Nominations now accepted for membership to power spot market committees

The Philippine Electricity Market Corp. (PEMC) will start accepting nominations for membership in three committees of the Wholesale Electricity Spot Market (WESM) today. 

The committees will be directly involved in the development of the spot market and its overall governance, and shall be under the supervision of the Philippine Electricity Market (PEM) board. 

The first nomination round is intended to recruit qualified members for the committees on market surveillance, dispute resolution administrator, panel and rules change. 

The market surveillance committee, to be comprised of five members, will be tasked to monitor the trading activity of WESM trading participants, to ensure compliance to WESM rules and fair competition in the market. 

The dispute resolution administrator, and panel to be comprised of seven members, will act as an arbitration panel for the resolution of any issues arising between participants. 

The rules change committee, has been reconstituted from the original technical working group (TWG), and will be comprised of 15 members. Twelve members have been drawn from the former TWG participants. Nominations are being solicited for the three members who should be independent of the power industry. 

According to PEMC, anyone may nominate a candidate for committee membership.  

But PEMC pointed out that only nominees that have no direct stake in any WESM participant and are independent of the electricity industry will be considered. Self-nominations will be considered. The PEM board shall be responsible for choosing the successful candidates.

Successful nominees are expected to be able to dedicate sufficient time to attend the fortnightly committee meetings, and any special meetings called by the committee chairperson and willing to undertake a week-long training program on the operations of the WESM and the role of these committees.  Further details and nomination forms are available on the WESM website (www.wesm.ph).

PEMC is the governing body of the WESM and is headed by a 15-man board, with a balanced representation of stakeholders. Once operational, all of the country’s electricity will be coursed through the WESM.