The Independent Electricity Market Operator of the Philippines , the operating entity of the Wholesale Electricity Spot Market , is planning to stop collecting market fees from trading participants if no coordination could still be established with the board of the Philippine Electricity Market Corporation , the governance body of the spot market.
But while waiting for a reply and direction from the PEM Board, Villanueva indicated that IEMOP “shall continue to collect the market fees for the WESM as a matter of right and obligation under EPIRA and its IRR .” The IEMOP chairman noted that they are primarily leaning on a decision rendered by the Supreme Court last March declaring that “IEMOP is now the independent market operator or the market operator of the WESM.”
With this development, Villanueva said “We are likewise hopeful that the issues hounding the IMO transition will be laid to rest in view of the clear pronouncement of the Supreme Court in its decision,” adding that “we remain open to discussion with the PEM Board to achieve stability and certainty of WESM operations and governance.”
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