The Independent Electricity Market Operator of the Philippines (IEMOP) proudly celebrates seven years of independence, integrity, fairness, accountability, competence, and dynamism.
Since its assumption of market operator functions on 26 September 2018, IEMOP has played a pivotal role in the management and development of the country’s electricity market, empowering stakeholders, and enabling greater access to reliable energy. The 7th anniversary celebration not only commemorates this legacy but also sets the stage for the future of the Philippine energy industry.
IEMOP marked 2025 as a pivotal year with significant strides in the electricity market, stakeholder collaboration, and sustainability – culminating in the successful conduct of the annual Market Participants Update (MPU) and the third Philippine Electric Power Industry Forum (PEPIF) 2025 in Mindanao.
Held in Cagayan de Oro City on 2 April 2025, the MPU gathered key stakeholders where the latest in market operations were apprised, and concerns and queries were raised. The following day, IEMOP, in collaboration with the Department of Energy (DOE) and the Energy Regulatory Commission (ERC), hosted the Philippine Electric Industry Forum (PEPIF) 2025. Themed “Accelerating Philippine Renewable Energy Transition through Innovation and Collaboration”, key stakeholders critically discussed pressing matters in the Philippine electric power industry.
“Let us embrace the spirit of collaboration and innovation as we work together to accelerate the Philippine renewable energy transition- but we should not forget to collaborate also with our consumers, the electricity end-users. After all, the industry does not exist for itself but for those who consume electricity,” said Cong. Sergio C. Dagooc of the APEC Party List, the event’s Guest of Honor. These events strengthened coordination between public and private entities in Mindanao and beyond.
On April 29-30, IEMOP extended its reach regionally by supporting the Renewable Energy Markets Asia 2025 in Singapore. IEMOP showcased the Philippine electricity market’s progress as regards RECs trading and explored regional strategies for accelerating the adoption of clean energy. On 26 December 2025, the DOE launched the full commercial operations of the Renewable Energy Market (REM), the country’s platform for local RECs trading to facilitate compliance of mandated participants with their Renewable Portfolio Standards (RPS) obligations. Since then, IEMOP, as the Renewable Energy Registrar (RER) has issued 52,782,593 RECs — 25.13% of which had been retired for Compliance years 2020-2022.
2025 records a significant drop in the spot market prices, which hit a five-year low in the first half of 2025. The average spot price dropped to ₱4.14/kWh, down by 26% from 2024, driven by improved supply conditions, increased renewable capacity, and reduced grid congestion.
“The lower prices in the market is the result of improved efficiency in the entire industry value chain. It is a product of the collaborative efforts of all sectors, public and private,” said Atty. Richard J. Nethercott, IEMOP President and CEO, highlighting the joint efforts of every involved entity felt both by consumers and the broader economy.
This year also marked the advent of the Retail Aggregation Program (RAP) which is a vital step forward in promoting greater access to the benefits of Retail Competition and Open Access (RCOA), especially for institutions and communities whose individual demands fall short of the contestability threshold. In 2024, the retail market energy share reached 23.9 TWh, accounting for 21% of total energy transactions, or an average of 2.0 TWh per month. Since the first RAP switch in February 2025, the monthly average retail market share has since increased to 2.14 TWh, representing 23% of total energy transactions. Of this retail market share, 13,079 MWh (0.13 TWh) came from RAP. The average demand for RAP is about 18.40 MW, with a peak demand reaching 30.66 MW. This suggests that, by enabling participation through retail aggregation, the program democratizes access to the competitive retail electricity market thereby allowing aggregated consumers to negotiate better rates, demand improved service quality and support alternative energy sources.
As the Philippines energy landscape continues to evolve, IEMOP recognizes the importance of empowering electricity end-users through more competitive and consumer-friendly energy options and commends entities for embracing innovations that align with its shared vision of a more sustainable and inclusive energy future. IEMOP remains steadfast in its role as the independent market operator — fostering competitiveness, efficiency, and transparency in the WESM.
