ACEN Corp. said its energy trading platform received full compliance certification from Intelligent Energy Systems (IES) which makes the company the first in the country to secure such validation from the Australian advisory firm.
The company said the endorsement also underscores its adherence to the Philippine Wholesale Electricity Spot Market (WESM) standards.
ACEN said its trading platform has been developed with a local third-party software developer which allows the company to seamlessly integrate its growing renewable portfolio into the WESM, facilitating generator offers and nominations, monitoring real-time schedules of all its Philippine assets and obtaining WESM data.
The company added an enhancement to the platform was done in 2021 in direct response to WESM’s transition from an hourly to a five-minute trading dispatch.
“This certification reflects our proactive approach towards transparency and compliance in our software system as we lead the industry through innovation. Our stakeholders can trust in our platform’s capability to deliver not only transparency but also efficiency,” said Miguel de Jesus, ACEN chief operating officer for Philippine operations, in a statement.
IES is an Australia-based advisory and consulting firm which has a proven software certification methodology that has been used in the compliance of different software systems and processes implemented by electricity market operators and market players throughout the Pacific region. – Jed Macapagal