Cebu Energy Development Corporation (CEDC) and Panay Power Corporation (PPC)-Nabas, thermal facilities of Global Business Power Corporation (GBP) under the Meralco PowerGen (MGen) Group, recently garnered citations for their exemplary compliance on the rules being enforced by the Wholesale Electricity Spot Market (WESM).
CEDC, which operates a 246 MW clean coal-fired power plant located in Toledo City, Cebu, ranked first among all coal-fired facilities in the country. While PPC’s 7.5MW diesel-fired power plant in Nabas, Aklan, placed 3rd under the oil-based category. The said awards were bestowed by the Philippine Electricity Market Corp. (PEMC) during the WCO Summit 2022 last October 14.
Pursuant to WESM rules, power generators are required to comply with the Offer Capacity Compliance and Dispatch Conformance Standard as enforced in the spot market’s operations.
“These citations further cement our company’s commitment toward providing efficient and quality outputs and services for our stakeholders,” MGen President and CEO Jaime T. Azurin affirmed.
“We vow to further strive and continue upholding high level of compliance in the WESM,” he added.
Since 2018, PEMC has served as a governance body under the regulatory oversight of the Department of Energy (DOE) and the Energy Regulatory Commission (ERC), tasked to monitor compliance of market participants while WESM operations is run by the Independent Electricity Market Operator of the Philippines, Inc. (IEMOP).
The enlarged MGen and GBP’s power generation portfolio has a total gross capacity of 2,446 MW that utilize coal, liquified natural gas, diesel, solar technologies. Capable of supplying base, intermediate, peak load, and ancillary support, the MGen Group offers flexible energy solutions to support the varying power requirements of the market.