Phillipine Wholesale Power Market Operator Seeks to Improve Detection, Deterrence of Market Power Abuse

Michael Giberson

Lest readers of Knowledge Problem believe that U.S. energy markets are the only ones subject to allegations of manipulation, from Manila comes word that the Phillipine Electricity Market Corp. is improving up its wholesale power market monitoring. The market operator hopes to deter future market power abuses similar to the alleged abuses that beset the market in the third month of its operation last year.

According to a newspaper report, PEMC’s market surveillance committee found state-run Power Sector Assets and Liabilities Management Corp. (PSALM) guilty of anti-competitive behavior spike during the Aug. 26-Sept. 25 trading month of last year. The Energy Regulatory Commission later cleared PSALM of price manipulation charges, saying it found no prima facie evidence to start its own investigation on the matter.