The Philippine Electricity Market Corporation (PEMC) was incorporated in November 2003 upon the initiative of the Department of Energy (DOE) with representatives from the various sectors of the electric power industry to be the governance arm of the WESM.
The PEMC was likewise constituted as the autonomous group market operator (AGMO) to undertake the preparations for the establishment of the WESM and its initial operations during the interim period prior to the selection of the independent market operator (IMO).
On 26 September 2018, PEMC maintained its governance functions of the WESM while the market operation was turned over to the Independent Market Operator of the Philippines (IEMOP) as the Market Operator (MO).
The Board of the Directors of the PEMC (Philippine Electricity Market Board or PEM Board) and the various WESM committees perform the governance functions of PEMC.
These WESM committees include the
Compliance Committee,
Market Surveillance Committee,
Technical Committee,
Rules Change Committee,
Dispute Resolution Administrator,
and PEM Audit Committee.
The organic units that support PEMC's governance functions are the Market Assessment Group, Enforcement and Compliance Office, and Legal Department.
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