Initial average price of electricity in the wholesale electricity spot market (WESM) in Luzon and Visayas for November decreased, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
IEMOP said in an online briefing yesterday the decrease was mainly due to lower average power demand amid higher available average capacity.
As of November 13, average price per kilowatt hour (kWh) in the WESM was at P8.08, down by 12 percent from the full month of October’s P9.22 per kWh.
IEMOP said average demand for the period also went down by 6.7 percent to 10,083 megawatts (MW) from 10,810 MW.
Average supply for the period grew by 1.3 percent to 13,415 MW from 13,599 MW.
The initial figures presented for November can still change depending on developments for the full month, IEMOP said. The volume also reflects the situation in the Luzon and Visayas grids only as Mindanao is not yet fully connected to WESM.
Still, IEMOP reiterated its call for the efficient use of energy to help lower demand not only during peak hours but also during off-peak hours without sacrificing productivity.
It noted several ways to enable the efficient use of energy and presented a study that showed the efficient use of energy results in 3 percent reduction in energy demand which can lower WESM prices and mitigate low alert levels in the grid. — Jed Macapagal
