The Wholesale Electricity Market Corporation (WESM) is extending its Live Dispatch Operations (LDO) in the Visayas in preparation for the Department of Energy's (DOE) approval for full commercial operations in the Visayas.
The LDO, which has been ongoing since 5 February 2008, marks the final step of the Visayas Trial Operations. It is intended to test the readiness of the market systems and the participants prior to full Commercial Operations. During this time, all electricity in the Visayas is being schedule through the WESM market system.
"The Market Operator (MO) and the System Operator (SO) have been working closely during the course of the LDO in order to fully implement the dispatch schedules provided by WESM" said PEMC Executive Vice President Mario R. Pangilinan. "Visayas in general has been very cooperative. We are looking forward to working closely with the participants and SO Visayas upon Commercial Operations," he added.
The WESM Billing and Settlements Department has set up a mock settlement system so the participants may experience financial reconciliations during the LDO. The mock settlement also enables the full testing of the financial system in preparation for the spot market's Visayas launch. When the market operates, the WESM will have a gross turnover in the Visayas of thirty-eight (38) billion pesos annually.
Commercial Operations in Luzon was launched June 26, 2006. "The market has been a catalyst for change in the power industry, encouraging significant interest in the government privatization program. For the Visayas on the other hand, we hope that this will finally resolve the issues regarding future power investments while maintaining competitive electricity rates," revealed PEMC President Lasse A. Holopainen.(Michelle de Guzman)
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