- START OF IEMOP ASSUMPTION OF WESM OPERATIONS
On Sept. 26, 2018, the Independent Electricity Market Operator of the Philippines (IEMOP) assumed the operations of the Wholesale Electricity Spot Market (WESM) to manage the registration of market participants, receive generation offers, come out with market prices and dispatch schedules of the generation plants, and handle billing, settlement, and collections, among other functions. Under the policy and regulatory oversight of the Department of Energy and the Energy Regulatory Commission (ERC), Philippine Electricity Market Corporation (PEMC) remains as governing body for WESM to monitor compliance by the market participants with the market rules.
- IEMOP SETTLES MMS LOAN WITH PSALM
Oct. 26, 2018 — Exactly one month since taking over the operations of WESM, IEMOP executed a Memorandum of Understanding (MOU) with the state-run PSALM (Power Sector Assets and Liabilities Management Corporation) for the full payment of the loan used for procuring the Market Management System (MMS) for the WESM.
- KAPIHAN 1Q 2019
During the first quarter of 2019, IEMOP conducted stakeholder meetings with partner organizations and WESM members. The dialogue with the officers and members of Retail Electricity Suppliers Association (RESA), Philippine Electric Plant Owners Association (PEPOA), Philippine Independent Power Producers Association (PIPPA), and National Grid Corporation of the Philippines (NGCP) provided IEMOP with opportunity to introduce its Board of Directors and officers, report its activities, update on market operations and the new market systems, and listen to and discuss issues and concerns.
- FIRST IEMOP MARKET PARTICIPANTS UPDATE (MPU)
One collaboration point for success is the conduct of the first-ever Market Participants Update (MPU) on April 11, 2019. This was arranged to apprise participants on market outcome, system performance and recent developments as well as to create discourse on relevant policy and operational issues in the WESM. The event was an overwhelming success as IEMOP gained affirmative feedback from the attendees. IEMOP plans to make this a regular undertaking.
- IMS CERTIFICATION
IEMOP successfully fulfilled the requirements for certification of compliance with ISO 9001:2015 standard and ISO 27001:2013 standard. TÜV SÜD recommended the awarding of the ISO certifications for the Quality Management System and Information Security Management System to IEMOP as a result of its surveillance audits in December 2018.
Adhering to international standards in providing quality services is a testament to IEMOP’s establishment of a continuous culture of excellence. Its implementation of systematic processes for enhancement of quality management, information security, business continuity, enterprise risk management, and continuous improvement is part of its vision to be a world-class service organization committed to provide excellent and reliable market management.
- 2ND KAPIHAN
IEMOP continued to work closely with WESM stakeholders, through consultation meetings in order to elevate industry relations and to fashion a strong feedback culture that would help IEMOP emerge as a more reliable and even more customer-responsive market operator than ever before.
Held in September 2019, the meeting served as an opportunity for the IEMOP Board of Directors and Officers to personally meet with organizations (PIPPA, RESA, PEPOA, and PHILRECA) to discuss market-related concerns and developments.
- READY? GET SET. GROWTH! WESM MINDANAO INFORMATION AND EDUCATION CAMPAIGN
Kicking off its series of roadshows and roundtable discussions in Mindanao, the IEMOP held a successful dialogue with the stakeholders of the Mindanao power industry within November and December 2019.
A year after taking over the WESM operations, IEMOP continues its commitment to provide efficient and reliable market services and management by ensuring that its participants are well-equipped upon joining the WESM.
In line with the upcoming launch of WESM in Mindanao, the conduct of an information and education campaign to provide operation updates and highlight the benefits of trading and participating in the WESM is considered valuable to ensure inclusive growth in the power industry.
- CONTINUOUS WESM OPERATIONS AMIDST THE PANDEMIC
In response to the community quarantines imposed due to the COVID-19 Pandemic, IEMOP has implemented its Business Continuity Management System which involves the conduct of impact assessments, risk identification and risk mitigation plans, execution of IEMOP Re-entry Plan and Business Continuity Plan, among others. This guaranteed the 24×7 business-as-usual market operations while adhering to the necessary health and safety protocols.
- CERTIFICATION OF THE NEW MARKET MANAGEMENT SYSTEM (NMMS) AND THE CENTRAL REGISTRATION AND SETTLEMENT SYSTEM (CRSS)
In June 2020, IEMOP has received all audit certifications for the new market systems, taking it one step closer to the implementation of Enhanced WESM Design and Operations on 26 December 2020.
- FAST-FORWARD TO FIVE. ENHANCED WESM DESIGN AND OPERATIONS PARALLEL OPERATIONS PROGRAM (POP) AND WESM MINDANAO TRIAL OPERATIONS PROGRAM (TOP)
WESM has officially kicked off with the “Fast Forward to Five” campaign which is composed of a series of informative content and activities that are aimed to capture and re-engage the market participants. Under this campaign, IEMOP has released a number of infographics and videos in its social media pages for the consumption of the public particularly the participants. Focus Group Discussions (FGDs) were also held last June and August to apprise the participants on the preliminary guidelines, pertinent reports, as well as the completed and remaining activities in preparation for the Go-Live target date on 26 December.
In addition to this, an EWDO POP Hub was made within the new website wherein the participants can access informative content and test cases related to the POP and TOP activities.
- APPROVAL OF RULES CHANGE PROPOSALS
At the start of June 2020, the Department of Energy (DOE) promulgated circulars approving four (4) WESM rules change proposals submitted by IEMOP. In total, IEMOP has submitted twenty-one (21) rules change proposals and has obtained approval from the DOE for five (5) of them. The remaining sixteen (16) rules change proposals have been subjected to public consultation by the DOE and are awaiting decision.
- IEMOP MARKET INFORMATION DATABANK (MIND)
IEMOP launched its Market Information Databank (MIND) in July 2020, a cloud-based data repository service which allows market participants to download market data from the latest three (3) years on-demand.
- ANCILLARY SERVICES TECHNICAL WORKING GROUP (AS-TWG)
IEMOP continues its efforts towards the implementation of the competitive spot market for reserves in its participation in the DOE’s AS-TWG. IEMOP presented several studies to the members of the AS-TWG, which is composed of representatives from all sectors of the power industry as well as the DOE and the regulator, in August 2020 to provide the members better appreciation of the targeted reserve market.