ORTIGAS CENTER, PASIG CITY – Department of Energy (DOE) Secretary Alfonso G. Cusi formally turned over the Chairmanship of the Philippine Electricity Market Corporation (PEMC) to PEM Board Director Noel V. Aboboto in a ceremony held today (July 31) at the PEMC Office.

Chairman Aboboto is the first Chairperson freely elected by the members of the PEM Board since it started operations.

The unprecedented event is a crucial step forward in fulfilling the vision of Republic Act No. 9136, or the Electric Power Industry Reform Act (EPIRA) on the establishment of a Wholesale Electricity Spot Market (WESM) run by an Independent Market Operator (IMO).

Key figures present in the ceremony included former Senator Sergio R. Osmeña III, who headed the Senate Panel of the Joint Congressional Power Commission at the time of EPIRA’s passage into law in 2001; Vice Chair of the House Committee on Energy, Congressman Carlos Roman Uybarreta; Energy Regulatory Chairperson Agnes VST Devanadera; and the President and CEO of the National Grid Corporation of the Philippines, Mr. Anthony L. Almeda. Also present were high-ranking officials of the DOE, PEMC and the Independent Electricity Market Operator of the Philippines.

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