Published June 13, 2018, 10:00 PM By Myrna M.
Velasco
Beijing, China – State-run Vietnam
Electricity (EVN) is sending teams to the Philippines to study and catch sight
of a first-hand reference on how it can develop its electricity spot market for
the Vietnamese power sector.
In an interview on the sidelines of
the recently concluded Belt and Road Initiative (BRI) International Summit at
the China World Hotel, Siemens Regional Chief Executive Officer Dr. Armin Bruck
indicated that through the Philippine Wholesale Electricity Spot Market (WESM),
“we have a first example that EVN would be able to look at on this kind of
solution.”
Vietnam itself is pursuing the
privatization of its state-owned power assets, thus, the well anticipated
broadening of ownership could spur its way into designing and operating its own
spot market.
“For Vietnam taking a reference on
the Philippines, that will be a real synergy for us, especially on providing
cost competition to customers,” Bruck stressed.
He added that if they win the spot
market development tender in Vietnam, “we may have a similar system like what
we have done in the Philippines. EVN is already looking at the Philippines –
studying how it is done, how they shall do it and how can they benefit from
that.”
Other than Vietnam, Bruck noted that
the WESM in Manila is similarly being held as reference even for other
electricity markets in the Asian region.
“Even other countries are now
looking at Manila. This is an ideal situation for us, as well as for them. We
have fantastic reference in the Philippines being one of the firsts to have a
spot market in Asia,” Bruck said.
In the Southeast Asian domain, it is
just the Philippines and Singapore now that have electricity spot markets –
with both markets having struggles and birth pains also of having to deal with
cost spikes at some point into their operations.
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