NEA asks 11 electric co-ops to join launch of Mindanao spot market

By Alena Mae S. Flores – November 20, 2022, 7:45 pm
from manilastandard.net

The National Electrification Administration asked Mindanao electric cooperatives to complete their requirements to participate in the launch of the region’s electricity spot market next month.

“This refers to the target ‘Go Live Operation’ by December 2022 of the Wholesale Electricity Spot Market, which signifies the commencement of its commercial operation in Mindanao,” NEA said in a memorandum.

“To successfully push through with this activity, the completion of the registration requirements of all the prospective participants is mandatory,” the agency said.

Data from the Independent Electricity Market Operator of the Philippines, WESM operator, showed that as of Oct. 3, 17 of the 28 prospective participants’ ECs already registered with the company.

Eleven ECs were still undergoing assessments for completion of requirements or had not yet applied.

“NEA enjoins the 11 ECs to provide a status update on their pending WESM requirements for completion. This will enable NEA to extend the appropriate assistance that may be needed by the concerned ECs,” NEA said.

Mindanao Development Authority deputy executive director Romeo Montenegro said WESM Mindanao was expected to unlock advantages such as having market-driven electricity price, transparency of dispatch, power sourcing flexibility for grid-connected electric cooperatives and market viability for renewable energy players.

Meanwhile, President Ferdinand Marcos Jr. appointed Antonio Mariano Almeda as the new NEA administrator. Almeda will assume office on Nov. 21, replacing Emmanuel Juaneza.