The IMEM Rules establish the basic rules, requirements and procedures that govern the operation of the Interim Mindanao Electricity Market (“IMEM”). In particular, the IMEM Rules seek to:
- Facilitate the efficient operation of the IMEM
- Specify the terms and conditions to which entities may be authorized to participate in the IMEM;
- Specify the authority and governance framework for the IMEM;
- Provide for adequate sanctions in cases of breaches of the IMEM Rules; and
- Provide a timely and cost-effective framework for resolution of disputes among IMEM Members, the Mindanao System Operator and the IMEM Operator.
The IMEM Rules were formulated in consultation with electric power industry participants;
The IMEM Rules shall be interpreted in accordance with the provisions of Chapter 9, with the objectives of theEPIRA, and with other provisions of law.
In the IMEM Rules, words and phrases that are capitalized and italicized are defined in Chapter 10.