This IEMOP Annual Report provides highlights on the operations of the Philippine Wholesale Electricity Spot Market (WESM) particularly the market outcomes for year 2024. This report covers the state of supply and demand including generator performance per technology as well as transmission performance – all of which are factors affecting the WESM prices.
This report also features market developments including Reserve Market and the concept of co-optimization with energy, implementation of the Retail Competition and Open Access (RCOA) and the Green Energy Option Program (GEOP) in Mindanao, and the launching of the full commercial operations of the Renewable Energy Market (REM) with IEMOP as the Renewable Energy Registrar (RER). Additionally, this report provides updates on the country’s economic and technological state of energy with respect to neighboring Southeast Asian countries and the world.
