedures for the Central Scheduling and Dispatch of Contracted Ancillary Services. “The pursuit of a co-optimized electricity market has been a challenge since the beginning of the WESM. [But] Various institutions, together with IEMOP and other stakeholders, have worked together to finally see the dawn of a co-optimized WESM. This indeed is an important achievement.” IEMOP President and CEO Atty Richard Nethercott said. As directed in the DOE Advisory, this Pilot Stage of the Reserve Market will allow for the following – Optimization of MO and SO interfaces; Central Scheduling and Dispatch of Contracted AS using Enhanced Systems of the MO and SO; and Automated Real-time Dispatch of Committed AS Prior to having the Reserve Market, the SO secures reserve requirements solely through contracts with ancillary service providers which are submitted, for approval, to the Energy Regulatory Commission (ERC). Upon declaration of the full commercial operations of the Reserve Market, where transactions will become financially binding for settlement through the market, the SO shall then be able to procure reserves from the spot market to meet the reserve requirements of the system. Modern grids’ increasing complexity and expanding functionalities require a system capable of promptly addressing grid imbalances. The Reserves, specifically the “Frequency Control Ancillary Services”, are the main products that shall be traded in the Reserve Market. These services provide a safety net to ensure the reliable and stable supply of electricity to meet unexpected changes in the demand and supply of electricity, by balancing power generation and consumption dynamically (Regulation Reserves), acting promptly during sudden generator outages to ensure consistent grid functionality (Contingency Reserves), and stepping in as the subsequent line of action during grid challenges (Dispatchable Reserves). Like the energy market, the Reserve Market provides a venue for generators to offer reserve capacities competitively. These reserve offers are co-optimized with energy offers to determine the best mix of energy and reserve supply that will result in the most competitive prices for electricity. The co-optimized scheduling of generators to provide energy and reserve, coupled with the dynamic determination of reserve requirements, will result in an optimal mix of contracted and spot reserve capacities that promises stakeholders and end-users a more reliable supply of electricity. The Reserve Market is expected to benefit the nation by ensuring sufficient and reliable power supply. It likewise provides a venue for investors to venture into new generating capacities for both energy and reserves. Ultimately, the co-optimization of the scheduling of reserves and energy has the objective of reducing the overall cost of both energy and reserves. “The operation of the Reserve Market in the Philippine WESM is a testament to our shared commitment to the growth of the Philippine Energy Sector; a growth that ensures reliability, embraces innovation, and promotes competition, all leading to transparency and reasonableness of our power rates.“ ERC Chairperson Atty Monalisa Dimalanta emphasized in her message during the Virtual Ceremonial Launch of the Reserve Market Pilot Stage which is also graced by esteemed representatives from the Department of Energy (DOE), National Grid Corporation of the Philippines (NGCP), Philippine Electricity Market Corporation (PEMC) and various ancillary service providers whose continuous support is instrumental to this important achievement.

23 February 2024

PHILIPPINE ELECTRIC POWER INDUSTRY FORUM 2024

In coordination with the Department of Energy (DOE) and the Energy Regulatory Commission (ERC) and in partnership with MORE Electric and Power Corporation, it is again, with great pride and honor for the Independent Electricity Market Operator of the Philippines Inc. (IEMOP) to present this year’s Philippine Electric Power Industry Forum (PEPIF) to be held on 5 April 2024, at the Iloilo Convention Center (ICON) with the theme, “Powering a Sustainable and Secure Energy Future for the Country”. Now on its second installment, PEPIF aims to bring together key stakeholders in the Philippine electric power industry to discuss pressing issues and concerns and to promote synergy amongst stakeholders. This year’s PEPIF will focus on advancing the transition toward sustainable energy while ensuring energy security. Please stay tuned to IEMOP’s website and social media accounts for more announcements on program details and registration. (Image Source: Ilonggo Speaks Official Facebook page)

15 December 2023

LOWER WESM PRICES FOR NOVEMBER AND DECEMBER

In a recent IEMOP briefing on the Philippine Wholesale Electricity Spot Market (WESM), the market has experienced a reduction in electricity demand coupled with improvements in supply levels translating to lower electricity prices in the spot market. Key highlights from the market operations as of December 10 reveal insights into pricing, generation sources, and upcoming initiatives. Despite an 84MW increase in demand from the previous billing month, the WESM average price as of December 10 decreased by 0.22 PhP/kWh. The Luzon region saw a decrease of 0.11 PhP/kWh, Visayas by 0.52 PhP/kWh, and Mindanao by 0.5 PhP/kWh. Lower clearing prices during this period can be attributed to the combination of lower offer prices from generator participants, potentially influenced by the decline in global fuel prices. Additionally, supply improved as generating plants completed their annual maintenance program together with notable higher supply availability from wind power plants which is mainly prompted by the Amihan season, contributed significantly to this scenario. In the November billing month, wind output witnessed a substantial increase of 102 GWh, marking a 1.4 times surge compared to the previous month. The system supply in Luzon, Visayas, and Mindanao continues to be dominated by coal and natural gas, accounting for 76% of the total generation. Geothermal and hydro contributed 8.9% and 8.3%, while solar and biomass plants witnessed considerable increases in their energy shares, reaching 221 GWh and 95 GWh, respectively.. Improved supply levels also reduced the dispatch of diesel plants and this contributed also to the lowering of market prices especially during peak demand periods. Customers purchased 18.2% of the total metered consumption of 8,949 GWh in November 2023 from the spot market at an ESSP rate of 4.39 PhP/kWh. Up from the 16.9% last October billing month. The ESSP also represents a decline from the October rate of 6.94 PhP/kWh. Presently, the Independent Electricity Market Operator of the Philippines (IEMOP) is gearing up for the commercial operations launch of the Reserve Market this December 26, 2023.

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