PEMC AGMM 2024 UNVEILS NEW BOARD OF DIRECTORS AND OFFICERS TO GOVERN THE COUNTRY’S WESM, TOUTS-ACCOMPLISHMENTS WITH THE RENEWABLE ENERGY MARKET

The Philippine Electricity Market Corporation (PEMC) held its Annual General Membership Meeting (AGMM) this year at the Wack Wack Golf and Country Club in Mandaluyong City on 19 June 2024. Power industry top executives from all over the country gathered to take part in one of the most important events for this vital sector.

PEMC President Elvin Hayes E. Nidea delivered the Management’s Report on the annual accomplishments of the company. The newly re-elected President highlighted the advancements made with the establishment of the Renewable Energy Market (REM) and its important role in the government’s plan to increase renewable energy sources in the next few decades. “PEMC has played a pivotal role in advancing renewable energy integration and sustainability initiatives across the Philippines. With the establishment of the REM,” President Nidea said. 

PEMC announced the new set of directors and officers based on the results of the voting by industry stakeholders and market participants, which are some of PEMC’s Sectoral Members.

The new PEMC Board of Directors for the calendar years 2024–2027 are as follows:

Market Operator:

• Richard J. Nethercott – Independent Electricity Market Operator of the Philippines, Inc. (IEMOP)
• Ronald Dylan P. Concepcion – National Grid Corporation of the Philippines (NGCP)

Private Distribution Utilities:

• Augusto D. Sarmiento (new member) – Dagupan Electric Corporation (DECORP) 
• Jose Ronald V. Valles – Manila Electric Company (Meralco) 

Electric Cooperatives:

• Allan L. Laniba – Leyte III Electric Cooperative, Inc. (LEYECO III)
• Jovel B. Ubay-Ubay – Misamis Oriental-1 Rural Electric Service Cooperative, Inc. (MORESCO-1)

Supply Sector:

• Noel V. Aboboto – TeaM Energy Corporation
• Danel C. Aboitiz – Aboitiz Power Corporation
• Elenita D. Go – SMC Global Power Holdings Corporation
• Juan Eugenio L. Roxas – FDC Misamis Power Corporation
• Victor Emmanual B. Santos, Jr. – First Gen Corporation 

Independent Directors:

• Jesus L. Arranza
• Antero Jose M. Caganda (new member)
• Elvin Hayes E. Nidea 
• Vicente C. Sioson (new member)

After the announcement of the new directors, the newly elected board immediately voted for the new corporate officers in a close-door session. 

PEMC Officers: 

• Chairman – Noel V. Aboboto
• President – Elvin Hayes E. Nidea
• Treasurer – Elenita D. Go
• Corporate Secretary – Kate Aubrey G. Hojilla

Every three (3) years, PEMC Members participate in the election of the PEMC Board of Directors. Votes are received and finally canvassed days before the AGMM. This year’s voting results were validated by the AGMM’s external auditor, SGV&Co.

PEMC in the News

Manila Bulletin: https://mb.com.ph/2024/6/22/wesm-governance-body-elects-new-board-officers

DailyGuardian: https://dailyguardian.com.ph/pemc-unveils-new-board-advances-renewable-energy/