MANDAUE CITY, Cebu — The Wholesale Electricity Spot Market (WESM) Compliance Officers (WCO) Summit made its return after a one-year break, gathering hundreds of power industry participants on October 24, 2024, under the theme “Setting the Gold Standard in Market Governance.”

The summit, held in Mandaue City, highlighted the crucial role of compliance in the energy sector, awarding top-performing power companies for their exceptional adherence to market rules. The event featured discussions on the latest industry developments, including the newly introduced Reserve Market.

Department of Energy (DOE) Undersecretary Rowena Cristina L. Guevara, the keynote speaker, underscored the importance of strict compliance in the power sector to foster growth, particularly in light of new initiatives such as the Reserve Market.

“This is a great opportunity to remind our ancillary service providers (ASPs) to adhere to the compliance standards under the recently promulgated Ancillary Services Monitoring (ASM) Manual, particularly on the submission of offers, and the timeliness and accuracy of AS provision,” Guevara said.

The Philippine Electricity Market Corporation (PEMC) President and WESM Governance Officer Elvin Hayes E. Nidea welcomed the participants, acknowledging the industry’s challenges, such as supply deficits and increasing demand, but praised the resilience and success of the WESM players.

“This year has been a challenging one for the industry as we purposefully try to navigate the tough terrain of supply deficits, increasing demands, and regulatory challenges that beset the spot market,” Nidea remarked.

Elaine R. de Guzman-Gonzales, PEMC’s Chief Internal Audit Officer, expressed optimism in her closing remarks, emphasizing that compliance is the foundation for the industry’s growth.

“May your success inspire others to continually improve their systems and processes to ensure compliance with the market rules and regulations. As competition goes well beyond the market, innovation and improvements are driven by the very basic foundation of trust and compliance,” Gonzales stated.

The awards recognized various categories, with standout performers including Smith Bell Mini-Hydro Corporation, which topped the Run-of-River Hydro category for its 1.800 MW Commonal-Uddiawan Mini-Hydro Power Plant, and Ecopark Energy of Valenzuela Corp., which led the Solar category with its 16.002 MWp Tagalag Solar Power Plant.

In the wind category, Guimaras Wind Corporation took first place for its San Lorenzo Wind Farm Project, while Therma Luzon, Inc. led the Coal category for its Pagbilao Coal-Fired Power Plant 1 & 2.

Other notable awardees included SN Aboitiz Power, which secured the top spot in the Hydro category for its Binga Hydroelectric Power Plant, and Prime Meridian PowerGen Corporation, recognized for its San Gabriel Avion Natural Gas-Fired Power Plant in the Natural Gas category.

Mindanao-based companies were also honored, with Mindanao Energy Systems’ 9.21 MW Cabulig Mini-Hydroelectric Power Plant taking first place among hydroelectric facilities, and Lamsan Power Corporation recognized in the Biomass category for its 15.0 MW power plant.

The WCO Summit, held annually, recognizes the importance of compliance in ensuring efficient market operations, and the awards serve as a testament to the participants’ commitment despite operational and budgetary challenges.

These awards build on last year’s WESM Compliance Officers Conferment and Annual Compliance Awards (WCACA), which similarly highlighted the dedication of market players to maintaining high standards of governance in the power industry.

The awarding of winners was based on compliance averages measured in different categories as follows:

Must-Dispatch Generation Units

Scheduled Generating Units

Non-Scheduled Generating Units

Mindanao Top 5 Recognition (Q3 & Q4)

These awards were also given last year at the WESM Compliance Officers Conferment and Annual Compliance Awards (WCACA), in an effort to recognize the market participants’ commitment to market compliance despite budget constraints.