AVERAGE price of electricity in the Wholesale Electricity Spot Market (WESM) in the entire country increased in October, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
Preliminary data from IEMOP released on Tuesday showed the increase was driven by the decrease in power supply availability for the period amid higher demand for electricity in the runup to the Christmas season.
As of October 25, average price per kilowatt hour (kWh) in WESM for the entire Philippines was at P4.39 which is a 13.1 percent increase compared to September’s P3.88 per kWh.
IEMOP said total average demand in the country went up 2 percent to 13,972 megawatts (MW) from 13,700 MW while average supply decreased by 2.2 percent to 19,897 MW from 20,348 MW.
As of October 25, average price per kWh in the WESM in Luzon was at P3.89 per kWh which is a 2.4 percent increase from September’s P3.80 per kWh.
Average WESM price in the Visayas was at P5.93 per kWh which is a 30.1 percent jump from September’s P4.56 per kWh.
In the Mindanao grid, average WESM price per kWh in October surged by 49.3 percent to P5.20 from September’s P3.48 per kWh.
