To effect transparency in pricing, a Wholesale Electricity Spot Market (WESM) in Mindanao is being planned, but it should come after the commercial operations of the one proposed for Visayas.

Philippine Electricity Market Corporation (PEMC) acting president Melinda L. Ocampo said they are currently working on a timeframe when to finally steer the Visayas-WESM into commercial commissioning.

“We are also planning a WESM in Mindanao, but mainly to effect transparency in electricity pricing,” she noted.

The Luzon-WESM, she noted, is currently facing an interesting transition for the transfer of its operations into the hands of an Independent Market Operator. As Ocampo sees it, the private operator may take over the electricity spot market by next year.

For the Visayas market, she acknowledged that prices may go up during initial phases of trading, but she has been assuring stakeholders that mitigating measures are being explored so it will not trigger price shocks to consumers. (MMV)