The Independent Electricity Market Operator of the Philippines (IEMOP) said Tuesday some 46,634 renewable energy certificates (RECs) amounting to P9.68 million were traded in the renewable energy market. The certificates had an average price of P207.47.
This followed the commencement of the full commercial operations of the REM on Dec. 26, 2024. The REM is the venue for trading of RECs, each of which can be sold at a P241.56 price cap, to facilitate compliance of mandated participants with the Renewable Portfolio Standards (RPS) obligations.
“And for 2018-2024 compliance, it can be seen that there is enough REC for compliance and trading in the renewable energy market,” said Kathleen Joyce Guevarra, IEMOP analyst from the market simulation and analysis division.
Meanwhile, IEMOP, as the central registration body (CRB) of the retail market, made on Feb. 7, 2025 the first customer switch from captive to the contestable market under the Retail Aggregation Program (RAP).
