THE Department of Energy is targeting the full commercial operation of the trading of ancillary services or power reserves at the electricity market in December.
“Starting December 26, 2023, the market operator shall implement the full commercial operation of the RM, wherein the co-optimized energy and reserve schedules, including their associated prices generated by the market dispatch-optimization model, shall be financially binding,” the draft circular stated.
The RM is the venue for trading of ancillary services or power reserves meant to support the power transmission system. Last Friday, the ERC granted preliminary approval to the joint application of the Independent Electricity Market Operator of the Philippines and the Philippine Electricity Market Corp. for the PDM, as well as for the implementation of the co-optimized energy and RM.
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