PEMC unveils new board, advances renewable energy

The Philippine Electricity Market Corporation (PEMC) held its Annual General Membership Meeting (AGMM) on June 19, 2024, at the Wack Wack Golf and Country Club, bringing together top power industry executives from across the country.

PEMC President Elvin Hayes E. Nidea delivered the Management’s Report, emphasizing the company’s achievements, particularly the establishment of the Renewable Energy Market (REM). “PEMC has played a pivotal role in advancing renewable energy integration and sustainability initiatives across the Philippines,” Nidea stated.

During the meeting, PEMC announced the new set of directors and officers elected by industry stakeholders and market participants. The newly elected board members for the 2024-2027 term include:

• Market Operator: Richard J. Nethercott (Independent Electricity Market Operator of the Philippines, Inc. – IEMOP)
• System Operator: Ronald Dylan P. Concepcion (National Grid Corporation of the Philippines – NGCP)
• Private Distribution Utilities: Augusto D. Sarmiento (Dagupan Electric Corporation – DECORP) and Jose Ronald V. Valles (Manila Electric Company – Meralco)
• Electric Cooperatives: Allan L. Laniba (Leyte III Electric Cooperative, Inc. – LEYECO III) and Jovel B. Ubay-Ubay (Misamis Oriental-1 Rural Electric Service Cooperative, Inc. – MORESCO-1)
• Supply Sector: Noel V. Aboboto (TeaM Energy Corporation)
• Generation Sector: Danel C. Aboitiz (Aboitiz Power Corporation), Elenita D. Go (SMC Global Power Holdings Corporation), Juan Eugenio L. Roxas (FDC Misamis Power Corporation), and Victor Emmanual B. Santos, Jr. (First Gen Corporation)
• Independent Directors: Jesus L. Arranza, Antero Jose M. Caganda, Elvin Hayes E. Nidea, and Vicente C. Sioson

Following the announcement, the board elected the new corporate officers in a close-door session. The new officers are:

• Chairman: Noel V. Aboboto
• President: Elvin Hayes E. Nidea
• Treasurer: Elenita D. Go
• Corporate Secretary: Kate Aubrey G. Hojilla

Every three years, PEMC members participate in the election of the board of directors, with votes canvassed and validated by SGV&Co., the AGMM’s external auditor.