IEMOP eyes June launching of power reserve market

By Alena Mae S. Flores – February 16, 2023, 7:25 pm
from manilastandard.net

The Independent Electricity Market Operator of the Philippines, which runs the electricity spot market, said Thursday it expects to launch the reserve market by June.

The reserve market allows for the trading of ancillary services or services that are necessary to support the transmission of capacity and energy from resources to loads, while maintaining the reliable operation of the transmission system.

IEMOP chief operating officer Robinson Descanzo said the target date was given by the Department of Energy and would depend on the approval of the Energy Regulatory Commission of the rules on the price methodology for the implementation of the reserve market in the Wholesale Electricity Spot Market, the trading floor of electricity.

IEMOP filed the application in its capacity as the market operator to secure the approval of the ERC of the pricing mechanism for reserves traded in the WESM. “The target of DOE is to pursue the commercial operations in June. So the PDM has to be approved,” Descanzo said.