Electric cooperatives in Mindanao are opposing the terms under the planned wholesale electricity spot market (WESM), claiming that their recommendations during the Department of Energy’s (DoE) consultations were not considered. In a news conference here Friday, the Association of Mindanao Rural Electric Cooperatives, Inc. (AMRECO) said one of their main proposals is establishing an “independent”…
Tag: WESM
Power spot market prices drop to 6-yr low in Jan
More customers sourced power from the wholesale electricity spot market (MWESM) as prices plummeted to six-year lows in January, based on data from the Philippine Electricity Market Corp. (PEMC). In a statement yesterday, PEMC said effective settlement spot prices (ESSPs) at the WESM plunged to P1.90 per kilowatt-hour (kwh) for the January billing period, the…
PEMC flags electric cooperatives’ financial capacity for spot market
The financial capacity of electric cooperatives remains the biggest concern in the planned opening of the wholesale electricity spot market (WESM) in Mindanao, according to the head of the Philippine Electricity Market Corp. (PEMC). Read more here.
DOE pushes info drive for WESM Mindanao
The Department of Energy (DOE) is strengthening its information campaign in pushing for the Wholesale Electricity Spot Market (WESM) in Mindanao. The DOE has been conducting preparatory activities for the launch of WESM Mindanao, in coordination with the Philippine Electricity Market Corp. (PEMC) and the National Grid Corp. of the Philippines (NGCP). The agency has…
Power spot market prices down in October
The electricity spot market continued to register monthly reductions in rates in October as a result of to higher supply and lower demand due to cooler temperature. In a statement, the Philippine Electricity Market Corp. (PEMC) said effective settlement spot prices (ESSPs) in the wholesale electricity spot market (WESM) fell seven percent from P2.86 per…
Power spot market prices nearly halved in Sept
Ample supply and cooler temperatures drove Wholesale Electricity Spot Market (WESM) rates down by nearly half as of end-September. In a statement, the Philippine Electricity Market Corp. (PEMC) said there was a considerable dip in the final effective settlement spot prices (ESSPs) for the September 2016 billing period at P2.86 per kilowatt-hour from P4.17 per…
ERC forms 2 divisions to speed up price collusion probe
The ERC has formed two divisions for a speedy decision-making on the cases of 12 power players that withheld power supply in December 2013 which resulted in record high increase in electricity rates. Currently pending is the decision on the 13 complaints from the ERC-Investigating Unit in violation of Section 45 of Republic Act No. 9136 pertaining…
WESM rate to decrees in rainy season
Barring unforeseen plant outages, the electricity spot market rate is expected to sustain its downtrend on cooler temperature and higher available supply from various power plants, market operator Philippine Electricity Market Corp. (PEMC) said. Read more here.
PEMC receives 20 contestable market applications
THE PHILIPPINE Electricity Market Corp. (PEMC) has received 20 applications from electricity end-users consuming 750kwh who wish to become “contestable consumers” and have the option to choose their retail electricity supplier (RES), the company said on Tuesday. This comes as the ERC has finally issued the dates during which contestable consumers are required to buy their electricity…
Power rates drop in June
The residential rate for a typical household consuming 200 kilowatt hour (kWh) per month will go down by P0.13 per kWh to P8.32 per kWh in June, Meralco said on Tuesday. Meralco spokesperson Joe Zaldarriaga noted the generation charge declined by P0.16 per kWh. Rates were also lower from the Wholesale Electricity Spot Market and…
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