President Ferdinand R. Marcos Jr. is anticipating the reduction of power rates and the creation of more jobs in Mindanao once it connects to the Wholesale Electricity Spot Market (WESM) next month.
President Ferdinand R. Marcos Jr. is anticipating the reduction of power rates and the creation of more jobs in Mindanao once it connects to the Wholesale Electricity Spot Market next month.
“In the long run, WESM will help in sustaining power generation investments to meet the ever-growing electricity demand,” Marcos said during the launch. Likewise, he said, it would also allow power producers in Mindanao to sell their 2,000 megawatts of uncontracted capacities in other parts of the country through the WESM.
WESM is the centralized “trading floor” for electricity, which can be accessed by large-scale buyers and sellers.
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