The Philippine Electricity Market Corporation (PEMC), the governance arm of Wholesale Electricity Spot Market (WESM), is preparing for the deployment of a new market infrastructure, after the Department of Energy’s (DOE) approval of changes to WESM rules implementing enhancements to WESM design and operations, the agency said.

The DOE policy directed changes in the salient features of market design such as shortening of the power dispatch interval from one hour to five minutes to lessen intra-hour deviations and imbalances; a single pricing mechanism as a result of the shortened dispatch interval that will no longer require ex-post runs; automatic pricing re-runs that will yield availability of prices in real-time; reduction of gate closure from one hour to thirty seconds or less to provide trading participants flexibility in managing risks for unplanned events; and co-optimized energy and reserves that will ensure optimal scheduling of energy and ancillary services.

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