malaysiangMANILA: The Department of Energy (DOE) is set to restart the reserve market early this month.
In a statement Friday, the agency said it directed the Independent Electricity Market Operator of the Philippines (IEMOP) to coordinate with the Energy Regulatory Commission (ERC) and the National Grid Corporation of the Philippines (NGCP) to make necessary adjustments to the Wholesale Electricity Spot Market (WESM) systems.
“The ERC’s action to lift the suspension of Section 8 of the billing and settlement of the PDM (Price Determination Methodology) will lead to the resumption of the reserve market which is eagerly awaited by both the power sector industry and the DOE,’ DOE Undersecretary Rowena Guevara said.
‘Coordination among the DOE, ERC, MO (market operator) and SO (system operator) are therefore crucial for the necessary adjustments to the WESM systems and processes to ensure the smooth implementation of the reserve market,” she said.
The said changes are required to align the reserve market’s one-hour di
spatch interval with the energy market’s five-minute trading interval. The synchronization is essential for the efficient co-optimization of energy and reserves, the DOE said.
The DOE has also called on market operator to submit guidelines for approval to ensure compliance with the ERC’s PDM.
The DOE will issue an official advisory to resume the reserve market this Aug. 5 once the guidelines are submitted.
Source: Philippines News Agency
