THE Independent Electricity Market Operator of the Philippines (IEMOP) said the enhanced community quarantine (ECQ) has tempered power demand in Luzon and Visayas.
IEMOP said from March 8 to 15, actual demand in Luzon and Visayas approximated forecasted demand but starting from March 16, demand fell to an average of 8,917 megawatts (MW) from a forecast average of 10,606 MW, a reduction of 15.19 percent.
IEMOP said such scenario resulted to a 29.5- percent average market price reduction from March 8 to 14 equivalent to P2.71 per kilowatt hour (kWh) from the forecasted average price of P3.85 per kWh.
From March 15 to 21, average prices went down further to P1.64 per kWh compared to the forecasted average price of P3.44 per kWh, a 52.5 percent decrease in average price for the week.
On a weekly basis, a 21.2- percent drop in Luzon demand was recorded between March 8 to 14’s 9,198 MW and March 15 to 21’s 7,252 MW. Meanwhile, demand in the Visayas experienced a 5 percent decline with actual average demand from March 8 to 14 reaching 1,753 MW compared to March 15 to 21’s 1,665 MW.
