PEMC

PEMC (Premier Electricity Market and Champion of Governance) is a non-stock, non-profit corporation incorporated in November 2003 with the initiative of the Department of Energy (DOE) and representatives from various sectors of the electric power industry. It served as the autonomous group market operator and governing body of the Philippine Wholesale Electricity Spot Market (WESM) for over a decade. The WESM is a centralized venue where electricity is traded as a commodity based on actual use and availability, following the Electric Power Industry Reform Act (EPIRA) of 2001. The EPIRA mandated the formation of an independent entity, and subsequently, on 26th September 2018, the transfer of the WESM operations from PEMC to the Independent Electricity Market Operator of the Philippines (IEMOP) was endorsed. However, PEMC remains the governing body of the WESM primarily through the PEM Board of Directors and the WESM Governance Committees. Its role is to ensure power, efficiency, market, and competition in the energy industry through effective and efficient governance of the WESM. The company operates within the energy industry.