The Philippine Electricity Market Corporation (PEMC) has announced significant organizational changes following its Annual General Membership Meeting (AGMM) last week.
One of the key changes includes the abolition of the Chief Governance Officer (CGO) position, previously held by Fortunato C. Leynes, now President of the National Transmission Corporation (TransCo).
Structural Changes and Governance Enhancements
The PEMC Board of Directors re-evaluated the corporate structure, citing the company’s by-laws, which stipulate that the President shall organize and supervise work groups.
These work groups include the PEM Audit Committee (PAC), Market Surveillance Committee (MSC), Technical Committee (TC), Rules Change Committee (RCC), Dispute Resolution Administrator (DRA), and Compliance Committee (CC).
The by-laws did not originally provide for the CGO position, which was established with the inception of the Wholesale Electricity Spot Market (WESM).
As a result, the PEMC Board delegated the governance responsibilities to the newly elected President, Elvin Hayes E. Nidea, effectively merging the functions of the CGO with those of the President. Nidea’s 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 stated.
Role of the CGO and Board Committee Assignments
The CGO played a critical role in governing the WESM, overseeing the Enforcement Compliance Office (ECO) and the Market Assessment Group (MAG). These divisions are essential for maintaining the governance of the electricity spot market.
The newly elected PEM Board members have been assigned to various committees as follows:
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
New Leadership and Ongoing Committees
The Renewable Energy Market (REM) Governance Committee (RGC), part of the WESM Governance Committees (WGC), welcomed Dir. Antero Jose M. Caganda as its new Chairperson. The previous chairperson, Dir. Jesus L. Arranza, has moved to the Retirement Committee along with Dir. Vicente C. Sioson.
WESM Governance Committees (WGC)
- Compliance Committee
- Peter Lee U – Chairperson
- Alejandro C. Dueñas II
- 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
