The Independent Electricity Market Operator of the Philippines is urging authorities to end the regulatory uncertainty over the electricity market by moving full steam ahead with the Retail Competition and Open Access scheme that gives consumers the power of choice.
“Having RCOA moving again will definitely enhance competition at WESM. We have received inquiries from several potential contestable customers who consume more than 750 kilowatts if they can already register. They want to benefit from lower electricity prices that retail electricity suppliers can offer. It’s time we push ahead with the full implementation of the EPIRA law,” said IEMOP president Francis Saturnino Juan.
IEMOP took over the operations of the Wholesale Electricity Spot Market, the country’s trading floor of electricity, from Philippine Electricity Market Corp. in September.
Juan said that with the full implementation of the Electric Power Industry Reform Act of 2001, RCOA could be brought down to the level of household consumers.