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NATIONAL RENEWABLE ENERGY BOARD (NREB)
« on: December 13, 2017, 08:00:27 PM »
MEDIA ADVISORY
13 DECEMBER 2017
WHAT             : NATIONAL RENEWABLE ENERGY BOARD (NREB) PUBLIC CONSULTATION ON RENEWABLE ENERGY MARKET (REM) RULES
WHEN             : DECEMBER 14, 2017 (THURSDAY), 9:00 AM-12:00 AM

WHERE          : 1012 MULTIMEDIA ROOM, 10TH FLOOR HPSB, UNIVERSITY OF MAKATI, MAKATI CITY

WHO               : ATTY. JOSE M. LAYUG, JR   CHAIRMAN, NREB

                         ATTY. FRANCIS SATURNINO C. JUAN, PHILIPPINE ELECTRICITY MARKET CORPORATION

•          THE RENEWABLE PORTFOLIO STANDARDS (RPS) IS A POLICY MECHANISM THAT REQUIRES ELECTRIC POWER INDUSTRY PARTICIPANTS SUCH AS GENERATORS, DISTRIBUTION UTILITIES AND SUPPLIERS TO SOURCE OR PRODUCE A SPECIFIED FRACTION OF THEIR ELECTRICITY FROM ELIGIBLE RE RESOURCES.

RPS IS COMPLIED THROUGH RE CERTIFICATES TO FACILITATE THE COMPLIANCE OF THE MANDATED ENTITIES TO THE RPS.

THE TRADING OF THE CERTIFICATES IS GOVERNED BY THE REM RULES TO BE PROMULGATED BY THE DEPARTMENT OF ENERGY.

THE REM IS A MARKET FOR THE TRADING OF RENEWABLE ENERGY CERTIFICATES (“RECS”) IN THE PHILIPPINES AND INTENDED AS A VENUE FOR MANDATED PARTICIPANTS OBLIGATED BY RENEWABLE PORTFOLIO STANDARDS (“RPS”) TO COMPLY WITH THEIR RPS REQUIREMENTS.

THE PROPOSED REM RULES WILL ESTABLISH A COMPETITIVE, EFFICIENT AND TRANSPARENT MARKET FOR RHE TRADING OF RECS TO FACILITATE THE COMPLIANCE OF MANDATED PARTICIPANTS WITH THEIR RPS REQUIREMENTS THROUGH THE SURRENDERING OF RECS.

IT WILL ENSURE A LEVEL PLAYING FIELD FOR ALL REM PARTICIPANTS,  ENSURE THAT PRICES OF RECS ARE GOVERNED AS FAR AS PRACTICABLE BY THE FUNDAMENTALS OF DEMAND AND SUPPLY AND WILL ASCERTAIN  THAT THE PRICES OF RECS ARE, IN THE LONG –TERM, REFLECTIVE OF THE MARGINAL COST OF BRINGING AN ADDITIONAL MEGAWATT-HOUR OF RE GENERATION INTO THE PHILIPPINE ELECTRICITY SYSTEM.

THIS IS THE SECOND (2ND) LEG OF THE PUBCON AFTER THE FIRST HELD IN MARCO POLO DAVAO CITY LAST DECEMBER 5, 2017.

THE ACTIVITY WILL BE ATTENDED BY VARIOUS RENEWABLE ENERGY DEVELOPERS, DISTRIBUTION UTILITIES, ELECTRIC COOPERATIVES, GOVERNMENT AGENCIES, LGUS, CONSUMER GROUPS AND CIVIL SOCIETIES.

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