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Wednesday, October 19, 2005
Electricity spot market for Visayas to start trial 3 mos. ahead of target
The Philippine Wholesale Electricity Spot Market (WESM) will launch today its trial operations in the Visayas.
This is three months ahead of the scheduled start of trial operations, said WESM president Lasse Holopainen in a statement.
Trial operations for the WESM in Luzon have been ongoing since April 2005.
“The early start of trial operations in the Visayas does not mean that we will be advancing the commercial operations date of the WESM in the Visayas, which we anticipate to happen by June next year,” Holopainen said. “Since we have freed up resources, we believe that starting the Visayas trials early will allow for more thorough preparation for the Visayas participants.”
Become familiar
The trial operations will allow future participants to become familiar with and fully test the WESM operations in a real-time environment.
Luzon Trial participants represent more than 10,000 megawatts (mw) of generation and 5,000 mw of demand from distributors and other large users of electricity. Potential Visayas participants represent over 1,000 mw of installed generating capacity and demand.
The trials are also open for potential participants who are still in the process of registering for participation in the WESM, as well as observers from other stakeholders, economists and analysts and other groups.
The trials are anticipated to run for a minimum of six months.
Through the course of the test period, the program will allow participants to test the various trading processes, including supply and demand bidding, scheduling and pricing, and eventually, metering and settlements.
More accurate
The program aims to familiarize and fully train the local participants on the use of the WESM market management system and rules and operating procedures.
“We learned a lot during the Luzon trials, so we expect that the Visayas participants will benefit from this through more accurate forecasting, less system bugs and overall better analyses of the electricity pricing responsiveness,” Holopainen said.
“The more involved the participants are, the better they become at trading on the market. The WESM, on the other hand, becomes a more robust market that benefits participants and consumers, through more efficient pricing, alike.” (LAP)
(October 19, 2005 issue)
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