PEMC, EMC ink cooperation pact

by Lenie Lectura – December 12, 2015

from Business Mirror

THE Philippine Electricity Market Corp. (PEMC) and Singapore-based Energy Market Co. (EMC) signed a cooperation agreement to deliver timely innovations and industry developments.

The agreement aims to establish the framework and reinforce existing cooperation and open new avenues toward a more effective and greater collaboration in order to achieve the objectives of the Philippine Wholesale Electricity Spot Market and the National Electricity Market of Singapore. The agreement was signed on Friday during the Philippine Electricity Summit (PES) 2015.

“This year’s PES 2015 is truly significant. PEMC’s commitment in putting forward the discussion on topics on electricity through this confab is unprecedented, as we have invited reputable speakers to share their expertise in various fields,” said PEMC President Melinda L. Ocampo.

“In this summit, we hope to promote collaboration and synergy, as the Philippine power industry readies itself in the Asean economic integration,” Ocampo added.

Energy Secretary Zenaida Monsada said PEMC and EMC have identified areas of mutual interest and shall assist each other in conducting trainings and seminars, advising on technical and commercial issues, information exchange and effective knowledge management in exploring opportunities for the immediate revolution of both markets.

“We hope that the sharing of knowledge and best practices in operating energy markets, we will be able to develop a stronger and a more reflective electricity market that will attract customers and suppliers alike,” Monsada said.

PEMC, in partnership with the National Grid Corp. of the Philippines, hosts this year’s PES.

The summit’s theme, “Powering Cross-Border Synergies,” is set against the backdrop of the Association of Southeast Asian Nations (Asean) Economic Community (AEC) Declaration to commence on December 31, 2015.

The PES 2015 examines the impact of the Asean economic integration into the power sector, with focus on two areas: Asean power grid and the role of gas in power generation.

The global energy outlook by the International Energy Agency highlights the challenges and actions on how energy can play a pivotal role in climate-change mitigation. Within the local context, best practices in the co-optimization of energy and reserve markets are presented in ensuring energy security in the country. Also, the study on the shift of the Philippine electricity bourse from an interim board to an independent board, as provided by legislation, is in the agenda.