On the power reserves market and the cost of different energy sources
On the power reserves market and the cost of different energy sources April 4, 2024 | 12:02 am My Cup Of Liberty By Bienvenido S. Oplas, Jr. https://www.bworldonline.com/opinion/2024/04/04/585509/on-the-power-reserves-market-and-the-cost-of-different-energy-sources/ The Independent Electricity Market Operator of the Philippines (IEMOP) held a media briefing last week on March 28. Among the topics discussed was the Philippines reserves market that began operation on Jan. 26, 2024. RISE IN RESERVES AND STABLE ELECTRICITY The IEMOP showed data that the reserves of the National Grid Corp. of the Philippines (NGCP) have improved significantly starting February. In the Luzon grid for instance, the contingency reserves have increased from 31% in February 2023 to 100% in February 2024. IEMOP added that “For increased reliability in power grid operations, total scheduled capacity should meet the required level of reserves (i.e., 100%).” These high contingency reserves mean the likelihood of a b