by Myrna Velasco, February 2, 2015
from Manila Bulletin
Within this year, the Wholesale Electricity Spot Market (WESM) may just no longer be a trading place for power as a commodity, but may also have value-added offering as training center or ‘spot market school’ complete with syllabus and course outline on electricity trading dynamics as well as on the industry’s policies and structures.
That has been based on the proposed WESM Accreditation Program being pursued by market operator Philippine Electricity Market Corporation (PEMC) in collaboration with the Department of Energy.
Under the proposed rules that will likely be firmed up by a Department Circular (DC) to be issued by the DOE, it was emphasized that “WESM accreditation is mandatory for all professionals who are engaged as WESM traders by a WESM member.”
Nevertheless, it was noted that “WESM accreditation is optional for other electric power trading who do not trade directly in the WESM, including but not limited to, electric power trading practitioners of any indirect WESM member trading participant.”
“The WESM accreditation program is proposed to be implemented in the second quarter of 2015 after the issuance of a DOE-DC authorizing PEMC as the accreditation body for the WESM accreditation program,” a concept paper issued by the energy department has stipulated.
It added that consultation with stakeholders will be undertaken on the accreditation parameters as well as on the implementing guidelines due for issuance this month.
Part of the course outline will be on: introduction to WESM; scheduling and pricing; trading operations; as well as WESM billing and settlements. There shall also be written exercises and hands-on training for participants.
On the policy sphere, the course topics and training module shall delve with: Retail Competition and Open Access (RCOA); WESM Fundamentals; Introduction to RCOA and RCOA Fundamentals; RCOA Processes; and Other RCOA-related Processes, Transitory Provisions and Information Technology (IT) system; and Reserve Market Training.
As laid down, the accreditation body to be led by PEMC “will offer the Accreditation Exam for WESM accreditation on an annual basis, or on a regular interval as may be approved.”
The certificate of WESM accreditation, it was stated, will be valid for one year from effectivity date. The certified individual can then apply for re-accreditation, but after two renewals, it was prescribed that “a re-examination will be required on the following year.”