The Independent Electricity Market Operator of the Philippines and the Philippine Electricity Market Corp. asked the Energy Regulatory Commission to approve the proposed market fees of P1.016 billion for 2023.
IEMOP is the operator of the Wholesale Electricity Spot Market, the trading floor of electricity, while PEMC is the governing body.
The amount translates into P0.0093 per kilowatt-hour to be charged to all generation companies registered in the WESM based on their actual generation, the parties said in a filing with the ERC.
“As in any enterprise, sufficiency of resources is imperative considering the need to finance even the minimum requirements for a normal level of operation,” the applicants said.
It said the WEWSM needs sufficiency of resources as it is being operated on a 24×7 basis and is highly critical to sustaining a transparent and competitive electricity market.