Average price of electricity in the wholesale electricity spot market (WESM) in Luzon and Visayas for March increased by 12 percent to P6.97 per kilowatt hour (kWh) from last month’s P6.19 per kwh, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
IEMOP said upward adjustment was mainly due to the increasing trend in demand as the country officially enters the dry season.
For March 1 to 25, average power supply available in WESM hit 13,546 megawatts (MW), 5 percent higher than February’s 12,851 MW.
IEMOP said average demand for the period also went up by 8 percent to 10,600 MW from 9,781 MW.
IEMOP added the rise in demand levels may also be due to the imposition of Alert Level 1 in Metro Manila on March 1 which was followed by the implementation of a lower alert levels in other provinces last March 16.
IEMOP said it will continue to closely monitor market results as the country braces for the dry season and the upcoming elections to provide transparent, efficient, and reliable market solutions and services.
The figures collated by IEMOP only reflect the situation in tLuzon and Visayas grids as Mindanao is not yet fully connected to the WESM.
