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DOE Launches PREM An On-line Trading Platform

Sustainable development is about the progress that meets the needs of the present without endangering the ability of future generations to meet the demands. To realize this, DOE strives that our country must emerge as a champion in clean, indigenous energy utilization and PREMS was created.

DOE introduced online monitoring to further comply with the RE Law of 2008. It is a trading platform for Renewable Energy Certificates and readily available for operation.

PREMS is a significant milestone that will help and continually find more ways to improve our nation to establish more advanced and robust energy in the future. The development of PREMS is part of the joint effort of the United Nations Development Programme (UNDP), the DOE and Global Environment Facility (GEF) called Development for Renewable Energy Applications Mainstreaming and Market Sustainability (DREAMS) Project.

An overview- PREMS Online Monitoring Platform

  • PREMS or Philippine Renewable Energy Market System is a tool to ensure that it would be used by the RE registrar to track, monitor, and evaluate the implementation and compliance to the Renewable Portfolio Standards Rules (RPS) for both on-grid and off-grid areas.
  • It also highlights the possibilities of the country in empowering the Filipino to try further into the modern technologies that involve smart metering, microgrids, blockchain utilization, and the global movement towards sustainable energy technologies.
  • With the operation of PREMS, there is a possibility of a faster transition towards a greener energy environment.
  • Will facilitate market competitiveness, efficiency, and transparency in the trading of RE certificates based on the REM Rules.

PREMS must be done right, and people must be comfortable and confident that those certificates can be traded efficiently and transparently. 

Do you think PREMS is an efficient tool? Why or why not?

Share your thoughts below

Sources:

https://businessmirror.com.ph/2019/12/18/doe-launches-first-renewable-energy-on-line-trading-platform-in-philippines/

https://www.philstar.com/business/2019/12/19/1978052/doe-launches-online-monitoring-trading-platform-re-certificates

Maxime Droit CEO at REURASIA Energy Solutions Biomasss Construction & Commissioning Expert

is dedicating its time to serve the local community's best interest by developing and supporting sustainable renewable energy projects in the Philippines.