| Thu, 21 Nov 2024
WESM History Timeline
About Us
WESM History Timeline
2003 November
The Philippine Electricity Market Corporation (PEMC) was incorporated as a non-stock, non-profit corporation registered with the Securities and Exchange Commission (SEC).
2003 November
The Philippine Electricity Market Corporation (PEMC) was incorporated as a non-stock, non-profit corporation registered with the Securities and Exchange Commission (SEC).
2004 March
The Wholesale Electricity Spot Market (WESM) Project commenced.
2004 March
The Wholesale Electricity Spot Market (WESM) Project commenced.
2005 April
The Luzon Trial Operations Program (TOP) began in anticipation of the commencement of the WESM. The TOP was completed that year in December.
2005 April
The Luzon Trial Operations Program (TOP) began in anticipation of the commencement of the WESM. The TOP was completed that year in December.
2006 June
The WESM officially started Commercial Operations on 26 June 2006.
2006 June
The WESM officially started Commercial Operations on 26 June 2006.
2007 October
The WESM Visayas TOP commenced.
2007 October
The WESM Visayas TOP commenced.
2010 December
The Visayas grid was integrated into the WESM and began Commercial Operations on 26 December 2010.
2010 December
The Visayas grid was integrated into the WESM and began Commercial Operations on 26 December 2010.
2013 June
Retail Competition and Open Access (RCOA) was implemented on 26 June 2013.
2013 June
Retail Competition and Open Access (RCOA) was implemented on 26 June 2013.
2013 September
PEMC declared the start of the Interim Mindanao Electricity Market (IMEM), a medium-term and interim solution meant to address the deficiency of the supply in Mindanao.
2013 September
PEMC declared the start of the Interim Mindanao Electricity Market (IMEM), a medium-term and interim solution meant to address the deficiency of the supply in Mindanao.
2015 December
PEMC operationalized the Central Scheduling and Dispatch of Energy and Contracted Reserves
2015 December
PEMC operationalized the Central Scheduling and Dispatch of Energy and Contracted Reserves
2016 January
The Preferential Dispatch for Renewable Energy Resources was integrated into the WESM.
2016 January
The Preferential Dispatch for Renewable Energy Resources was integrated into the WESM.
2017 June
WESM Mindanao was launched.
2017 June
WESM Mindanao was launched.
2018 February
PEMC conducted a Special Membership Meeting to approve the IMO Transition Plan in accordance with the policy issued by the Department of Energy (DOE).
2018 February
PEMC conducted a Special Membership Meeting to approve the IMO Transition Plan in accordance with the policy issued by the Department of Energy (DOE).
2018 May
The Independent Electricity Market Operator of the Philippines (IEMOP) was incorporated.
2018 May
The Independent Electricity Market Operator of the Philippines (IEMOP) was incorporated.
2018 June
PEMC conducted the Annual General Membership Meeting where the DOE Secretary stepped down as the Chairman of the PEM Board of Directors and a new Board was elected.
2018 June
PEMC conducted the Annual General Membership Meeting where the DOE Secretary stepped down as the Chairman of the PEM Board of Directors and a new Board was elected.
2018 September
PEMC and IEMOP signed the Operating Agreement appointing the latter to manage the daily operations of the WESM.
2018 September
PEMC and IEMOP signed the Operating Agreement appointing the latter to manage the daily operations of the WESM.
2021 June
On 26 June the WESM transitioned from an hourly market to a 5-minute market.
2021 June
On 26 June the WESM transitioned from an hourly market to a 5-minute market.
2022 August
The Renewable Energy Market (REM) launched its Interim Commercial Operations (ICOP) on 26 August.
2022 August
The Renewable Energy Market (REM) launched its Interim Commercial Operations (ICOP) on 26 August.
2023 January
The WESM Mindanao officially started commercial operations on 26 January.
2023 January
The WESM Mindanao officially started commercial operations on 26 January.
2023 June
On 09 June, PEMC and IEMOP signed a Memorandum of Agreement (MOA) to transfer the operational functions of the REM to IEMOP.
2023 June
On 09 June, PEMC and IEMOP signed a Memorandum of Agreement (MOA) to transfer the operational functions of the REM to IEMOP.
2024 January
Full Commercial Operations of the Reserve Market on 26 January
2024 January
Full Commercial Operations of the Reserve Market on 26 January
2024 January
On 26 January 2024, the PHP 52 billion Mindanao-Visayas Interconnection Project (MVIP) was inaugurated and energized, physically connecting all three (3) major power grids in Luzon, Visayas, and Mindanao.
2024 January
On 26 January 2024, the PHP 52 billion Mindanao-Visayas Interconnection Project (MVIP) was inaugurated and energized, physically connecting all three (3) major power grids in Luzon, Visayas, and Mindanao.
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