DOE expects IMEM to push through this month

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The trial operations of Interim Mindanao Electricity Market (IMEM), an electricity spot market concentrated in Mindanao region only, is expected to push through this month after having been postponed due to a system-wide brownout that occurred in the region in February.

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Energy Secretary Carlos Jericho Petilla, together with the energy agencies, recently met with the presidents and general managers of Mindanao electric cooperatives (ECs) to clarify and resolve concerns on the operations of the IMEM.

As a result of the meeting, the Department of Energy (DOE) recently issued Department Circular DC2014-05-0010, which incorporates the agreements made with the stakeholders to implement demand-side bidding with cooperatives being the ones who will set the price of power and minimize the price volatility for customers.

This, according to the DOE, would give Electric Cooperatives the flexibility to adjust their IMEM exposure by allowing them to factor in the actual available output of their power providers, and the demand requirements for the particular trading hour.

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