THE National Renewable Energy Board (NREB) and Philippine Electricity Market Corporation (PEMC) will hold a public consultation on the renewable energy market (REM) rules at the University of Makati on Thursday, Dec. 14, 2017.
NREB Chairman Atty. Jose M. Layug, Jr. and Atty. Francis Saturnino C. Juan (PEMC) will be the speakers at the forum to be held from 9 a.m. to 12 p.m. at the 1012 Multimedia Room.
The forum, the second (2nd) leg of the PubCon after the first held in Marco Polo Davao City last December 5, 2017, is for renewable energy developers, distribution utilities, electric cooperatives, government agencies, local government units, consumer groups and civil societies.
The REM is a market for the trading of Renewable Energy Certificates (RECs) in the Philippines and intended as a venue for Mandated Participants obligated by Renewable Portfolio Standards (RPS) to comply with their RPS requirements.
RPS is a policy mechanism that requires electric power industry participants such as generators, distribution utilities and suppliers to source or produce a specified fraction of their electricity from eligible RE resources.
RPS is complied through RECs to facilitate the compliance of the mandated entities to the RPS.
The trading of RECs is governed by the REM Rules to be promulgated by the Department of Energy.
The proposed REM rules will establish a competitive, efficient and transparent market for rhe trading of RECs to facilitate the compliance of Mandated Participants with their RPS requirements through the surrendering of RECs.
It will ensure a level playing field for all REM participants, ensure that prices of RECs are governed as far as practicable by the fundamentals of demand and supply and will ascertain that the prices of RECs are, in the long –term, reflective of the marginal cost of bringing an additional Megawatt-hour of RE generation into the Philippine electricity system. rw: wjg