By Alena Mae S. Flores – January 31, 2020 at 08:05 pm
Philippine Electricity Market Corp. on Friday assured that the transfer of the Wholesale Electricity Spot Market operations to the Independent Electricity Market Operator of the Philippines went through consultations, studies and relevant approvals.
PEMC said in a statement the IEMOP was created following the approval of a transition plan for the creation of the independent market operator, which was the result of a study and a series of consultations spearheaded by the PEMC Transition Committee created by the Energy Department.
PEMC made the statement in the wake of allegations of a “sweetheart deal” between the company, IEMOP and the department.
“The process did not happen overnight. The PTC organized dialogues with the market participants and industry stakeholders such as the ones conducted in Cebu in November 2017 and Davao in December of the same year,” said PEMC chairman and supply sector representative Noel Aboboto.