Spot market trading resumes for Visayas network excluding Bohol
SPOT MARKET trading on the Visayas network, excluding Bohol, resumed after the regulator deemed the region’s load level sufficient to sustain a market.
“The commission ordered the Philippine Electricity Market Corporation-Market Operator (PEMC-MO) to resume operations of the Wholesale Electricity Spot Market (WESM) in the Visayas grid, excluding Bohol, effective January 17,” the Energy Regulatory Commission (ERC) said in a statement on Wednesday.
The ERC had suspended spot market trading for the Visayas network on December 16, due to oversupply conditions following Typhoon Odette.
The administered price of 5.27 pula per kilowatt hour was also in effect during the suspended periods.
“We have been closely monitoring and assessing the condition of the Visayas grid and after evaluating information gathered from constant PEMC-MO coordination and with the National Grid Corp. of the Philippines-Visayas system operator, the Commission believes that market operations in the Visayas Grid, with the exception of Bohol, is now ready to resume,” said ERC President and CEO Agnes VST Devanadera, in a statement.
According to the network operator, since January 16, the islands of Panay and Samar derive 100% of their electricity demand from the network; Negros’ electrical load is 95%, Leyte’s is 89% and Cebu’s is 73%.
Bohol draws only 20% of electricity from the grid.
“In addition to this, with the energizing of 138 KV Colon – Calung-calung Line 2 and 138 KV Colon – Cebu Line 3, it has been assessed that the market-based instructions in the region are achievable, signaling the desire to take over the market. operations in the Visayas excluding Bohol,” ERC said.
The commission also said that Bohol may experience power generation shortfalls as electricity cannot be exported to the province from other regions. — Marielle C. Lucenio