ERC orders partial lifting of settlement suspension

By The Manila Times

May 16, 2024 12:31 am

REGULATORS have partially lifted the suspension of reserve market settlements at the Wholesale Electricity Spot Market (WESM) to allow power firms to recover some incurred costs.

In a May 9 order, the Energy Regulatory Commission directed Philippine Electricity Market Corp. (PEMC) and the Independent Electricity Market Operator of the Philippines Inc. (IEMOP) to allow the settlement of 30 percent of amounts for payment covering reserve market transactions for the March billing month.

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