By Alena Mae S. Flores Posted on Jul. 11, 2013 at 12:01am
The Philippine Electricity Market Corp., operator of the electricity spot market, imposed a P4-million penalty on two subsidiaries of First Gen Corp. for violations of the real-time dispatch rules.
First Gen said in a disclosure to the stock exchange the PEMC approved the imposition of a P4-million penalty on First Gas Power Corp. and FGP Corp. for alleged non-compliance with the real-time dispatch schedule.
First Gen said the non-compliance took place in 2008 when the Malampaya gas field in northwest Palawan, which supplies fuel to First Gen’s Sta. Rita and San Lorenzo power plants, was under maintenance and was shifting to liquid fuel.
“We have made adjustments to the system to reflect real-time dispatch. Note that it only happened in 2008, and not 2007 up to 2011,” First Gen said.
Energy Secretary Carlos Jericho Petilla confirmed several companies were penalized for non-compliance with the rules of the wholesale electricity spot market in the period 2007 to 2011.
“There are quite a few [companies]. However, some of them are appealing and they have various reasons,” Petilla said when asked for comment.
Trading participants at WESM are required to operate their plants in accordance with the real-time dispatch schedule, which runs at the start of each hour.
Non-compliance with real-time dispatch schedules/instructions refers to the failure of a generation company to comply with the dispatch schedules of their respective generating units.
Dispatch schedule refers to the level or amount of generation a unit is required to produce or deliver within a certain hour. source
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