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PSALM conducts 2023 Luzon Forum with Wholesale Electricity Spot Market (WESM) Trading Participants – Generation Companies

On 22 September 2023, the Power Sector Assets and Liabilities Management Corporation (PSALM) conducted the 2nd batch of the Luzon Forum with Wholesale Electricity Spot Market (WESM) Trading Participants. A total of thirty-one (31) participants representing forty-one (41) generation companies attended the forum held at PSALM’s Conference Hall.

The forum aimed to build rapport between PSALM and WESM trading participants, address specific concerns, resolve issues through concrete solutions, and promote strict adherence to the governing rules, regulations, and policies of the Bureau of Internal Revenue's (BIR) Ruling No. OT-323-2021 including the guidelines and procedures issued by the Independent Electricity Market Operator of the Philippines (IEMOP) dated 27 December 2022. With the support from two (2) IEMOP representatives, the WESM trading participants were also apprised of the status of the generation companies’ accounts with PSALM in relation to the implementation of said BIR Ruling and the corresponding IEMOP’s Guidelines and Procedures, particularly the issuance of BIR forms and official receipts and updating of trading participants’ respective contact information.

PSALM is committed to guiding the trading participants on how existing policies and procedures affect their respective accounts and business decisions.