SNAP receives recognition for WESM compliance
MANILA, Philippines — SN Aboitiz Power (SNAP), the joint venture between SN Power of Norway and AboitizPower Corp., received recognition for its compliance with the Wholesale Electricity Spot Market (WESM) rules.
In a statement, SNAP said its Ambuklao, Binga, and Magat hydroelectric power plants received top recognition as compliant hydro generators during the WESM Compliance Officer Summit held last month.
Ambuklao led 12 participating hydropower generators all over the country with a compliance rating of 95.55 percent for the June 2019 to June 2020 period.
Binga and Magat placed second and fourth, respectively, with 92.60 percent and 83.45 percent.
SNAP said this is its third citation this year from the Philippine Electricity Market Corp. (PEMC) as it also topped PEMC’s compliance ratings in April for the cool-dry season covering the period December 2019 to February 2020, and in July for the hot-dry season covering the period February to May 2020.
The PEMC oversees the operations of 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.
The PEMC confers rating citations to generation companies that have an exemplary compliance record with WESM’s laws and manuals such as the must-offer rule, rule on nomination of projected outputs or loading levels, and real-time dispatch schedule.
SNAP Group supplies clean, renewable and dependable energy through the operation of the 105-megawatt (MW) Ambuklao hydro, and the 140-MW Binga hydro in the province of Benguet.
It also operates the 8.5-megawatt Maris hydro in Isabela, as well as the newly uprated 360 to 388-MW Magat hydro at the border of Isabela and Ifugao.