DOE set to launch renewable energy market next year

Energy assistant secretary Mylene Capongcol said the department was preparing the readiness criteria for the REM.

The Philippine Electricity Market Corp. launched the interim commercial operations of the REM in August. The certificates will be used for compliance with the renewable portfolio standards—a policy mechanism that requires electric power industry participants such as generators, distribution utilities and suppliers to source or produce a specified fraction of their electricity from eligible RE resources.

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