Average price of electricity in the wholesale electricity spot market (WESM) in Luzon and Visayas for the September billing month increased, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
IEMOP said the increase was mainly due to higher power demand against lower available capacity.
As of September 10, average price per kilowatt hour (kWh) in the WESM was at P9.02, a 24 percent increase from P7.26 per kWh in August.
IEMOP said the average demand for the period also went up by 2 percent to 10,670 megawatts (MW) from 11,485 MW.
Average supply for the period dropped 4 percent to 13,706 MW from 14,277 MW.
The figures are preliminary, IEMOP said.
In a statement, IEMOP said the increase in demand as well as in WESM rates could be attributed to the high price of imported fossil fuels and the growth in demand due to the reopening of schools and universities in the country beginning last week of August.
IEMOP said consumers must efficiently manage consumption, not only to save on electricity cost but to also help in mitigating reduced supply margins. – Jed Macapagal
