As required by Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA), the Independent Electricity Market Operator of the Philippines, Inc. (IEMOP) serves as the independent market operator of the Wholesale Electricity Spot Market (WESM), a centralized venue among large-scale electricity buyers and sellers.
Established in 2018, the IEMOP is responsible for pursuing the objective of the WESM of having a fair, competitive, and reliable electricity market in the Philippines. It is focused on facilitating electric trade and delivering market solutions, and it serves as a platform for wholesale electricity trading, along with demand forecasting, monitoring and settlement. It is tasked as well with adopting the best practices in market solutions and operations, ensuring transparency, accessibility, and efficiency in the evolving energy landscape.
As it marks six years of serving the electric power industry this year, the IEMOP strives to guide and empower the Philippine electricity sector through its recent capacity-building, knowledge-sharing, and development initiatives, among others.
“Over the past six years, IEMOP has been steadfastly contributing to development and innovation in the energy industry, achieving several significant milestones such as the integration of Mindanao into the WESM and, more recently, the commencement of the Ancillary Service Market which has transformed WESM into a co-optimized energy and reserves market,” IEMOP President and Chief Executive Officer Atty. Richard J. Nethercott said in a statement.
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