Philippine Electricty Market Board Has New Prexy

The Philippine Electricity Market (PEM) Board has appointed a new Rules Change Committee (RCC) Chairperson.

Dr. Phares P. Parayno takes over from Philippine Electricity Market Corporation (PEMC) President Lasse A. Holopainen who served as chairperson of the committee since 2003.

The RCC, which pre-existed the PEM Board, has been instrumental in revising and proposing amendments to the Wholesale Electricity Spot Market (WESM) Rules. "I am glad to have had the chance to serve as chairman of the committee and I am confident that Dr. Parayno will bring a fresh perspective and new energy to ensure continuing improvement of the WESM Rules," said Holopainen.

The turnover was conducted during the annual RCC Planning Session recently where the committee also outlined schedules and priorities for the year.

"It is a great honor to chair the Rules Change Committee of country's first and only electricity spot market. As chairperson, I will ensure that the WESM rules are fair to all the market participants," said Parayno who has been a member of the RCC since 2005.

Dr. Parayno, a BS Chemical Engineering graduate of the University of the Philippines, finished his Ph. D. in Energy Management and Environment Policy from the University of Pennsylvania. Currently, Dr. Parayno is the Chairperson of the Department of Environment of Miriam College.

The RCC is mandated to provide assistance to the Philippine Electricity Market (PEM) Board and the Department of Energy (DOE) in revising and proposing amendments to the Wholesale Electricity Spot Market (WESM) Rules. The Committee assesses proposed changes or amendments and recommends these changes based on its feasibility and consistency with the objectives of the market.

The RCC composition mirrors that of the PEM Board with sector representation comprising 15 Committee members. Currently composed of 12 members with 10 sectoral representatives and 2 independent members, the committee should reach full complement by the first half of the year.(Michelle de Guzman)

WESM Extends Live Dispatch Ops In Visayas

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)