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Overview of Wholesale Electricity Spot Market

The Wholesale Electricity Spot Market (WESM) is a marketplace established in 2001 as part of the Electric Power Industry Reform Act where electricity is traded as a commodity. WESM aims to lower electricity costs through transparency and competition replacing the previous monopoly system. It provides consumers with choices and control over their electricity. The Philippine Department of Energy and industry participants established WESM which is managed by the Philippine Electricity Market Corporation serving as the market operator. WESM began commercial operations in Luzon and later expanded to Visayas and Mindanao.

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AngelaCabiaoCaliwag
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54 views1 page

Overview of Wholesale Electricity Spot Market

The Wholesale Electricity Spot Market (WESM) is a marketplace established in 2001 as part of the Electric Power Industry Reform Act where electricity is traded as a commodity. WESM aims to lower electricity costs through transparency and competition replacing the previous monopoly system. It provides consumers with choices and control over their electricity. The Philippine Department of Energy and industry participants established WESM which is managed by the Philippine Electricity Market Corporation serving as the market operator. WESM began commercial operations in Luzon and later expanded to Visayas and Mindanao.

Uploaded by

AngelaCabiaoCaliwag
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Caliwag, Angela C.

2016

August 16,

2012108262
Vallestero

Prof.
Wholesale Electricity Spot Market

Wholesale Electricity Spot Market (WESM) is a location for trading electricity


as a commodity. It facilitates a transparent and competitive electricity market for
the country aiming to reduce the cost to a price lower than they would have been
and to end the monopoly system by providing the consumers with the choice of
power and the power of choice. WESM is a part of Electric Power Industry Reform
Act (EPIRA) of 2001 that was established by the Philippine Department of Energy
together with the electric power industry participants. Its preparations and initial
operation was managed by the Philippine Electricity Market Corporation (PEMC)
which serves as the Autonomous Group Market Operator (AGMO). WESM begins
commercial operations in the Luzon grid, after several months of trial operations,
followed by the operation of Visayas grid after four years DOE also ordered the
operation of WESM in Mindanao to resolve the supply shortage in the region.

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