Philippines' renewable energy market to enter full commercial operation

The Philippines expects the full operation of the renewable energy market to drive the development.(Photo: Wikimedia Commons)

Starting on Dec. 26, the Department of Energy (DOE) of the Philippines has announced that the Renewable Energy Certificate (REC) trading system will fully return to a market-driven mechanism, ending more than two years of pilot operation under the Renewable Energy Market (REM).

In the future, REC prices will be determined by market supply and demand. This change is expected to further increase the share of renewable energy in the Philippines as demand drives supply.