The Energy Regulatory Commission temporarily suspended the operation of the Wholesale Electricity Spot Market in Luzon and Visayas under certain conditions to mitigate the anticipated increase in prices in the spot market, President Marcos said on Wednesday.
“Just yesterday, the Energy Regulatory Commission took action to temporarily suspend the operation of the Wholesale Electricity Spot Market, or WESM, when the System Operator, NGCP, declares a Red Alert. This is aimed at curbing the rise in electricity prices amid the calamity caused by El Niño,” Mr. Marcos added.
“The Commission is working doubly hard to alleviate the impact of El Niño on our power system, and we are finding ways to mitigate the impact of the extremely high demand resulting from the high heat index as these ultimately affect our consumers,” ERC chairperson and chief executive Monalisa Dimalanta said.