• 09:58
  • Sun, 05 February 2023

The Independent Electricity Market Operator of the Philippines (IEMOP) facilitates electricity trade in the Philippine electric power industry as the Independent Market Operator (IMO) of the Wholesale Electricity Spot Market (WESM) and as the Central Registration Body (CRB) for the retail electricity market via the Retail Competition and Open Access (RCOA) and the Green Energy Option Program (GEOP). It discharges its mandates under the policy and regulatory oversight of the Department of Energy (DOE) and the Energy Regulatory Commission (ERC). As the Independent Market Operator of the WESM, IEMOP serves as the main platform for wholesale electricity trading by, among other things, managing the registration for new entrants, receiving electricity bids and offers, demand forecasting, calculating real-time market prices and dispatch schedules of participants, monitoring the day-to-day market trading, and handling billing, settlement, and collections.

As the Central Registration Body (CRB) for the retail electricity market, IEMOP plays a pivotal role in fostering competition in the Philippine electricity sector. Under the existing legal framework for Retail Competition and Open Access (RCOA) and Green Energy Option Program (GEOP), eligible electricity end-users are given option to secure their supply from a retailer of their own choosing duly-licensed by the ERC. IEMOP maintains a registry of these contestable customers and their current suppliers, tracks the market transactions made by their suppliers on their behalf, and facilitates customer-switching.

Pursuant to the policies of the DOE, IEMOP is also preparing to assume the registrar functions for the Renewable Energy Market (REM). The REM is a venue for the trading of Renewable Energy Certificates (RECs) in the Philippines.

 

Our Corporate Governance Charter

 

 

We envision IEMOP to become a leading market service provider in the world, known for its expert market solutions and innovation and distinguished by its commitment to excellence.

Our principal purpose is to run the electricity market.  However, we are not limited to WESM. We can leverage on our expertise and operate in other markets.  We do not just operate any market, we ensure that they are competitive and transparent.

Further, we are committed to providing a conducive environment for innovation and sustainable growth. We aim to deliver market solutions that empower and benefit all our stakeholders.

IEMOP is composed of experts and professionals who are driven by a common set of core values:

Independence – Our independence gives us an unbiased attitude and fosters a strong work culture that allows us to perform engagements or actions in a manner and quality wherein no compromises are made. It enables us to take action without being affected by or beholden to any external or partisan influences that affect our professional judgment, allowing the organization to act with integrity and objectivity.

Integrity – We are honest, ethical, and beyond reproach in all our transactions.

Fairness – We are impartial and objective in our decision-making and actions.

Accountability – We take full responsibility for our actions.

Competence – We maintain our expertise and professionalism in our body of work and strive to continually improve our services.