The Wholesale Electricity Spot Market sees an annual gross turnover of P38 billion from its Visayas commercial operations set to begin shortly from Cebu.  

Through the WESM, suppliers and buyers in the Visayas can trade electricity as a commodity. Trading participants include generators, distribution utilities, rural electric cooperatives, and industrial and commercial customers.

Mario Pangilinan, executive vice president of the Philippine Electricity Market Corp., said in a statement they have extended the Live Dispatch Operations in the Visayas, which started since Feb. 5, marking the final step of the Visayas Trial Operations. 

The LDO tests the readiness of the market systems and the participants prior to full commercial operations and during this period, all electricity in the Visayas is being schedule through the WESM market system.

Pangilinan said the WESM Billing and Settlements Department has set up a mock settlement system for the participants to experience financial reconciliations during the LDO.  This will also enable the full testing of the financial system in preparation for the Visayas launch, he added.

In Luzon, commercial operations has been ongoing since June 2006.

PEMC president Lasse Holopainen said in a statement he hopes the Visayas commercial operations will  finally resolve the issues on future power investments while maintaining competitive electricity rates.*NLG

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