We advised the regulatory body in the Philippines on the establishment of market monitoring procedures and protocols to assess the operation of the WESM (the wholesale spot market) prior to it going live. The central element of the project was to advise on potential generator bidding behaviours, and establish initial monitoring routines to detect them. We also advised on what would trigger further investigations, and developing criteria for determining market abuse. The assignment also included advising on potential market power mitigation measures.
This assignment was undertaken in conjunction with EA Technology, and was funded by the UK Foreign and Commonwealth Office.