Independent Electricity Market Operator of the Philippines Inc. urged the Department of Energy to assess the viability of having two entities operating and governing the Wholesale Electricity Spot Market (WESM).
IEMOP president and chief executive officer Richard Nethercott said company personnel were demoralized by the criticisms hurled against the agency as operator of the WESM, the trading floor of electricity.
He said DOE should revisit DOE Circular No. DC2018-01-0002 and “reassess the viability of maintaining the two-entity set-up of the WESM operations and governance.”
IEMOP operates the WESM, while Philippine Electricity Market Corp. governs the WESM.
Under the Electric Power Industry Reform Act of 2001, the DOE promulgated DOE Circular No. DC2018-01-0002, “Adopting Policies for the Effective and Efficient Transition to the Independent Market Operator for the Wholesale Electricity Spot Market.”