THE Independent Electricity Market Operator of the Philippines (IEMOP) said trial operations for the spot market for power reserves are due to run until late September, with commercial operations awaiting key milestones like approval for the market’s pricing mechanism.
“We are working and completing essential prerequisites which include PDM (price determination methodology) approval and ensuring the readiness of our system and processes and a comprehensive software certification audit,” Christian Karla A. Rica, an IEMOP assistant manager for Knowledge Management Services, said in a virtual briefing.
“As of now, the trial operations program is in full swing and will run until Sept. 25. This program is a crucial step in ensuring the successful transition to the commercial operations,” she added.
Ms. Rica said that the Energy Regulatory Commission (ERC) has completed the public hearings for the PDM but has yet to give its approval. The ERC has said that it hopes to approve the PDM within this month.
IEMOP operated the Wholesale Electricity Spot Market. The reserve market will facilitate the trading of ancillary services (AS), which are power reserves needed to support the transmission system.
In June, the Department of Energy (DoE) said that the IEMOP has completed preparatory activities required for the commercial launch, authorizing it to start trial operations for the reserve market.
The software certification audit is expected to be completed by October. It is being conducted by an independent auditor through Philippine Electricity Market Corp., IEMOP said. — Ashley Erika O. Jose