The Department of Energy said Tuesday the renewable energy market will start full commercial operations on Dec. 26, 2024 after all critical preparatory activities were completed.
It is intended as a facility for mandated participants to comply with their renewable portfolio standards obligations. The DOE said in a letter dated Nov. 5, 2024 that the Philippine Electricity Market Corp. and the Independent Electricity Market Operator of the Philippines attested that all critical activities under the REM readiness criteria were satisfactorily completed and recommended proceeding with the declaration of the full commercial operations of the REM.
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