The Energy Regulatory Commission (ERC) recognized the Wholesale Electricity Spot Market’s (WESM) 20 years of commercial operations and affirmed its vital role in advancing a competitive, transparent, and reliable power market in the country.
Over the past two decades, WESM has served as the country’s primary venue for electricity trading—promoting price transparency, enhancing competition, and supporting key reforms in the power sector.
Its continued evolution, including expanded market coverage and increased consumer participation, underscores its importance in ensuring an efficient and reliable electricity supply.
The milestone was commemorated at the Independent Electricity Market Operator of the Philippines Main Office in Ortigas Center, Pasig City, where key stakeholders gathered to mark two decades of market operations.
In his message, ERC Chairperson and CEO Atty. Francis Saturnino Juan reflected on the market’s historic launch in 2006 and recalled the urgency behind completing the regulatory framework that enabled WESM to operate on schedule.
“From its very first day, this market has always demanded technical rigor, regulatory discipline, and the willingness to push through difficulty to get things done.”
“From its very first day, this market has always demanded technical rigor, regulatory discipline, and the willingness to push through difficulty to get things done. That has not changed in twenty years,” Juan said.
Over the years, WESM has expanded to the Visayas, implemented Retail Competition and Open Access (RCOA), and transitioned to the Independent Electricity Market Operator of the Philippines.
Despite challenges such as market power concerns, system disruptions, and the 2013 electricity price spikes, these developments prompted reforms that strengthened market safeguards.
The anniversary also coincides with the lowering of the RCOA threshold to 100 kilowatts to expand consumer participation and competition.
The ERC also cited milestones including the shift to a five-minute market, greater integration of renewable energy, and the interconnection of the grids, which enhanced market efficiency and power system reliability. The anniversary also coincides with the lowering of the RCOA threshold to 100 kilowatts to expand consumer participation and competition.
Juan emphasized the need to sustain reforms that deliver tangible benefits to Filipino electricity consumers.
“Keep the consumer at the center of every decision—because that is ultimately why this market was built, why it has been defended, and why it must continue to improve,” he concluded.
