(Taguig City) The Department of Energy (DOE), together with the Philippine Electricity Market Corporation (PEMC), has commenced the initial commercial operations of the Interim Mindanao Electricity Market (IMEM) on 26 September 2013 following the issuance of Department Circular No. DC 2013-09-023.

During the first week of the initial commercial operations, PEMC will collect the data from submissions of all the IMEM mandatory participants of their respective membership forms and participation agreements.

Subsequently, the implementation of central scheduling and dispatching of all contracted bilateral contract quantities will start on 03 October 2013, until the declaration of full commercial operations by 26 November 2013. 

Energy Secretary and PEMC Board Chairman Carlos Jericho L. Petilla emphasized that IMEM is only a provisional set-up to address the power situation in Mindanao until new power plants will come online by 2015. 

The IMEM will be a day-ahead market, and is expected to pool an estimated 200 megawatts from all available capacities, including all generation capacities from embedded generators and voluntary load curtailment resources in the Mindanao Grid.  This will contribute to the overall supply of electricity in the Mindanao region to address power deficiency.

Moreover, in support of IMEM’s implementation, the Energy Regulatory Commission has approved a budget of Php 34.25 Million that were sourced from unutilized portions of Market Transaction Fees of the WESM collected in 2012.

Meanwhile, PEMC, as the designated IMEM Operator, shall ensure the smooth implementation of the initial commercial operations by closely coordinating with the Mindanao System Operator and IMEM Members.