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The Philippine Electricity Market Corporation (PEMC) made major changes in its organizational composition after the company?s Annual General Membership Meeting (AGMM) last week. The Chief Governance Officer (CGO) position, previously held by appointed President of the National Transmission Corporation (TransCo), Fortunato C. Leynes, was abolished.

During the last board meeting, the PEMC Board of Directors re-examined the corporate structure of PEMC. Based on the company by-laws, ?the President shall organize and supervise work groups" which is comprised of the PEM Audit Committee (PAC), Market Surveillance Committee (MSC), Technical Committee (TC), Rules Change Committee (RCC), Dispute Resolution Administrator (DRA), and Compliance Committee (CC). PEMC by-laws do not specify any provision for the establishment of the Office of the Chief Governance Officer (OCGO) since the inception of a two (2)-entity set-up in the Wholesale Electricity Spot Market (WESM). This led to the PEM Board to delegate the newly elected President with the authority to be the representative of the board in matters of governance.As a consequence of this decision, the OCGO was dissolved, and all the functions of that office transferred to the President whose new title will be President and WESM Governance Officer of PEMC.
 
"The merger of the functions of both offices is a positive development because it will streamline the layer of governance. It will also be seamless since I held the function of the CGO when I joined PEMC in 2021 before I became the President. This is just a consolidation of both functions over which I am very much familiar with," President Nidea said.

The CGO plays a critical role in PEMC as the governing body of the WESM. The primary functions of the Enforcement Compliance Office (ECO) and the Market Assessment Group (MAG), two (2) main divisions of the company under its control, are vital in the governance of the electricity spot market.

The elected PEM Board, along with the new members, were also given board committee assignments. 

PEMC Board Committees

* Board Audit Committee

• Dir. Jesus L. Arranza Chairperson
• Dir. Allan L. Laniba
• Dir. Jovel B. Ubay-Ubay
• Dir. Vicente C. Sioson
• Dir. Victor Emmanuel B. Santos, Jr.

* Board Finance Committee

• Dir. Elenita D. Go Chairperson
• Dir. Antero Jose M. Caganda
• Pres. Elvin Hayes E. Nidea
• Dir. Richard J. Nethercott

* Board Legal Committee

• Pres. Elvin Hayes E. Nidea ? Chairperson
• Dir. Antero Jose M. Caganda
• Dir. Jose Ronald V. Valles
• Dir. Richard J. Nethercott
• Dir. Ronald Dylan P. Concepcion

* Board Review Committee

• Chairman Noel V. Aboboto Chairperson
• Dir. Danel C. Aboitiz
• Dir. Elenita D. Go
• Pres. Elvin Hayes E. Nidea

* Board Salary and Compensation Committee

• Dir. Victor Emmanuel B. Santos, Jr. Chairperson
• Dir. Allan L. Laniba
• Dir. Augusto D. Sarmiento
• Pres. Elvin Hayes E. Nidea
• Dir. Jovel B. Ubay-Ubay
• Dir. Richard J. Nethercott

* Board Selection Committee

• Chairman Noel V. Aboboto Chairperson
• Dir. Danel C. Aboitiz
• Pres. Elvin Hayes E. Nidea
• Dir. Jesus L. Arranza
• Dir. Juan Eugenio L. Roxas
• Dir. Ronald Dylan P. Concepcion

The Renewable Energy Market (REM) Governance Committee (RGC), which is one of the WESM Governance Committees (WGC) that serve as the preeminent governance support mechanism of the company composed of power sector experts, was given a change in leadership as a newly elected independent director was appointed as its chairperson.Dir. Antero Jose M. Caganda is the new Chairperson of the RGC, while its former Chairperson, Dir. Jesus L. Arranza, was transferred to the corporation's Retirement Committee as a board representative along with Dir. Vicente C. Sioson.

WESM Governance Committees (WGC)

* Compliance Committee

• Peter Lee U Chairperson
• Alejandro C. Due¤asII
• Primo D. Lim

* Dispute Resolution Administrator

• Teodoro A.Y. Kalaw IV C/Arb

* Market Surveillance Committee

• Doroteo B. Aguila Chairperson
• Arthur N. Escalante
• Christian M. Orias
• Ferdinand P. Villareal
• Justin Ranier S. Chan

* PEM Audit Committee

• Francisco Leodegario R. Castro Chairperson
• Concepcion I. Tanglao
• Rossano C. Luga

* Rules Change Committee

• Jesusito G. Morallos Chairperson
• Carlito C. Claudio
• Cherry A. Javier
• Darryl Lon A. Ortiz
• Dixie Anthony R. Banzon
• Gian Karla C. Gutierrez
• Jordan Rel C. Orillaza
• Jose Roderick F. Fernando
• Kristoffer Monico S. Ng
• Mark D. Habana
• Nelson M. Dela Cruz
• Rachel Angela P. Anosan
• Russel S. Alabado
• Ryan S. Morales
• Virgilio C. Fortich, Jr.

* REM Governance Committee

• Dir. Antero Jose M. Caganda Chairperson (new)
• Anne E. Montelibano
• Elvin Hayes E. Nidea
• Jose Rommel C. Orillaza
• Lawrence S. Fernandez
• Maria Theresa C. Capellan
• Rene M. Fajilagutan

* Technical Committee

• Mario R. Pangilinan Chairperson
• Daniel H. Valeriano, Jr.
• Edwin N. Mosa
• Ermelindo R. Bugaoisan, Jr.
• Froilan J. Savet
• Jaime V. Mendoza
• Wilbert Rey D. Tarnate

PEMC in the News

DailyGuardian: PEMC reorganizes, Abolishes Chief Governance Officer Position