Philippine Electricity Market Corp. (PEMC) is set to hand over operations of the country’s electricity spot market to the Independent Electricity Market Operator of the Philippines Inc. (IEMOP). In a statement, PEMC said it had signed an operating agreement to formalize the transfer of all functions, assets, and liabilities associated with the Wholesale Electricity Spot Market (WESM) beginning September 26. PEMC will remain the governing body for WESM to monitor compliance by the market participants with market rules, subject to the policy and regulatory oversight of the Department of Energy and the Energy Regulatory Commission. JORDEENE LAGARELoading...

Source: Manila Times September 19, 2018 16:31 UTC