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Celebrating two (2) decades of empowering the Philippine power sector, the Philippine Electricity Market Corporation (PEMC) marked the 20th anniversary of the Wholesale Electricity Spot Market (WESM) during the Market Participants’ Townhall (MPT) 2026 at Solaire Resorts North. The milestone event brought together industry leaders, policymakers, and market participants to reflect on WESM’s evolution as a driver of transparency, competition, and stability in the energy market.

Delivering the keynote address, Department of Energy (DOE) Secretary Hon. Sharon S. Garin highlighted the vital role of market-driven analytics and close coordination between government agencies and market governance bodies during critical power crises. Secretary Garin emphasized that data modeling and simulations provided by the market served as an essential compass for drafting responsive policies to mitigate consumer impact during price surges.

Recalling the coordinated market response during a recent global oil volatility event, Secretary Garin showcased how market interventions successfully shielded electric consumers from severe price jumps:

"With that effort, with the whole energy family effort, we avoided at least a PHP 7 jump on the price of electricity... Although it hasn't been broadcasted since it did not happen—which is a good thing that the jump did not happen... these efforts, collaboration, and exchange of ideas, and just a common concern for our consumers, avoided this big jump on electricity prices."

Secretary Garin further explained that during the oil crisis, the DOE and Energy Regulatory Commission (ERC), in consultation with market governance units, directed a temporary market suspension to optimize dispatch towards cheaper power sources, such as renewable energy, thereby shielding consumers from abrupt electricity rate hikes.

As WESM enters its third decade, PEMC reaffirms its commitment to serving as a robust governance arm—continuously adapting market mechanisms, enhancing policy simulations, and fostering public-private collaboration to support long-term energy security and fair electricity prices across the country.

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