Energy reserve market seen to cut down electricity price

By: 11 years ago

Energy Secretary Jericho Carlos Petilla. INQUIRER.net FILE PHOTO

MANILA, Philippines – Energy Secretary Jericho Petilla said Wednesday that their plan to launch an energy reserve market this year would help bring down the price of electricity, amid a pending power rate increase by the Manila Electric Corp.

At the sidelines of the Committee on Energy hearing, Petilla said they would launch the reserve market on March 26.

“It will co-optimize everything. ‘Yung hindi nagagamit na reserve energy can be traded for energy and some for ancillary,” Petilla said.

Ancillary is the reserve energy of the National Grid Corporation of the Philippines that can only be used for stabilizing the system but not for power outages, Petilla said during the hearing.

Petilla added that a reserve market would also enable the energy department to “optimize the use of energy and ancillary.”

Petilla made the announcement amid a pending historic power rate increase by Meralco that was stalled by the Supreme Court due to public outcry.