Initial average price of electricity in the Wholesale Electricity Spot Market (WESM) in Luzon and Visayas for August decreased, data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed.
The decrease was mainly due to lower demand for power amid higher availability of reserves.
As of August 17, average price per kilowatt hour (kWh) in the WESM for Luzon and Visayas stood at P5.43 which is 4 percent lower the P5.66 per kWh for the entire month of July.
IEMOP said average demand in the two major islands for the period went down 0.9 percent to 11,283 megawatts (MW) from 11,386 MW.
Meanwhile, average supply in Luzon and Visayas for the period increased by 3.2 percent to 15,396 MW from 14,917 MW as average power reserves for the period also went up by 17 percent to 479 MW from 408 MW.
In contrast, an increase in WESM rates was recorded in Mindanao.
IEMOP said for the Mindanao grid, average WESM price per kWh was at P4.86, a 28 percent increase from full month July’s P3.79 per kWh.
Average demand in the island for the period also went up by 3 percent to 1,866 MW from 1,808 MW while average supply also increased slightly by 0.22 percent to 3,165 MW from 3,158 MW as average reserves dropped by 8 percent to 112 MW from 122 MW. – Jed Macapagal
