Philippine Electricity Market Corp., operator of the country’s electricity trading floor, is seeking approval from the Energy Regulatory Commission to approve proposed market fees of P822.208 million in 2008. PEMC, operator of the Wholesale Electricity Spot Market, sought the fees in a nine-page petition with the ERC dated October 12. The indicative market fee rate is based on the Luzon and Visayas energy forecast of 79,262.97 gigawatt-hours. The transition committee is tasked to assess PEMC’s existing structures, systems, and resources and will propose a way forward for the WESM to meet the challenges ahead. PEMC, incorporated in 2003, was constituted as the autonomous group market operator to oversee market governance and perform the functions of the market operator in the WESM.

Source: The Standard October 24, 2017 13:07 UTC