The Independent Electricity Market Operator of the Philippines (IEMOP) is gearing to launch the Green Energy Option Program or GEOP on 03 December 2021, following the Energy Regulatory Commission’s issuance of ERC Resolution No. 08, Series of 2021. GEOP is one of the various programs under the Renewable Energy Act of 2008 which aimed to promote the development of renewable energy in the country. The program provides consumers an option to source their electricity supply from renewable energy resources, such as biomass, solar, wind, geothermal, ocean energy, and hydropower.
The ERC Resolution, in harmony with the Department of Energy’s Circular No. DC2018-07-0009, announced that those with average peak electricity requirements equal to or greater than 100kW are the first set of consumers that may avail of GEOP. Similar to the Retail Competition and Open Access (RCOA) program, consumers who are qualified to participate in the GEOP are no longer constrained to only source their electricity supply from the distribution utility of their location. Eligible consumers may now choose from various “Renewable Energy Suppliers” that are authorized by the DOE to procure energy from renewable energy facilities. Through such mechanism, GEOP aims to contribute to energy sustainability and promote further competition in the electricity sector.
By 03 December 2021, IEMOP will commence with the registration of Renewable Energy Suppliers into the Wholesale Electricity Spot Market (WESM). Upon successful completion of registration requirements, Renewable Energy Suppliers may now submit applications to enrol their customers into the GEOP starting 03 January 2022. The IEMOP, as the Central Registration Body for GEOP, facilitates and processes all switch requests to ensure all GEOP transactions are recorded.
IEMOP has undertaken preparations and has submitted proposals to amend market rules and manuals to fully commence GEOP. These proposals will be deliberated by power industry stakeholders and will eventually be submitted to the DOE for approval. IEMOP commits to provide steadfast support to implement the state’s policies and initiatives to encourage renewable energy and consumer choice. — Danyella Jamina Santiago
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to email@example.com.
Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA.