IEMOP lauds and appreciates the Philippine Chamber of Commerce and Industry (PCCI) for expressing its support for a well-functioning and accountable electricity market. We share the view that all participants in the Wholesale Electricity Spot Market (WESM) must satisfy all their financial obligations on time.
It is important to clarify however, that any amount unpaid by defaulting WESM customers are not passed on to consumers nor delinquencies subsidized by consumers. These remain as receivables of the generation companies and other sellers in the WESM.
IEMOP has religiously enforced the rules of the WESM, including the timely issuance of default and suspension notices, and imposition of financial penalties. These actions are guided by the WESM Rules and relevant Market Manuals, which empower IEMOP to impose appropriate sanctions, including suspension and deregistration, as warranted. These measures protect the interests of compliant participants and preserve market discipline.
IEMOP has also collected penalties for non-compliance by market participants consistent with WESM Penalty Manual (Issue 3.0). These collected financial penalties have been flowed back to consumers through their respective distribution utilities, electric cooperatives, and electricity suppliers.
We likewise support PCCI’s call for transparency in the billing practices of Retail Electricity Suppliers (RES). We remain steadfast in our commitment to uphold the principles of transparency, competition, and efficiency in the operation of the WESM—ensuring a fair and reliable marketplace for all.
