Stay informed of the latest happenings and headlines in the Philippine Power Industry with Mabuhay Energy’s Weekly News Spotlight! This week, we're featuring key articles from the Power Industry’s Regulatory sector that are shaping the energy landscape: Spotlight: 𝐌𝐕𝐈𝐏 𝐢𝐦𝐩𝐫𝐨𝐯𝐞𝐬 𝐬𝐮𝐩𝐩𝐥𝐲 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐦𝐢𝐝𝐬𝐭 𝐬𝐲𝐬𝐭𝐞𝐦 𝐝𝐞𝐦𝐚𝐧𝐝 𝐬𝐮𝐫𝐠𝐞𝐬 𝐢𝐧 𝐌𝐚𝐫𝐜𝐡 In its latest monthly briefing, the Independent Electricity Market Operator of the Philippines (IEMOP) reported the latest market data as of 24 March 2024 which indicated a stable supply averaging around 18,900 megawatts (MW). However, the period saw a notable surge in average demand, escalating from 12,372 MW in February to 13,185 MW in March. This increase was observed across regions, with Luzon exhibiting a 6.1% increase, followed by Visayas at 6.4%, and Mindanao at 8.4%. READ MORE: https://www.iemop.ph/news/mvip-improves-supply-security-amidst-system-demand-surges-in-march/ 𝐄𝐑𝐂 𝐨𝐫𝐝𝐞𝐫𝐬 𝐬𝐮𝐬𝐩𝐞𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 ‘𝐫𝐞𝐬𝐞𝐫𝐯𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐛𝐢𝐥𝐥𝐢𝐧𝐠’ 𝐟𝐨𝐫 𝐌𝐚𝐫𝐜𝐡 As surging costs of ancillary services or power reserves had been pointed to as culprits in electricity rate hikes, the Energy Regulatory Commission (ERC) has directed ‘settlement and billing suspension’ for the reserve market for the March billing period. With the temporary deferment of reserves market settlement and billing, consumers will feel temporary relief in not shouldering that cost component in the forthcoming billing cycle. The Energy Regulatory Commission (ERC) is enthusiastically poring over the structural changes implemented by the Ontario Energy Board (OEB), primarily on regulation frames that are also viable for enforcement in the Philippine power sector. READ MORE: https://mb.com.ph/2024/3/27/erc-orders-suspension-of-reserve-market-billing-for-march Image sources: IEMOP website, Inquirer Business Do you want to stay abreast of the headlines in the Philippine Power Industry? Subscribe to our weekly newsletter today! Talk to our energy professionals by sending an email to info@mabuhayenergy.com. Mabuhay Energy, Your Partner For Growth. Our roster of enthusiastic and experienced energy professionals is ready to make your electricity savings a reality! Visit mabuhayenergy.com or email us at sales@mabuhayenergy.com to begin your energy savings journey! 🔌