The Independent Electricity Market Operator of the Philippines (IEMOP) is celebrating its seventh anniversary, highlighting key milestones in advancing transparency, efficiency, and inclusivity in the country’s electricity market.

Since taking over market operator functions on 26 September 2018, IEMOP has been at the center of managing and developing the Philippine electricity market. The group marked 2025 as a pivotal year, recording lower electricity prices, stronger renewable energy integration, and the launch of programs designed to broaden access to competitive power.

One of the highlights was the successful Market Participants Update (MPU) and the third Philippine Electric Power Industry Forum (PEPIF) 2025, held in Cagayan de Oro City in April. The MPU gathered stakeholders to review developments in market operations, while the PEPIF, co-hosted by IEMOP with the Department of Energy (DOE) and Energy Regulatory Commission (ERC), focused on accelerating the country’s renewable energy transition.

“Let us embrace the spirit of collaboration and innovation as we work together to accelerate the Philippine renewable energy transition—but we should not forget to collaborate also with our consumers, the electricity end-users. After all, the industry does not exist for itself but for those who consume electricity,” said Rep. Sergio C. Dagooc of the APEC Party List, the event’s guest of honor.

Beyond local initiatives, IEMOP also supported the Renewable Energy Markets Asia 2025 in Singapore, showcasing the country’s progress on renewable energy certificate (REC) trading. In December 2025, the DOE launched the full commercial operations of the Renewable Energy Market, with IEMOP as the Renewable Energy Registrar. To date, 52.78 million RECs have been issued, with 25.13 percent already retired for compliance.

Market conditions have also improved, with spot prices hitting a five-year low in the first half of 2025. Prices averaged ₱4.14 per kWh, down 26 percent from 2024, a result of stronger supply, more renewable energy capacity, and reduced grid congestion.

“The lower prices in the market is the result of improved efficiency in the entire industry value chain. It is a product of the collaborative efforts of all sectors, public and private,” said IEMOP President and CEO Atty. Richard J. Nethercott.

The year also marked the introduction of the Retail Aggregation Program (RAP), designed to extend the benefits of Retail Competition and Open Access (RCOA) to institutions and communities with smaller electricity demands. Since its first switch in February 2025, RAP has contributed 0.13 TWh to retail transactions, allowing aggregated consumers to negotiate better rates and support alternative energy sources.

IEMOP said it will continue to champion innovations that empower consumers while pursuing its mandate of ensuring a transparent, competitive, and reliable electricity market.