Initial average price of electricity in the Wholesale Electricity Spot Market (WESM) in Luzon and Visayas for March decreased, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
However, the firm recorded an increase in initial average spot prices in Mindanao during the same period.
IEMOP said in an online briefing yesterday the decrease for Luzon and Visayas was mainly due to lower average power demand amid higher available average capacity.
As of March 12, average price per kilowatt hour (kWh) in the WESM for Luzon and Visayas is at P5.78 which is 22.6 percent lower from February’s P7.47 per kWh.
IEMOP said the average demand in the two major islands for the period declined by 0.8 percent to 9,826 megawatts (MW) from 9,908 MW.
Average supply in Luzon and Visayas for the period grew by 3.08 percent to 14,258 MW from 13,832 MW.
IEMOP said for the Mindanao grid, the increase in average price was driven by higher average power demand with lower available average supply.
As of March 12, average price per kWh in the WESM for Mindanao is at P6.31, a 21.35 percent growth from full month February’s P5.20 per kWh.
Average demand in the island for the period improved by 1.24 percent to 1,721 MW from 1,700 MW while average supply dropped by 8 percent to 3,006 MW from 3,266 MW.
