PEMC transfened to IEMOB
Editor
Rav 5. Efrano,
Roilerick T. dela Cruz, Assistant Editor
business@manilastandard.net
extrastory2000@ gmail.com
MONDAY FEBRUARY 10, 2O2O II 81
1 Solons question
independence 0f
IEM0P as a spot
market operator
By Alena Mae 5. Flores
- c'laimed that he sought a legal opinion
CONGRESSMEN raised concem over
the autonomy of Independent Electric-
ity Market Operator of the Philippines-
as the operator oftlre Wholesale Elec-
hicity Spot Maxket, which acts as the
country's trading floor of electicity.
Rep- Jericho Nograles of partyJist
Puwersa ng Bayaning Atleta scruti
nizetl the independence of IEMOP
ftom the govemrnent, including its op-
erating agreement with former WESM
operator Philippine Electricity Market
Corp.
"Looking at the opgrating agreement
between IEMOP and PEMC, I find it
highly inegular that the incorporators
are also the signatories [of the operat-
ing agreement]," Nograles, who serves
as the House energy committee vice
chairman, said during a recent hearing.
tt
P,qq,o -)atu
through an operating agreement, the
ooeraiion ofWESM on SePt 26, 2018,
but Nograles said the hansfer did not
undergo public hearing. He also ques-
tioneJ the P?,000 capiralizatioir of
IEMOP
Nueva Ejica ReP. Rosarna Vergara
said Congress shoutd have been in-
votved in the creation of the IEMOP
Vergara said a public hearing should
have been held that is "ransfarent
and accountable, so that the Filipino
consumers know that there is no such
thing as 'lutong macao' happening in
our indusrry."
Vergara looked into the backgrormd
of newly-appointed IEMOP president
and chief executive fuchard Ne*ter-
cott who was abpointed last month.
Netbercoft said during the hearing
that he is married to -an assistant sec-
retary of the Energy DePartrnent but
from IEMOP prior to accePting the
post. The board, however' assured him
there was no con.flict ofinterest.
He said National Transmission
Corp. presidart Melvin Matibag was
also married to one of the incorpora-
tors of IEMOB but she resigned.
Vergam said the said relationship€ put
ino qtrestion fre independence of IEMOP
and could be in violation of the Republic
ActNo. 3019 or the Anti-Gmft I-aw.
"The independence is already sub-
ject to question, whafever you say,"
Vergaxa told Nethercott.
PEMC earlier assured that the trans-
fer of.the WESM operations to IEMOP
went tblough consultations, studies
and relevant aPProvals.
The DOE asked both PEMC and