MANILA, Philippines: President Ferdinand Marcos Jr. on Wednesday said the Energy Regulatory Commission temporarily suspended the operation of the Wholesale Electricity Spot Market during red alerts to mitigate the anticipated increase in electricity prices.In his speech during a Labor Day event in Malacañang, Marcos said the ERC declared the suspension of WESM operations based on notices issued by the system operator National Grid Corporation of the Philippines .
This developed as the NGCP placed the Luzon grid on yellow alert for the third consecutive day this week due to lack of available reserves.A yellow alert is issued when the operating margin is insufficient to meet the transmission grid's contingency requirement.The Department of Energy said that the unexpected power outages in over 32 power plants in April 2024 set a record.
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