(Taguig City) The Department of Energy (DOE) headed by Sec. Carlos Jericho L. Petilla organized a one-day WESM101, a refresher course on the role of the Wholesale Electricity Spot Market (WESM) at the Philippine Electricity Market Corporation (PEMC) Headquarters in Ortigas, Pasig City last July 3, 2014 to create a more unified and solid energy industry.

The symposium was attended by representatives from consumer groups and leaders from the business sector.  Officials from both the DOE and the PEMC acted as resource speakers during the event.

The subjects covered were electricity generation and distribution, stakeholders of the WESM, its systems and structure. DOE and PEMC facilitators also highlighted the benefits of an existing spot market in the transparency efforts of the government. They also added that WESM encourages competition in the generation industry therefore paving the way towards more investment opportunities for the sector.

“I hope that with our new understanding with the WESM, we would now know how to approach future issues concerning the energy sector and share what we have learned to our peers”. Said Sec. Petilla during the open forum. 

The WESM 101 is a follow up on the recent Inaugural Meeting of the Task Force for Fair Electricity Price held last June 18, 2014. Sec. Petilla noted that the Task Force (TF) was conceptualized to look into several proposals coming from energy stakeholders and determine the future directions of the sector.  He also stated that the TF may become permanent when proven effective considering that there are plenty of ideas coming out which needs to be harmonized.

At the end of the symposium, the Secretary extended his appreciation for the continued support of the consumer groups and business leaders present and assured them of the DOE’s dynamic role on this undertaking.