Assessment of Reserve Market and Co-optimisation of Energy and Reserve in the Wholesale Electricity Spot Market (WESM) Phase 1 and 2 - Philippines
WESM commenced commercial operation as an energy only market in June 2006. Co-optimisation of energy and reserves will be introduced after the Department of Energy has determined that all market participants have complied with the conditions and criteria for the operation of the reserve market. LMP Market sub-contracted NCL to assist in providing advice to one of the biggest generating companies in the Philippines with regards to the likely impacts of the implementation of reserve market with co-optimisation of energy and reserve in the scheduling of dispatch of its generation units including strategies for managing this risk ahead of the commencement of the reserve market. The second phase of the project involved expanding the sensitivity analyses and simulations during the first phase and developing optimal strategies to mitigate risks for the client.