The launching of the Visayas Wholesale Electricity Spot Market, where suppliers and buyers can trade electricity as a commodity, has been deferred anew, based onadvice from the Department of Energy.

“We cannot discount the fact that in the Visayas there is inadequate capacity both in the transmission and generation facilities," Energy Secretary Angelo Reyes said in a statement from his office.

Reyes, however, noted that the Philippine Electricity Market Corporation, the governing body and market operator of the WESM, and its Market Management System are technically prepared.

KABGEM posts
P3.4M surplus in ’07

The Kabankalan Government Employees Multi-Purpose Cooperative has realized a net surplus of P3.407 million in 2007, from only P965,000 in 2005, KABGEM said in a press release.  

Its assets have grown from P4.7 million in 2005 to P32.575 million in 2007, the press release also said.

KABGEM president Rogelio Diaz reported the financial status of the cooperative during their 4th General Assembly last April 4 at the city function room attended by 772 members.

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