The Department Circular creates a Steering Committee on the establishment of Renewable Energy Market, consisting of the following member agencies: Department of Energy, Philippine Electricity Market Corporation (PEMC), Power Sector Assessts and Liability Management (PSALM), as well as Grid and Transmission corporations.
The Steering Committee meets every two weeks and its functions comprise, among others from:
- establishing a governance framework for the Renewable Energy Market (REM) and ensuring its operation;
- coordinate with various stakeholders when establishing the REM;
- setting up procedures to adapt rules for the Wholesale Electricity Spot Market and create a Renewable Energy Registrar.
Responsibilities of each member agency include regular updates to the Steering Commission regarding the establishment of the REM.