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Article: Power price manipulation difficult to prove; ERC eyes to impose penalty on WESM offenders.(Business News)
- Article from:
- Manila Bulletin
- Article date:
- October 16, 2006
CopyrightCOPYRIGHT 2006 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: MYRNA M. VELASCO
WASHINGTON DC -- An electricity spot market thriving in an environment with a dominant player will have difficulty proving that price-fixing or manipulation occurs because there is only one or two pricing trends reigning in the market, global energy regulators have pointed out.
Taking this hypothesis into the experience of the Wholesale Electricity Spot Market (WESM) in the Philippines, it was noted that allegations of price manipulation by the Power Sector Assets and Liabilities Management Corporation (PSALM) would be a difficult rap to validate.
For one, it was noted that the capacity being traded by PSALM are still tied to contracts; ...