MinDA: Renewable energy market in the pipeline

THE PLAN to set up a renewable energy market (REM) will help balance the energy mix in the Mindanao grid, an official of Mindanao Development Authority (MinDA) said.

 At present, MinDA Assistant Secretary Romeo M. Montenegro said yesterday in Wednesdays @ Habi at Kape in Abreeza Mall that the mix is largely comprised with coal and diesel-fed plants at 70%, leaving renewable energy with 30%.

 “We targeted that by 2030, the supply will have 40% of renewable energy,” Montenegro said. He said it is important to have plants that are naturally sourced to balance the supply.

 The Department of Energy (DOE) is currently planning to set up REM.

 Energy Undersecretary Felix William B. Fuentebella said on Tuesday during the public consultation on REM Rules at Marco Polo Davao Hotel that it would be established after the wholesale electricity spot market (WESM) in Mindanao would commence commercial operations in the second half next year.

 “This is to level the playing field with the market for renewable energy,” Fuentebella said.

 In a briefer of DOE, “the REM refers to the market where the trading of renewable energy certificates equivalent to an amount of power generated from renewable energy resources is made.”

 The creation of the market is in compliant to Republic Act No. 9513 or the Renewable Energy Act. The REM is the sub-market of WESM.

 “Qualified and registered renewable energy generating units with intermittent renewable energy resources are considered ‘must dispatch’ based on available energy and will enjoy the advantage of priority dispatch in the WESM,” DOE said.

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