REGULATORS have partially lifted the suspension of reserve market settlements at the Wholesale Electricity Spot Market to allow power firms to recover some incurred costs.In a May 9 order, the Energy Regulatory Commission directed Philippine Electricity Market Corp. and the Independent Electricity Market Operator of the Philippines Inc. to allow the settlement of 30 percent of amounts for payment covering reserve market transactions for the March billing month.
The regulator last March 25 ordered the PEMC and IEMOP to suspend billing and settlement as both had yet to fully comply with requirements related to amendments to the price determination methodology of the WESM's co-optimized and reserve market.It noted that in a meeting last April 25, power generators claimed to have experienced financial constraints following the issuance of the March order, particularly with regard to continuously provide ancillary services .
Source: News Formal (newsformal.com)
Orders Partial Lifting Of Settlement Suspension
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