Two GBP subsidiaries cited for exceptional compliance practices
Cebu Energy Dev’t Corp. places 6th while Panay Energy Dev’t Corp. tops list of compliant generators
Global Business Power (GBP) subsidiary, Cebu Energy Development Corporation (CEDC), ranked high on the list of most compliant generators under the coal-fired category by the Philippine Electricity Market Corp. (PEMC).
CEDC, with a capacity of 246 MW, placed 6th and garnered an overall compliance rating of 93.92 percent.
Meanwhile, GBP subsidiary, Panay Energy Development Corporation (PEDC), topped the list of coal-fired generators with the highest compliance rating by the Philippine Electricity Market Corp. (PEMC).
PEDC, which has a combined gross capacity of 314 MW, garnered an outstanding rating of 98.72 percent and was hailed as the best among its peers for exemplary compliance to the Wholesale Electricity Spot Market (WESM) rules and manuals covering the period from June 2019 to June 2020.
Pursuant to WESM rules, each Scheduled Generator is primarily required to comply with the must-offer rule (MOR) and real-time dispatch (RTD) deviation. Generators with the highest complying marks must also maintain a certain percentage of plant availability and the least number of market rule breaches. The guiding principles of the annual awards for the most compliant generators are the recognition of distinct obligations, commitment to offer the capacity, and embodiment of a culture of compliance.
“GBP is grateful to be recognized by PEMC for exemplary compliance. We will strive to continuously attain a high level of compliance in the WESM,” GBP President Jaime T. Azurin said in a statement.
The conferment of the said citation was held during the annual WESM Compliance Officers (WCO) Summit Awards held virtually last September 25, 2020. GBP Head of Commercial and Sales Philip D. Dasalla represented the power generation subsidiary as its designated WCO.
“We give high importance to this award, as compliance helps optimize efficiency gains through effective resource management with respect to price signals,” Dasalla said in a statement.
The Philippine Electricity Market Corporation (PEMC) governs the Wholesale Electricity Spot Market (WESM). 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 with monitoring compliance by market participants. PEMC advocates for a culture of compliance among the market participants to achieve a self-regulating power bourse that promotes open-accessibility and transparency.
Global Business Power Corporation (GBP), with a total gross capacity of 1,091 MW, is a leading independent power producer in the Visayas, with presence in Mindanao and Mindoro islands./PR
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