President Ferdinand Marcos Jr. said that the launching of the Wholesale Electricity Spot Market in Mindanao will prompt investments and economic activity in the region, particularly in manufacturing and other energy-intensive industries. | DYGalvezINQ
The Presidential Communications Office explained that WESM is a centralized venue for trading electricity for large-scale buyers and sellers and that it aims to establish a competitive, efficient, transparent, and reliable market for electricity.
The PCO said Mindanao has an electrification rate of 87% and WESM in Mindanao will have a “crucial role” in the successful operation of the Mindanao-Visayas Interconnection Project since it allows efficient transmission and settlement of electricity exchanges.
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