| Mon, 06 Jul 2020

WESM History Timeline

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WESM History Timeline

2003 November

The Philippine Electricity Market Corporation (PEMC) was incorporated as a non-stock, non-profit corporation registered with the Securities and Exchange Commission (SEC).

2003 November

The Philippine Electricity Market Corporation (PEMC) was incorporated as a non-stock, non-profit corporation registered with the Securities and Exchange Commission (SEC).

2004 March

The Wholesale Electricity Spot Market (WESM) Project commenced.

2004 March

The Wholesale Electricity Spot Market (WESM) Project commenced.

2005 April

The Luzon Trial Operations Program (TOP) began in anticipation of the commencement of the WESM. The TOP was completed that year in December.

2005 April

The Luzon Trial Operations Program (TOP) began in anticipation of the commencement of the WESM. The TOP was completed that year in December.

2006 June

The WESM officially started Commercial Operations on 26 June 2006.

2006 June

The WESM officially started Commercial Operations on 26 June 2006.

2007 October

The WESM Visayas TOP commenced.

2007 October

The WESM Visayas TOP commenced.

2010 December

The Visayas grid was integrated into the WESM and began Commercial Operations on 26 December 2010.

2010 December

The Visayas grid was integrated into the WESM and began Commercial Operations on 26 December 2010.

2013 June

Retail Competition and Open Access (RCOA) was implemented on 26 June 2013.

2013 June

Retail Competition and Open Access (RCOA) was implemented on 26 June 2013.

2013 September

PEMC declared the start of the Interim Mindanao Electricity Market (IMEM), a medium-term and interim solution meant to address the deficiency of the supply in Mindanao.

2013 September

PEMC declared the start of the Interim Mindanao Electricity Market (IMEM), a medium-term and interim solution meant to address the deficiency of the supply in Mindanao.

2015 December

PEMC operationalized the Central Scheduling and Dispatch of Energy and Contracted Reserves

2015 December

PEMC operationalized the Central Scheduling and Dispatch of Energy and Contracted Reserves

2016 January

The Preferential Dispatch for Renewable Energy Resources was integrated into the WESM.

2016 January

The Preferential Dispatch for Renewable Energy Resources was integrated into the WESM.

2017 June

WESM Mindanao was launched.

2017 June

WESM Mindanao was launched.

2018 February

PEMC conducted a Special Membership Meeting to approve the IMO Transition Plan in accordance with the policy issued by the Department of Energy (DOE).

2018 February

PEMC conducted a Special Membership Meeting to approve the IMO Transition Plan in accordance with the policy issued by the Department of Energy (DOE).

2018 May

The Independent Electricity Market Operator of the Philippines (IEMOP) was incorporated.

2018 May

The Independent Electricity Market Operator of the Philippines (IEMOP) was incorporated.

2018 June

PEMC conducted the Annual General Membership Meeting where the DOE Secretary stepped down as the Chairman of the PEM Board of Directors and a new Board was elected.

2018 June

PEMC conducted the Annual General Membership Meeting where the DOE Secretary stepped down as the Chairman of the PEM Board of Directors and a new Board was elected.

2018 September

PEMC and IEMOP signed the Operating Agreement appointing the latter to manage the daily operations of the WESM.

2018 September

PEMC and IEMOP signed the Operating Agreement appointing the latter to manage the daily operations of the WESM.