The Independent Electricity Market Operator of the Philippines (IEMOP) recently conducted an in-depth, three-day Wholesale Electricity Spot Market (WESM) Training for the Exist Software Labs, Inc. team from February 26 to February 28, 2025. This initiative underscores IEMOP’s commitment to equipping industry partners with the necessary expertise to navigate WESM operations and prepare stakeholders for the upcoming redesign of the Central Registration and Settlement System (CRSS).
Day 1: Understanding WESM Fundamentals and Metering Processes
The first day of training laid the groundwork by covering WESM fundamentals, focusing on the market’s structure, trading mechanisms, and compliance requirements. Participants also gained insights into the registration process for generators and load participants, as well as the initial stages of the metering process, which plays a crucial role in ensuring accurate electricity transactions.
Day 2: RCOA Regulations and the Green Energy Option Program
The second day shifted focus to the Retail Competition and Open Access (RCOA) and its impact on energy consumers. Participants learned about the registration process, customer switching, and the benefits of open access in fostering competition within the market. Additionally, the Green Energy Option Program (GEOP) was introduced, highlighting opportunities for businesses and consumers to adopt renewable energy sources within the WESM and RCOA frameworks.
Day 3: Billing, Settlement, and Hands-On WESM Training
The final day focused on WESM billing and settlement processes, which are crucial for ensuring transparency and efficiency in energy transactions. Participants engaged in a hands-on WESM system walkthrough, allowing them to apply their knowledge in real-world scenarios. This interactive session helped solidify their understanding of market settlements, financial reconciliation, and compliance with IEMOP’s regulatory requirements.
Ms. Seth, Business Analyst Manager from Exist Software Labs, Inc., reflected on the training experience:
“The three-day WESM training was an invaluable experience, allowing me to gain key insights:
- A deeper understanding of the industry by providing me with new ideas on how to effectively implement our projects.
- A comprehensive grasp of the end-to-end process—from registration and metering to collection—enhances our appreciation and approach to the entire system.
- The opportunity to connect with the people behind IEMOP, not just learning about the processes but also getting to know the dedicated professionals driving the organization forward.”
Strengthening Collaboration for Digital Transformation in Energy
Since 2017, IEMOP has entrusted its digital transformation initiatives to Exist Software Labs, Inc. This latest WESM training further solidifies their collaboration, ensuring that both organizations remain aligned in their mission to optimize energy market operations.
As the Philippine energy sector continues to evolve, initiatives like these play a pivotal role in enhancing market efficiency, compliance, and sustainability—ultimately benefiting all stakeholders within WESM and RCOA.
The Independent Electricity Market Operator of the Philippines (IEMOP) is taking a major step in modernizing the country’s energy market infrastructure with the Central Registration and Settlement System (CRSS) Redesign and Enhancement Project.
📌 Explore Exist Software Labs’ energy solutions today!
For more details, visit Exist Software Labs or contact us for updates on this milestone project.
For more updates on WESM, RCOA, and energy market innovations, follow Exist Software Labs, Inc. on LinkedIn and Instagram.
