IEMOP plans to establish reserves market

THE Independent Electricity Market Operator of the Philippines (IEMOP) said it is looking at establishing a market for ancillary services (AS) to attract investment and ensure transparency in the system. IEMOP Spokesperson Andrea May T. Caguete said that the planned reserves market aims to encourage investors to build facilities which address AS requirements, adding that […]

BSP dollar reserves dip in May

The central bank’s dollar reserves dipped in May, as the government withdrew foreign currency to use for debt repayments.   Data from the Bangko Sentral ng Pilipinas (BSP) showed the gross international reserves (GIR) declined by 0.67% to $106.978 billion as of end-May, from the $107.705 billion logged as of end-April.   However, this was 14.7% higher than the $93.288 […]