ERC approves Price Determination Methology for the WESM

The Energy Regulatory Commission (ERC) approved in principle the application filed by the Department of Energy (DOE) for the approval of the Price Determination Methodology (PDM) for the Philippine Wholesale Electricity Spot Market (WESM) last March 15, 2004.

In said Order however, the ERC still seeks to be provided guidance for the further development of some elements of said methodology; orders the additional information and/or explanation for some elements and designates certain elements of said methodology for future, separate, independent filing with the ERC.

The ERC expects the resubmission of the amended methodology, to include therein the directives of ERC, after which, the final approval of the same shall be given if found to be in compliance with the said Order.

Price Determination Methodology (PDM)

March 31, 2004