New rules set for Imem implementation-A A +A
Sunday, May 25, 2014
A NEW set of rules and regulations will be implemented for the Mindanao stakeholders, as the operation of Interim Mindanao Electricity Market (Imem) resumes next month.
The operations of Imem was on hold after a market intervention was implemented by the National Grid Corporation of the Philippines (NGCP) when the Mindanao-wide blackout hit the island on February 27, 2014, which also resulted in the forced offlining of the 210 megawatt Steag coal fired power plant.
Romeo Montenegro, Mindanao Development Authority (MinDA) director of investment promotions and public affairs, said in an interview that the suspension of Imem gave the opportunity to hold consultations on resolving certain Imem issues brought up by the stakeholders.
He said one of the new rules and regulations in the Imem implementation is that utilities are given up to three hours, before their requested capacity is dispatched, to amend, or cancel its nomination.
Another modification that they will be implementing is the introduction of the demand side bidding.
"Electric cooperatives [have the option] to set for themselves the rate or the price that they are willing to pay. They can nominate a certain capacity at a price that they wanted it to be made available," Montenegro said.
He said the electric cooperative can request not to have their nominated capacity delivered to them "if the price is higher than they have indicated" but they can buy their capacity at market price given that they are able to change their nomination before the dispatching of power supply.
Published in the Sun.Star Davao newspaper on May 26, 2014.