PEMC tightens compliance monitoring in 5-minute WESM dispatch
By Myrna M. Velasco – July 16, 2021, 8:00 AM
from Manila Bulletin
The Philippine Electricity Market Corporation (PEMC), which is the governance body of the Wholesale Electricity Spot Market (WESM), has tightened its monitoring systems on the outcomes as well as compliance of trading participants relative to the recent enforcement of a five-minute dispatch in the spot market.
For that purpose, PEMC stated that it instituted the compliance post-evaluation monitoring system (CPEMS) as well as the new market assessment system (NMAS) as oversight toolbox to apprehend any breaches that may be committed in the spot market.
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As particularly noted, the Enforcement and Compliance Office (ECO) and Market Assessment Group (MAG) of PEMC had been “hard at work developing the systems that would monitor market participant compliance and market assessment through data acquisition, real-time monitoring and report preparation.”
PEMC expounded that its CPEMS “was designed to complement the existing compliance monitoring module” to be applied in the newly enhanced trading platform of the electricity spot market.
That particular compliance monitoring system will equip the WESM compliance officers with a facility “to explain flagged probable breaches and submit supporting documents,” it said.
The WESM governing entity specified that the CPEMS “has an interface for participants to receive reports from PEMC upon completion of the assessment.”
It further qualified that in enhancing the market assessment and monitoring capacity of PEMC, its NAMS will serve as the market assessment group’s platform “for data collection, processing, validation and market monitoring to post-market analysis.”
That market system, it added, “is equipped with a graphical user interface (GUI), that enables easy data acquisition and report generation in the form of charts or tables for the assessment of market trends.”
PEMC also laid down that the system “has data visualization tool linked to the NMAS database for near real-time monitoring of the market results.”
It stressed that “these governance systems, largely developed in-house by PEMC personnel who have had years of experience in monitoring the market, have undergone and passed third party audits.”
The 5-minute dispatch interval in the country’s power spot market as underpinned by its Enhanced WESM Design and Operations (EWDO) went live June 26 this year, which at this time, is essentially on commercial operations for less than a month.
