| Mon, 22 Jul 2024

Market Surveillance

Market Governance
Market Surveillance

The Philippine Electricity Market Board of Directors (PEM Board) oversees and monitors the activities of WESM Members to ascertain and determine compliance or non-compliance with the WESM Rules.

The Market Surveillance Committee (MSC) provides assistance to the PEM Board by way of its monitoring and assessment on the activities of market participants to ensure efficiency and competitiveness in the wholesale and retail markets. In the performance of its surveillance function, the MSC submits periodic Market Monitoring Reports and Retail Market Monitoring Reports to the PEM Board, DOE and ERC, the bases of which are the Catalogue of Market Monitoring Data and Indices (CMMDI) and Catalogue of Retail Market Monitoring Data and Indices (CRMMDI), both of which are promulgated by the MSC.

Clause 1.6.3 of the WESM Rules also provides that the MSC will design and review the levels and range of penalties as set forth in the WESM Penalty Manual which is subject to the approval of the DOE.