Danessa Rivera (The Philippine Star)
- June 27, 2018 - 12:00am
MANILA, Philippines — The country’s wholesale
electricity spot market (WESM) yesterday commenced independent operations under
the independent market operator (IMO), nearly two decades after the Electric
Power Industry Reform Act of 2001 (EPIRA) mandated its transition to an IMO.
“Today, marks the first day they are
totally independent from DOE (Department of Energy),” Energy Secretary Alfonso
Cusi said during the E-Power Mo Conference yesterday.
Cusi relinquished his chairmanship
in the Philippine Electricity Market Corp. (PEMC) during its annual general
membership meeting Tuesday, calling it an important step in paving the way for
independent stakeholders to be elected into the company.
He said the IMO transition plan,
designed by the PEMC transition team in August 2017, calls for the formation of
a new company called the Independent Electricity Market Operator of the
Philippines (IEMOP) as an independent market operator with PEMC remaining as
WESM’s governing body.
During the meeting, PEMC elected 15
board members, including 11 sectoral representatives and four independent
directors.
The elected board members were
Emmanuel Rubio (SN Aboitiz Power), Victor Emmanuel Santos Jr. (First Gen
Corp.), Elenita Go (SMC Global Power Holdings Corp.), Juan Eugenio Roxas (FDC
Utilities Inc.), Rolando M. Cagampan (Meralco), Allan Laniba (LEYECO III),
Felino Herbert Palpallatoc Agdigos (Ilocos Norte Electric Cooperative),
Gilbert Pagobo (Mactan Electric Co. Inc.), Noel Villas Aboboto (Team
Energy), Ronald Dylan Concepcion (National Grid Corp. of the Philippines),
and Francis Saturnino Juan (Independent Electricity Market Operator of the
Philippines).
Four new independent directors were
also elected namely, Raul Tan, Oscar Ala, Jesus Lim Arranza, and Peter
Leslie Wallace.
The election of a new PEM board brings
the industry a step closer to the long-delayed transition to the IMO as it
affirmed the seven board members appointed by the DOE to spearhead the
transition to fully independent WESM operations.
The IMO will be initially headed by
Juan, as chairman, president and CEO; Jose Mari Bigornia as COO; Carrol Tang,
Johnny Tuason, Jose Rodelio Mangulabnan, Richard Nethercott and Lt. Gen. Ralph
Villanueva as board members.
Cusi said the initial IMO board has
varied skills—from legal, finance, engineering and intelligence—which are
needed by the market operator.
PEMC was incorporated in 2003 and
was constituted as the autonomous group market operator to oversee market
governance and perform the functions of the market operator in the WESM, which
was created under the EPIRA.
While PEMC and the IMO will be
independent from the government, the DOE will maintain oversight of the WESM
operations.
“The DOE’s involvement with WESM
needs to be close enough for the Department to understand key developments,
while keeping enough distance from the market’s daily functions. The Energy
Department will remain the ultimate guardian of WESM rules and manuals.
Together with the Energy Regulatory Commission, we will protect our consumers
against industry breaches and anti-competitive behavior,” Cusi said.
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