Independent Electricity Market Operator of the Philippines
The Independent Electricity Market Operator of the Philippines, Inc. (IEMOP) is a private, non-stock, non-profit corporation that functions as the market operator of the Wholesale Electricity Spot Market (WESM). It assumed WESM operations in September 2018. IEMOP's board of directors is composed of individuals independent from the power industry stakeholders and the government as mandated by the Electric Power Industry Reform Act (EPIRA). Legal Basis. IEMOP was incorporated in May 2018 upon the initiative of the Department of Energy (DOE) and the Philippine Electricity Market Corporation (PEMC) to be the  Independent Market Operator (IMO) of the WESM. This is pursuant to Section 30 of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001 (EPIRA). The establishment of an IMO was further reiterated in the Implementing Rules and Regulations of the EPIRA Rule 9, Section 6(a). History. The Philippine Electricity Market Corporation (PEMC) operated the WESM as the Market Operator until the transition to the IMO. The transition to the Independent Market Operator (IMO) was implemented in 2018 upon the following issuances and actions. These two actions consist of the joining endorsement of the DOE  and the electric power industry participants of the transition to an independent entity to become the IMO and transfer it to the market operator functions, assets, and liabilities from PEMC. Pursuant to the DOE Circular and IMO Transition Plan, an entity that is separate from PEMC and with no interest from any electric power industry participant was formed to become the IMO. This separate is the Independent Electricity Market Operator of the Philippines Inc. (IEMOP). IEMOP was incorporated under the Corporation Code of the Philippines as a private non-stock, non-profit corporation. Incorporation of the IEMOP as IMO. "Manage  and operate the market for the wholesale purchase of electricity and ancillary services in the Philippines (the Wholesale Electricity Spot Market) and engage in services related to the same, in accordance with Republic Act No. 9136 including its implementing rules and regulations, the rules promulgated to govern the operations of the WESM (the “WESM Rules”), including their respective amendments and such other laws, rules and regulations which may be enacted hereafter that shall govern the WESM, and in an efficient, competitive, transparent and reliable manner, with the end in view of improving the trading, delivery and provision of electricity and  ancillary services to the Philippine Electric Power Industry Participants." Nature and Qualifications of IEMOP. Separate and Independent Entity. Technical and Financial Capability.