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RE market begins full operation on Dec 26
The Philippine Star
|December 11, 2024
The renewable energy market (REM) is set to start full commercial operation on Dec. 26, according to the Department of Energy (DOE).
In a department circular issued on Dec. 6 but only made available on Tuesday, the DOE announced the full implementation of the REM, which has been in interim operation since 2022.
The REM is the venue for trading RE certificates (RECs), equivalent to an amount of power generated from RE facilities, helping mandated participants comply with their Renewable Portfolio Standards (RPS) obligations.
RPS is a market-based policy that mandates power suppliers to source an agreed portion of their energy supply from eligible RE plants.
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