The Independent Electricity Market Operator of the Philippines (IEMOP) said average demand and price of electricity in the wholesale electricity spot market (WESM) decreased in July from June.
Robinson Descanzo, the firm’s trading operations head and acting chief operating officer, said WESM power supply in June went up by 1.7 percent to 14,027 megawatts (MW) from 13,794 MW in June while peak demand went down by 1.3 percent to 12,444 MW from 12,611 MW.
Average demand decreased by 0.4 percent to 10,135 MW from 10,174 MW as effective spot settlement prices dropped by almost 35 percent to P2.08 per kilowatt hour (kWh) from P3.19 per kWh in June.
Descanzo said historically, demand is high in July but this year was a deviation due to the quarantine, this year due to the quarantine, cooler temperature and the observance of Eid’l Adha holiday.
“Overall, given the limited operations of establishments and industries, market prices remained low despite some intervals with price spikes which were attributed to supply restrictions and plant outages as noted previously,” Descanzo said.
He added IEMOP is yet to do a simulation of the movements in the WESM for the remainder of the year but said average power demand for could range between 300 and 400 MW lower than 2019 figures.
That is, if the general community quarantine would persist until December.
To date, there are 278 registered WESM members broken down into 135 generation companies, 19 private distribution utilities, 71 electric cooperatives, 52 directly-connected customers and one wholesale aggregator.