Some 11 years since its establishment in Luzon and over six years since taking a foothold in the Visayas, the Wholesale Electricity Spot (WESM) will come to Mindanao today, June 28.
Energy Secretary Alfonso Cusi waxed optimistic with the establishment of WESM Mindanao, saying it “signals the start of a competitive electricity market in the region whose costing is very transparent.”
He said that the provision of more reliable and competitive supply that results in more affordable power to consumers in the region is in line with the Duterte administration’s thrust to vastly improve Mindanao’s economy and the quality of life of its people.
“WESM facilitates a transparent electricity market with which Mindanao power generators will have an avenue to trade un-contracted power supply,” said Cusi.
“It will provide consumers more sources of electricity to choose from, increasing their chances of lower-priced energy,” he added.
The launch of WESM Mindano is set at SMX Lanang in Davao City.
The Electric Power Industry Reform Act (EPIRA) of 2001 mandated the Department of Energy (DOE) to establish WESM as a venue for trading electricity as a commodity.
WESM started commercial operations in the Luzon grid in June 2006 and in December of 2010 in the Visayas grid, while the intricacies of the Mindanao power industry delayed the establishment of WESM Mindanao.
WESM Mindanao will be operated by the Philippine Electricity Market Corporation (PEMC), a non-stock, non-profit corporation which also operates the Luzon and Visayas WESMs.
“WESM Mindanao will enable a transparent and fair mechanism to bring in more competition, more investors and a sustainable business climate that will eventually redound to empowering consumers from Mindanao of their power of choice,” said Cusi. (ALT/CAL/PIA9-Zamboanga del Sur/DOE Press release)