The Independent Electricity Market Operator of the Philippines (IEMOP) expects the average market price of power in the wholesale electricity spot market (WESM) to continue to go down this December after it dropped to P1.87 per kilowatt hour (kWh) in November from October’s P1.97 per kWh.
As of December 10, the average market price of electricity in the WESM is at P1.75 per kWh, a six percent drop.
IEMOP said peak demand for December is also treading to go down by three percent to 11,485 megawatts (MW) from November’s 11,859 MW while available supply will be relatively flat at 13,431 MW from the previous month’s 13,444 MW.
However, average demand for December is two percent higher at 9,415 MW from November’s 9,219 MW.
John Paul Grayda, the IEMOP manager for pricing validation and analysis, said in an online briefing yesterday he sees the trend to be sustained in January unless a more relaxed quarantine protocol will be implemented by the government.
“For January 2021, we expect that the level will continue but the price will be dependent on whether vaccines will arrive and if quarantine protocols will be relaxed as it will directly affect the level of supply and demand for power,” Grayda said.
All the figures only reflect the Luzon and Visayas grids as the Mindanao grid is still in the process of connecting to the WESM. –J. Macapagal