| Sat, 01 Oct 2022

RE Market

Market Development
Renewable Energy Market

The Philippine Renewable Energy Market (REM) is the venue for the trading of RE Certificates equivalent to an amount of power generated from RE resources, and is intended as a facility for Mandated Participants to comply with their Renewable Portfolio Standards (RPS) obligations. The RPS refers to a market-based policy that mandates electricity suppliers to source an agreed portion of their energy supply from eligible RE resources contributing to the growth of the RE industry in the country.

The Renewable Energy Act (R. A. 9513) or the RE Act is the legislation that provides for the establishment of the REM. Pursuant to Section 8 of the RE Act, the Department of Energy (DOE) shall establish the REM and shall direct the Philippine Electricity Market Corporation (PEMC) to incorporate changes to the Wholesale Electricity Spot Market (WESM) Rules for the operation of the REM under the WESM.

The objectives of the REM are to:

  • Establish a fair and transparent market for the trading of RECs

  • Facilitate compliance with RPS through mechanisms established under the REM Rules

  • Ensure level playing field for all REM participants

  • Ensure REC prices are governed as far as practicable by the fundamentals of supply and demand

  • Ensure that the prices of RECs are, in the long-term, reflective of the benefits of bringing an additional MWh of RE generation into the Philippine electricity system

  • Issue RECs only to actual RE generation from eligible RE generating facilities

Click here to learn more about the RE Market

For updates on the RE Market, you may download the latest REM Bulletin below:

REM Advisories
Title Description Date Published File Type Size
REM Advisory No. 2022-08 Issuance of April 2018 and May 2018 Renewable Energy Certificates (REC) 13 Sep 2022 PDF 124 KB
REM Advisory No. 2022-07 Review of January 2020 to December 2021 Input Data for Renewable Energy Certificate (REC) Issuance 09 Sep 2022 PDF 100 KB
REM Advisory No. 2022-06 FINAL CALL: Submission of Metered Quantity (MQ) of Voluntary RE Generators by the Host Distribution Utilities (DU) 26 Aug 2022 PDF 102 KB
REM Advisory No. 2022-05 Issuance of March 2018 Renewable Energy Certificates (REC) 09 Aug 2022 PDF 123 KB
REM Advisory No. 2022-04 Issuance of February 2018 Renewable Energy Certificates (REC) 18 Jul 2022 PDF 118 KB
REM Advisory No. 2022-03 Submission by the Host Distribution Utilities (DU) of Metered Quantity (MQ) of their Voluntary RE Generators 21 Jun 2022 PDF 428 KB
Eligible RE Facilities For RPS Compliance (31December2021) DOE List of Eligible RE Facilities for RPS Compliance as of 31 December 2021 30 Mar 2022 PDF 366 KB
REM Advisory No. 2022-02 Review of January 2019 to December 2019 Input Data for Renewable Energy Certificate (REC) Issuance 10 Mar 2022 PDF 427 KB
REM Advisory No. 2022-01 REM Advisory No. 2022-01: Submission of Metered Quantity (MQ) of Voluntary RE Generators (e.g. Net-Metered Facilities, Non- WESM Embedded Generators and RE Generation Facilities for Own Use) by the Host Distribution Utilities 07 Mar 2022 PDF 99 KB
REM Advisory No. 2021-11 REM Advisory No. 2021-11: Confirmation of January 2018 RECs for the Non- FiT Compliance Mechanism 09 Dec 2021 PDF 81 KB
REM Advisory No. 2021-12 REM Advisory No. 2021-12: Re-issuance of January 2018 Renewable Energy Certificates(REC) for the FiT Compliance Mechanism and FiT REC Validation Schedule 09 Dec 2021 PDF 169 KB
REM Advisory No. 2021-10 REM Advisory No. 2021-10: Review of April 2018 to December 2018 Data in the PREMS 19 Oct 2021 PDF 102 KB
REM Advisory No. 2021-09 REM Advisory No. 2021-09: Re-issuance of January 2018 Renewable Energy Certificates (RECs) for the Non-FiT Compliance Mechanism and Issuance Schedule 18 Oct 2021 PDF 222 KB
REM Advisory No. 2021-08 REM Advisory No. 2021-08: Review of January 2018 to March 2018 Data in the PREMS 11 Aug 2021 PDF 97 KB
Eligible RE Facilities For RPS Compliance (31May2021) DOE List of Eligible RE Facilities for RPS Compliance as of 31 May 2021 05 Aug 2021 PDF 323 KB
REM Advisory No. 2021-06 REM Advisory No. 2021-06: Updates on the January 2018 REC Issuance and REM Requirements 30 Jun 2021 PDF 102 KB
REM Advisory No. 2021-05 January 2018 Renewable Energy Certificates (RECs) Validation 15 Jun 2021 PDF 137 KB
REM Advisory No. 2021-04 Extended Deadline of Submission of the Renewable Energy Certificates (RECs) Validation Form 02 Jun 2021 PDF 136 KB
Eligible RE Facilities for RPS Compliance (31Mar2021) DOE List of Eligible RE Facilities for RPS Compliance as of 31 March 2021 31 May 2021 PDF 312 KB
REM Advisory No. 2021-03 REM Advisory No. 2021-03: Submission of Renewable Energy Certificate (REC) 25 May 2021 PDF 183 KB
REM Bulletin
Title Description Date Published File Type Size
REM Bulletin Issue No. 2 Updates on the Renewable Energy Market (REM) for Q2-Q3 2022 23 Sep 2022 PDF 1 MB
REM Bulletin Issue No. 1 Updates on the Renewable Energy Market (REM) for Q1 2022 18 Apr 2022 PDF 645 KB