Published July 12, 2021, 2:00 PM
The operator of the Wholesale Electricity Spot Market (WESM) is temporarily enforcing ‘relaxed rules’ – for at least three months, on the prudential requirement (PR) as well as dispatch conformance of trading participants in the Mindanao spot market.
According to Robinson Descanzo, chief operating officer of the Independent Electricity Market Operator of the Philippines (IEMOP), “for the initial operation of WESM (in Mindanao), we relaxed the compliance on dispatch and prudential guarantee.”
The commercially binding price settlements for WESM-Mindanao will start October 26 this year, hence, the easing of the rules are anticipated to stay within July to September.