Published April 26, 2018, 10:00 PM By Myrna M.
Velasco
The chief executive officer (CEO) of
the energy investment arm of Filinvest Development Corporation (FDC) had topped
the voting for a board seat at the governing body of the Wholesale Electricity
Spot Market (WESM).
In a voting held on Wednesday (April
25) among power generation companies that are traders at the WESM, FDC
Utilities, Inc. (FDCUI) President and CEO Juan Eugenio L. Roxas emerged at the
top, edging out rivals who are from the top three players in the power
industry.
Second in the final tally had been
Aboitiz Power Executive Vice President Emmanuel V. Rubio; and followed by SMC
Global Power Holdings Corporation General Manager Elenita D. Go; then First Gen
Senior Vice President Victor Emmanuel B. Santos.
Coming in last in the poll outcome
had been Power Sector Assets and Liabilities Management Corporation
Officer-in-Charge Arnold C. Francisco, who was also the lone government nominee
in the Philippine Electricity Market (PEM) Board.
Four seats will be allotted to the
generation companies in the restructured PEM Board, which will then serve as
the governing body of the WESM following its transfer of day-to-day operations
to an independent market operator.
That entails then that all four
private generation firms – FDCUI, San Miguel Group, Aboitiz Power and First Gen
will all corner a seat in the PEM Board; and it will be state-run PSALM that
would be dislodged in the process.
Industry watchers have noted that
the voting result “shows the stronghold of the private sector in the
liberalized power sector, with the government already getting eclipsed in the
market’s vantage point.”
PSALM though is still a “significant
player” in the industry, with several of National Power Corporation’s assets
remaining under its charge due to some hurdles in privatization processes being
carried out by the State.
June this year will be a critical
transition for the country’s electricity spot market with the expected entry of
the Independent Electricity Market Operator of the Philippines (IEMO) to manage
the market operations function of the WESM.
No comments:
Post a Comment