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The Independent Electricity Market Operator of the Philippines, Inc. (IEMOP) is a private, non-stock, non-profit corporation that functions as the market operator of the Wholesale Electricity Spot Market (WESM).[1] It assumed WESM operations in September 2018.[1] IEMOP's board of directors is composed of individuals independent from the power industry stakeholders and the government as mandated by the Electric Power Industry Reform Act (EPIRA).
Independent Electricity Market Operator of the Philippines
IEMOP was incorporated in May 2018 upon the initiative of the Department of Energy (DOE) and the Philippine Electricity Market Corporation (PEMC) to be the Independent Market Operator (IMO) of the WESM.[2] This is pursuant to Section 30 of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001 (EPIRA).[3] The establishment of an IMO was further reiterated in the Implementing Rules and Regulations of the EPIRA Rule 9, Section 6(a).[4]
Historyedit
The Philippine Electricity Market Corporation (PEMC) operated the WESM as the Market Operator until the transition to the IMO.
The transition to the Independent Market Operator (IMO) was implemented in 2018 upon the following issuances and actions. These two actions consist of the joining endorsement of the DOE and the electric power industry participants of the transition to an independent entity to become the IMO and transfer it to the market operator functions, assets, and liabilities from PEMC.
Promulgation by the DOE of its Circular No. DC2018-01-0002 (17 January 2018)[5] entitled "Adopting Policies for the Effective and Effective and Efficient Transition to the Independent Market Operator for the Wholesale Electricity Spot Market"
Adoption by the Philippine Electricity Market Board and the general membership of the Philippine Electricity Market Corporation (PEMC) of the "Plan for Transition to the Independent Market Operator of the Wholesale Electricity Sport Market". This was adopted in a Special Membership Meeting of PEMC specially called for the purpose on 6 February 2019. The PEM Board and the PEMC membership, registered members of the WESM, represented the electric power industry participants.
Pursuant to the DOE Circular and IMO Transition Plan, an entity that is separate from PEMC and with no interest from any electric power industry participant was formed to become the IMO.[6] This separate is the Independent Electricity Market Operator of the Philippines Inc. (IEMOP). IEMOP was incorporated under the Corporation Code of the Philippines as a private non-stock, non-profit corporation.[7]
Formation of the IMO and Organization of WESM Governing Bodyedit
In implementing the transition, the DOE Circular No. DC2018-01-0002[8] called for, among other things, (a) the formation of the IMO and (b) for PEMC to remain as the governance arm or body of the WESM.
The IMO is directed to be an entity, formed separate from PEMC and incorporated as a private corporation under the Corporation Code of the Philippines. It is further directed that no electric power industry participant shall hold any interest, whether directly or indirectly, in the IMO. It is to operate the integrated WESM and retail market on a non-profit basis.
The Circular further directed that PEMC shall remain to be the WESM governing body and shall perform its functions as set out in the WESM Rules and market manuals. Its Board of Directors, be the Philippine Electricity Market Board (PEM Board), and the various governance committees shall perform their functions as set out in the rules.
Incorporation of the IEMOP as IMOedit
Pursuant to the above-described guidelines set out in the DOE Circular and implemented in the IMO Transition Plan, an entity that is separate from PEMC and with no interest from any electric power industry participant was formed to become the IMO.[9][circular reference]
This separate is the Independent Electricity Market Operator of the Philippines Inc. (IEMOP). IEMOP was incorporated under the Corporation Code of the Philippines as a private non-stock, non-profit corporation. IEMOP was incorporated with the Primary Purpose, as follows:
Manage and operate the market for the wholesale purchase of electricity and ancillary services in the Philippines (the Wholesale Electricity Spot Market) and engage in services related to the same, in accordance with Republic Act No. 9136 including its implementing rules and regulations, the rules promulgated to govern the operations of the WESM (the “WESM Rules”), including their respective amendments and such other laws, rules and regulations which may be enacted hereafter that shall govern the WESM, and in an efficient, competitive, transparent and reliable manner, with the end in view of improving the trading, delivery and provision of electricity and ancillary services to the Philippine Electric Power Industry Participants.[10]
Nature and Qualifications of IEMOPedit
Separate and Independent Entity.
Separate entity. Pursuant to the EPIRA that calls for the formation of an independent entity, IEMOP was incorporated separate from and is not affiliated with PEMC or any other electric power industry participants. Neither is it organized as a and controlled corporation|Government-Owned and Controlled Corporation (GOCC). IEMOP is thus separate and independent from any electric power industry participants and from the government.
No interest from electric power industry participants. The formation of IEMOP complied with the requirements of the EPIRA Implementing Rules and Regulations (EPIRA-IRR) that expressly provide that no generation company, IPP administrator, distribution utility, or supplier shall have any interest, directly or indirectly, in the Market Operator. The corporation was incorporated by individuals that were independent of both the electric power industry participants and the government.
Independent Board of Directors and Membership. In compliance likewise with the guidelines set out in the DOE Circular, all the members of the Board of Directors are independent of both the electric power industry participants and the government. The specific criteria for independence is set out in the DOE Circular and is adopted into the By-Laws of IEMOP. The Board of Directors of IEMOP, who are all required to be independent, make up the membership of the corporation as a non-stock, non-profit corporation. As such, IEMOP itself as a corporation is independent of both the electric power industry participants and the government. There is no electric power industry participant or any of their affiliates that have any interest, directly or indirectly, with IEMOP.
Technical and Financial Capability.
Technical Capability. The IEMOP[11] is staffed with former personnel from PEMC with experience in the market operations, pursuant to the DOE Circular requirement that all necessary personnel with experience in market operations shall be transferred from PEMC to IEMOP. Collectively, the personnel that were transferred from PEMC to IEMOP have been responsible for the day-to-day operations of the WESM since its commercial operations, and thus, brought with them the necessary expertise in market operations.
Financial Capability. The WESM Rules require that the Market Operator operate the WESM on a non-profit basis. Meanwhile, the cost for the administration and operation of the WESM is directed by the EPIRA to be recovered from market fees or charge that will be imposed and collected from market participants. This effectively guarantees the financing of the operations of the WESM.
Current Leadershipedit
To date, here are the current members of the IEMOP's board of directors:[12]
Lt. Gen. Ralph A. Villanueva (Ret.) – Chairman
Atty. Richard J. Nethercott – Director
Atty. Carroll U. Tang – Director / Corporate Secretary
Engr. Jose Mari T. Bigornia – Director
Engr. Jose Rodelio V. Mangulabnan – Director
MGen. Vicente M. Porto (Ret.) – Director / Treasurer
independent, electricity, market, operator, philippines, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, orphan, other, articles, link, please, introduce. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article is an orphan as no other articles link to it Please introduce links to this page from related articles try the Find link tool for suggestions February 2022 A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page July 2021 Learn how and when to remove this template message Learn how and when to remove this template message The Independent Electricity Market Operator of the Philippines Inc IEMOP is a private non stock non profit corporation that functions as the market operator of the Wholesale Electricity Spot Market WESM 1 It assumed WESM operations in September 2018 1 IEMOP s board of directors is composed of individuals independent from the power industry stakeholders and the government as mandated by the Electric Power Industry Reform Act EPIRA Independent Electricity Market Operator of the PhilippinesIndustryEnergyFoundedMay 15 2018 5 years ago 2018 05 15 HeadquartersPasig PhilippinesArea servedPhilippinesKey peopleRalph A Villanueva ChairmanRichard J Nethercott President and CEOWebsitewww wbr iemop wbr ph Contents 1 Legal Basis 2 History 3 Formation of the IMO and Organization of WESM Governing Body 4 Incorporation of the IEMOP as IMO 5 Nature and Qualifications of IEMOP 6 Current Leadership 7 Management Team 8 ReferencesLegal Basis editIEMOP was incorporated in May 2018 upon the initiative of the Department of Energy DOE and the Philippine Electricity Market Corporation PEMC to be the Independent Market Operator IMO of the WESM 2 This is pursuant to Section 30 of Republic Act No 9136 otherwise known as the Electric Power Industry Reform Act of 2001 EPIRA 3 The establishment of an IMO was further reiterated in the Implementing Rules and Regulations of the EPIRA Rule 9 Section 6 a 4 History editThe Philippine Electricity Market Corporation PEMC operated the WESM as the Market Operator until the transition to the IMO The transition to the Independent Market Operator IMO was implemented in 2018 upon the following issuances and actions These two actions consist of the joining endorsement of the DOE and the electric power industry participants of the transition to an independent entity to become the IMO and transfer it to the market operator functions assets and liabilities from PEMC Promulgation by the DOE of its Circular No DC2018 01 0002 17 January 2018 5 entitled Adopting Policies for the Effective and Effective and Efficient Transition to the Independent Market Operator for the Wholesale Electricity Spot Market Adoption by the Philippine Electricity Market Board and the general membership of the Philippine Electricity Market Corporation PEMC of the Plan for Transition to the Independent Market Operator of the Wholesale Electricity Sport Market This was adopted in a Special Membership Meeting of PEMC specially called for the purpose on 6 February 2019 The PEM Board and the PEMC membership registered members of the WESM represented the electric power industry participants Pursuant to the DOE Circular and IMO Transition Plan an entity that is separate from PEMC and with no interest from any electric power industry participant was formed to become the IMO 6 This separate is the Independent Electricity Market Operator of the Philippines Inc IEMOP IEMOP was incorporated under the Corporation Code of the Philippines as a private non stock non profit corporation 7 Formation of the IMO and Organization of WESM Governing Body editIn implementing the transition the DOE Circular No DC2018 01 0002 8 called for among other things a the formation of the IMO and b for PEMC to remain as the governance arm or body of the WESM The IMO is directed to be an entity formed separate from PEMC and incorporated as a private corporation under the Corporation Code of the Philippines It is further directed that no electric power industry participant shall hold any interest whether directly or indirectly in the IMO It is to operate the integrated WESM and retail market on a non profit basis The Circular further directed that PEMC shall remain to be the WESM governing body and shall perform its functions as set out in the WESM Rules and market manuals Its Board of Directors be the Philippine Electricity Market Board PEM Board and the various governance committees shall perform their functions as set out in the rules Incorporation of the IEMOP as IMO editPursuant to the above described guidelines set out in the DOE Circular and implemented in the IMO Transition Plan an entity that is separate from PEMC and with no interest from any electric power industry participant was formed to become the IMO 9 circular reference This separate is the Independent Electricity Market Operator of the Philippines Inc IEMOP IEMOP was incorporated under the Corporation Code of the Philippines as a private non stock non profit corporation IEMOP was incorporated with the Primary Purpose as follows Manage and operate the market for the wholesale purchase of electricity and ancillary services in the Philippines the Wholesale Electricity Spot Market and engage in services related to the same in accordance with Republic Act No 9136 including its implementing rules and regulations the rules promulgated to govern the operations of the WESM the WESM Rules including their respective amendments and such other laws rules and regulations which may be enacted hereafter that shall govern the WESM and in an efficient competitive transparent and reliable manner with the end in view of improving the trading delivery and provision of electricity and ancillary services to the Philippine Electric Power Industry Participants 10 Nature and Qualifications of IEMOP editSeparate and Independent Entity Separate entity Pursuant to the EPIRA that calls for the formation of an independent entity IEMOP was incorporated separate from and is not affiliated with PEMC or any other electric power industry participants Neither is it organized as a and controlled corporation Government Owned and Controlled Corporation GOCC IEMOP is thus separate and independent from any electric power industry participants and from the government No interest from electric power industry participants The formation of IEMOP complied with the requirements of the EPIRA Implementing Rules and Regulations EPIRA IRR that expressly provide that no generation company IPP administrator distribution utility or supplier shall have any interest directly or indirectly in the Market Operator The corporation was incorporated by individuals that were independent of both the electric power industry participants and the government Independent Board of Directors and Membership In compliance likewise with the guidelines set out in the DOE Circular all the members of the Board of Directors are independent of both the electric power industry participants and the government The specific criteria for independence is set out in the DOE Circular and is adopted into the By Laws of IEMOP The Board of Directors of IEMOP who are all required to be independent make up the membership of the corporation as a non stock non profit corporation As such IEMOP itself as a corporation is independent of both the electric power industry participants and the government There is no electric power industry participant or any of their affiliates that have any interest directly or indirectly with IEMOP Technical and Financial Capability Technical Capability The IEMOP 11 is staffed with former personnel from PEMC with experience in the market operations pursuant to the DOE Circular requirement that all necessary personnel with experience in market operations shall be transferred from PEMC to IEMOP Collectively the personnel that were transferred from PEMC to IEMOP have been responsible for the day to day operations of the WESM since its commercial operations and thus brought with them the necessary expertise in market operations Financial Capability The WESM Rules require that the Market Operator operate the WESM on a non profit basis Meanwhile the cost for the administration and operation of the WESM is directed by the EPIRA to be recovered from market fees or charge that will be imposed and collected from market participants This effectively guarantees the financing of the operations of the WESM Current Leadership editTo date here are the current members of the IEMOP s board of directors 12 Lt Gen Ralph A Villanueva Ret Chairman Atty Richard J Nethercott Director Atty Carroll U Tang Director Corporate Secretary Engr Jose Mari T Bigornia Director Engr Jose Rodelio V Mangulabnan Director MGen Vicente M Porto Ret Director Treasurer Fernando T Aldaba Phd DirectorManagement Team editTo date here are IEMOP s Management Team 12 Atty Richard J Nethercott President and Chief Executive Officer Engr Robinson P Descanzo Vice President and Chief Operating Officer Atty Sheryll M Dy Head Legal Department Mr Salvador D Subaran Head Information Systems and Technology Department Engr Isidro E Cacho Jr Head Corporate Strategy and Communications Engr Arthur P Pintado Head Internal Audit Department Ms Mary Anne T Santiago Senior Manager Controllership DivisionReferences edit a b Flores Alena January 21 2020 DOE defends appointment of IEMOP as new WESM operator The Manila Standard WESM PDF ERC Republic Act 9136 PDF RULES AND REGULATIONS TO IMPLEMENT REPUBLIC ACT NO 9136 ENTITLED ELECTRIC POWER INDUSTRY REFORM ACT OF 2001 PDF DOE Circular 2018 01 0002 PDF Domingo Ronnel January 31 2020 WESM operator We re the only experts in the field The Philippine Inquirer Corporation Code of the Philippines PDF Adopting Policies for the Effective and Efficient Transition to the Independent Market Operator for the Wholesale Electricity Spot Market Electricity Sector in the Philippines Revised Corporation Code of the Philippines PDF Custodio Arlo 29 September 2021 WESM going strong more power with IEMOP The Manila Times a b Who We Are Retrieved from https en wikipedia org w index php title Independent Electricity Market Operator of the Philippines amp oldid 1177282008, wikipedia, wiki, book, books, library,
