Philippine Electricty Market Board Has New PrexyMarch 3, 2008 at 11:22 am | Posted in 1 | Leave a comment
The Philippine Electricity Market (PEM) Board has appointed a new Rules Change Committee (RCC) Chairperson.
Dr. Phares P. Parayno takes over from Philippine Electricity Market Corporation (PEMC) President Lasse A. Holopainen who served as chairperson of the committee since 2003.
The RCC, which pre-existed the PEM Board, has been instrumental in revising and proposing amendments to the Wholesale Electricity Spot Market (WESM) Rules. “I am glad to have had the chance to serve as chairman of the committee and I am confident that Dr. Parayno will bring a fresh perspective and new energy to ensure continuing improvement of the WESM Rules,” said Holopainen.
The turnover was conducted during the annual RCC Planning Session recently where the committee also outlined schedules and priorities for the year.
“It is a great honor to chair the Rules Change Committee of country’s first and only electricity spot market. As chairperson, I will ensure that the WESM rules are fair to all the market participants,” said Parayno who has been a member of the RCC since 2005.
Dr. Parayno, a BS Chemical Engineering graduate of the University of the Philippines, finished his Ph. D. in Energy Management and Environment Policy from the University of Pennsylvania. Currently, Dr. Parayno is the Chairperson of the Department of Environment of Miriam College.
The RCC is mandated to provide assistance to the Philippine Electricity Market (PEM) Board and the Department of Energy (DOE) in revising and proposing amendments to the Wholesale Electricity Spot Market (WESM) Rules. The Committee assesses proposed changes or amendments and recommends these changes based on its feasibility and consistency with the objectives of the market.
The RCC composition mirrors that of the PEM Board with sector representation comprising 15 Committee members. Currently composed of 12 members with 10 sectoral representatives and 2 independent members, the committee should reach full complement by the first half of the year.(Michelle de Guzman)