Initial average price of electricity in the wholesale electricity spot market (WESM) in Luzon and in Visayas for October increased, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
IEMOP said in an online briefing yesterday the increase was due to higher average power demand against lower available average capacity.
As of October 16, average price per kilowatt hour (kWh) in the WESM stood at P9.31, a 2 percent increase from full month September’s P9.12 per kWh.
IEMOP said average demand for the periodwent up 1 percent to 10,769 megawatts (MW) from 10,639 MW.
Average supply for the period dropped also by 1 percent to 13,415 MW from 13,599 MW.
The figures presented by the firm for October can change depending on the full-month development. The volume also only reflects the situation in the Luzon and Visayas grids as Mindanao is not yet fully connected to the WESM.
Meanwhile, IEMOP launched an advocacy program pushing for the efficient use of energy towards productivity, aimed to help lower the demand not only during peak hours but also during off-peak hours without sacrificing productivity.
IEMOP said lower demand can lead to reduced utilization of expensive fossil fuels in the grid which can also push down market clearing prices in the WESM. This would in turn benefit consumers.
As part of the effort, IEMOP is also undertaking studies to broaden the said advocacy and support efforts for demand-side management. – Jed Macapagal
