The Department of Energy is set to launch the Wholesale Electricity Spot Market (WESM) in Mindanao this June, its spokesperson has said.
The department has been laying the groundwork to deliver quality, reliable, secure and affordable electricity to Mindanao through the WESM, Energy Undersecretary Felix William Fuentebella said during a presentation on WESM in Cagayan de Oro City.
Likening the spot market to “a dating place”, Fuentebella said it is where “the demand and supply of electricity meet so that there will be increased efficiency in the use of energy”.
”Fairness and transparency. These are the bedrock of the rules to have a level playing field for the good energy participants to shine,” he said in a news release issued Tuesday.
He noted that the WESM mechanism will bring more flexibility and progress, and enhance the consumers’ power of choice.
Energy Secretary Alfonso Cusi has since January been spearheading the DOE’s activities in Mindanao because he wants the island to level up, the spokesperson said, adding that they have already conducted consultations on the launch of WESM in Mindanao through trial operations.
“The real commercial operations will depend on the readiness criteria of the industry players here in Mindanao,” said Fuentebella. (PNA)
