The Energy Regulatory Commission (ERC), led by Chairperson and CEO Atty. Francis Saturnino Juan, called for structural and operational reforms in the Wholesale Electricity Spot Market (WESM) to strengthen market flexibility and support the country’s transition toward a more resilient and inclusive energy future during the Electricity Market Exchanges (EMX) 2026 at the Solaire Resort North.
Held under the theme “Empowering Market Flexibility: Pathways to a Resilient and Inclusive Energy Future,” the event brought together key stakeholders from the energy sector, including representatives from the Department of Energy (DOE), Philippine Electricity Market Corporation (PEMC), Independent Electricity Market Operator of the Philippines (IEMOP), National Grid Corporation of the Philippines (NGCP), and other market participants.
In his keynote address, Juan emphasized the need to modernize the country’s grid and market frameworks amid the rapid growth of renewable energy, battery storage, and evolving consumer demand.
“The Philippine power system is rapidly evolving.”
“The Philippine power system is rapidly evolving… Yet, our grid rules, market rules, and regulatory frameworks were written largely for a world of large, centralized, predictable thermal plants. They were not designed for this transition. They need to change ASAP. And the ERC is committed to driving that change,” he said.
Among the ERC’s priorities are the finalization of the Philippine Grid Code 2026 Edition, the development of the Energy Storage Systems regulatory framework, and the advancement of demand response rules to enhance system flexibility. The Commission is also pursuing reforms to address operational issues in WESM, including market concentration, dispatch protocols, pricing, and the reserve market.
As WESM marks 20 years of commercial operations, Juan underscored the importance of responsive governance and coordinated action among the ERC, DOE, PEMC, IEMOP, Congress, and other stakeholders to ensure that market reforms keep pace with the country’s evolving energy landscape.
“Twenty years in, WESM has done much. But the next twenty years demand much, much more.”
“Twenty years in, WESM has done much. But the next twenty years demand much, much more of all of us, of our work and of the rules we make together,” he concluded, reaffirming that the ERC will continue to pursue reforms with the interests of electricity consumers at the forefront.