September 17, 2013

Power spot trading starts in Mindanao

The Energy Regulatory Commission (ERC) has granted Philippine Electricity Market Corp. (PEMC), the provisional authority to implement its pricing and cost recovery methodology for an electricity market in Mindanao.

“With the grant of the provisional authority, PEMC may now start the Interim Mindanao Electricity Market (IMEM) operations using the price determination methodology (PDM) that it proposed,” the ERC said.

The IMEM is designed to act as a day-ahead market where contracted capacities are traded. The day-ahead price is market driven and will be subject to an offer cap to be agreed by the regulators. - WealthSec