Green Tiger Markets announces its first trade in Philippines Electricity
MANILA, Philippines–(BUSINESS WIRE)–Green Tiger Markets, the first and only provider of a forward market for Philippines electricity, proudly announces the successful completion of the first trade on its hedging platform for the Philippines Electricity market. This trade marks the first time that commercial parties in the Philippines have financially secured the price for electricity in the future using an independent marketplace. The achievement represents a significant step forward as the nation strives to modernize its electricity supply chain.
Green Tiger Markets facilitated the pivotal transaction between two commercial market participants in the Luzon electricity grid at a price of 6800 Pesos per megawatt hour for Around the Clock wholesale electricity for the months of August through December.
John Knorring, CEO of Green Tiger Markets, commented on this milestone, saying, “We are thrilled to facilitate the first trade on our platform for the Philippines Electricity market. At Green Tiger Markets, we strongly believe in the power of transparency, price discovery, and liquidity to create a sustainable and efficient energy market. This milestone supports our bold vision to implement proven tactics from established markets in underserved markets. It cements our commitment to ushering in a bright future across an array of commodities markets in the region.”
Before today, commercial buyers and sellers of wholesale electricity were accustomed to entering into long-term Physical Sales Agreements to contract the forward delivery of electricity. That process is laborious and can take many months to complete, with no certainty of finding a commercial partner. Without long-term contracts, electricity generators, distributors, and bulk consumers were obligated to buy and sell wholesale electricity through the volatile WESM spot market operated by IEMOP. For these commercial participants, Green Tiger Markets provides the alternative: a way to quickly and easily contract forward electricity prices with qualified counterparties.
By introducing a secure and user-friendly digital platform based in Singapore, Green Tiger Markets empowers participants in the Philippines Electricity market to hedge their energy price exposure with ease and confidence.
About Green Tiger Markets:
Green Tiger Markets builds markets to promote transparency, price discovery, and liquidity. Green Tiger Markets is the only provider of a forward marketplace for the Philippines energy industry and we are dedicated to enabling our clients to manage their price risk. By employing technology, Green Tiger Markets empowers market participants to trade energy products efficiently and securely, facilitating the transition towards a sustainable energy future.
Contacts
For inquiries, please contact:
Email: info@greentigermarkets.com
