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RE market operations start Dec. 26

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OPERATIONS of the Philippine renewable energy market (REM) will start on Dec. 26, the Department of Energy (DOE) announced in a circular on Tuesday.

OPERATIONS of the Philippine renewable energy market will start on Dec. 26, the Department of Energy announced in a circular on Tuesday.

Each facility will receive one REC for every megawatt-hour of verified RE generation.The current price of RECs, which is set by the Energy Regulatory Commission , is P241.56 per MWh.The REM's mandated participants consist of companies or electricity suppliers in on-grid areas such as distribution utilities , electric cooperatives , retail electricity suppliers , local electricity suppliers , suppliers of last resort , and generation companies , and in off-grid areas.

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