Electricity spot market governing body Philippine Electricity Market Corp., or PEMC, has noted the increase in the share of renewable energy being traded .
PEMC President Elvin Hayes Nidea said "renewable energy has increased based on its share in the power generation mix as of August 2023, which is at 22.44 percent."
Nidea said in his opening statement at the ASEAN Clean Energy Forum, "that is 2.33 percent higher as compared to the total share of RE in the generation mix in 2022." He further explained.
Nidea was one of the keynote speakers for the held at the SMX Convention Center in Pasay City on 21 November 2023.
The annual event was attended by luminaries and stakeholders of the energy sector hoping to get a glimpse of the power industry's efforts and plans to lessen the carbon footprint and increase sustainable sources of energy in line with the 2020–2040 National Renewable Energy Program of the government.