DOE: Preference of RE plants in spot market to ramp up energy security

In a statement yesterday, ACEN said it has begun works on the 160-megawatt (MW) Balaoi and Caunayan wind project in Pagudpud, Ilocos Norte.

STAR / File

MANILA, Philippines — The Department of Energy (DOE) is mulling over the issuance of an order requiring the wholesale electricity spot market (WESM) to prioritize renewable energy (RE) plants in its operations. 

If set in place, the preferred dispatch of RE-based power plants in the WESM will ensure energy security and lower spot market charges, the DOE said in a draft department order posted on its website Friday.

The WESM is an avenue where power is traded at higher prices compared to pre-agreed supply deals. Power providers buy from the spot market to tide over any gaps in supply.

Full Story: https://www.philstar.com/headlines/2022/03/11/2166603/doe-preference-re-plants-spot-market-ramp-energy-security