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MEDIA ADVISORY
4 December 2017
 
WHAT             : PUBLIC CONSULTATION ON THE RENEWABLE ENERGY MARKET (REM) 
                          RULES
                                                 
WHEN            : December 5, 2017 (TUESDAY); 9:00a.m. – 12:00p.m.
 
WHERE          : Marco Polo Hotel, Davao City 
 
WHO               : ATTY. JOSE M. LAYUG, JR   Chairman, National Renewable Energy Board
 
                           ATTY. FRANCIS SATURNINO C. JUAN, Philippine Electricity Market
                           Corporation
 
                          Various renewable energy developers, distribution utilities, electric   
                          cooperatives, government agencies, LGUs, consumer groups and
                          civil societies 
The REM is a market for the trading of Renewable Energy Certificates (“RECs”) in the Philippines, 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 the trading of RECs; facilitate the compliance by Mandated Participants of their RPS requirements to ensure a level playing field for all REM participants; ensure that the prices of RECs are governed as far as practicable by the fundamentals of demand and supply; and 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.

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