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Home arrow ULAT Kooperatiba arrow May 2009 arrow PENELCO'S study tour on WESM

 
PENELCO'S study tour on WESM   Print  E-mail 

Recently, Engr. Loreto Marcelino together with the whole staff of Energy Trading, Corporate Planning & Information Technology Group (ETCITO) headed by Ms. Lorena Capiral were given the chance to visit the first three cooperatives that joined the Whole Sale Electricity Spot Market (WESM). Tarlac Electric Cooperative 1 (TARELCO 1) under Engr. Resureccion Coronel, Benguet Electric Cooperative (BENELCO) managed by Mr. Gerardo Versoza and Ilocos Norte Electric Cooperative (INEC) with Engr.Renato Balintec. A five-day study tour which aims to gather information about how the three coops participated in WESM in preparation for PENELCO's plans of registration to it.

Whole Sale Electricity Spot Market (WESM) was created by virtue of Section 30 of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA) of 2001. It is simply the system of trading wherein electricity as a commodity is being bought through the process of bidding, giving us the chance to purchase the electricity at the lowest possible rate. The WESM is established to facilitate a transparent and competitive electricity market for the country. It will serve as a venue for the trading of electricity to ensure that generation is balanced with the ever-changing demand for electricity.

With the operation of WESM, different approaches can be done on trading. According to Mr. Allan Cruz of Tarelco 1 and Mr. Joey Santos of INEC, both of them make their forecasting on an hourly basis whereas Engr. Mario Gayao who trades for BENECO does weekly forecasting. Mr. Santos also mentioned that to be familiar with the course of trading, PENELCO has the option to participate indirectly on the spot market simply by signing in on WESM website (http://www.wesm.ph), where hourly rate of electricity can be downloaded. With the data that NPC can provide us, we are now able to make our own projection. Whichever approach we may choose, having accurate forecasts will make us thrive in reaping the least possible cost of electricity for the coop and our member-consumers.

As part of the trip, the group had been able to roam around the beautiful places of the North. They visited the famous Ancestral Houses of Vigan City, Marcos Museum at Batac, Churches as Sarrat & Paoay, Bangui Windmills and the Agua Grande-Mabogabog Mini Hydro-Thermal Power Plant at Pagudpud Ilocos Norte. The best part of the journey is that the staff of the newly approved department, ETCITO, had the chance to get along well in preparation for the challenges they will bump into upon joining the spot market. (by Cheryll M. Paguio)





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