Electric coops buy less than 1% of energy from Imem-A A +A
Saturday, February 8, 2014
ELECTRIC cooperatives in Mindanao only bought less than one percent of energy from the Interim Mindanao Electricity Market (Imem) in its December 2013 billing period, according to Philippine Electricity Market Corporation (PEMC), the body authorized by the Department of Energy to handle Imem.
The Imem is a medium term and interim solution developed by the Department of Energy to address deficiency in Mindanao's power supply.
"The electricity market aims to draw out excess and available electricity from generators. The measure will allow the trade of excess energy in order to supply the tight demand," said Phillip C. Adviento, PEMC manager for training and communications, during the media briefing on Imem at the regional office of the Department of Energy.
He said distribution utilities (DU) only bought .08% from the Imem during the first billing period.
Based on the data they presented, this is only a small fraction of the offered electricity in the market. From December 3, 2013 to January 3, 2014 the average offer during peak hours was 124.9627 megawatts (MW) and 261.9174 MW during off peak hours.
In his presentation, PEMC operations and market development assistant manager Clares Loren C. Jalocon said the level of Imem offers was always more than sufficient to cover the power demand. The offers were mostly coming from Therma Marine Inc. (TMI), and Mapalad Power Corp. (MPC).
But Adviento said this doesn't mean the demand of electricity from Imem is low. According to him, DUs in Mindanao have already contracted 99 percent of their source of energy from contractors while energy from the Imem is only 1 percent. They only bought from the Imem when their supply is lower than consumers' demand.
He said by summer they are expecting more DUs to get electricity from Imem.
Total Imem energy sold in the market was approximately 3.92 gigawatt-hours with a weighted average price of P8,330 megawatt-hours or P8.33 kilowatt-hour.
As of February 3, 2104 91.94 percent or 57 of 62 mandated participants of Imem are already registered and are offering excess electricity to the market. Of the 61 expected voluntary participants, only 1.63 percent have been registered while of the six expected participants from service providers, only four or 66.67 percent have registered.
Imem was established through DOE department circular No. DC2013-01-0001 dated January 9, 2013 pursuant to DOE's mandate in ensuring reliability, quality, and supply of electric power under Republic Act No. 9136 also known as the Electric Power Industry Reform Act of 2001 or Epira.
Published in the Sun.Star Davao newspaper on February 08, 2014.