The price for October 2024 billing scaled to 13.1%, reaching around Php 4.39 per kilowatt-hour (kWh), according to data from the Independent Electricity Market Operator of the Philippines (IEMOP).
In a media briefing, the market operator said that while the average supply had lowered by 2.2% to 19, 897 megawatts (MW), the demand had increased by 2% to 13,972 MW compared to last month’s 13,700 MW.
According to IEMOP Assistant Manager for Market Simulations and Analysis Chris Warren Manalo, the slight uptick in demand can be attributed to the Christmas season but remains relatively lower than in previous months due to cooler weather.
The Luzon grid experienced a price hike to about Php 3.89 per kWh, up 2.4% from September’s Php 3.80 per kWh rate. This change coincided with a 2.4% decrease in supply, now at 13,979 MW from 14,327 MW, alongside a 1.7% rise in demand, which climbed to 9,915 MW from 9,746 MW.
In the Visayas, the tariff reached Php 5.93 per kWh, marking a 30.1% increase from September’s Php 4.56 per kWh. Supply rose by 5.2%, increasing from 2,387 MW to 2,510 MW, while demand also climbed 2.5%, from 1,955 MW to 2,003 MW.
Mindanao saw a significant price increase of 49.3%, bringing rates to Php 5.20 per kWh, driven by a 6.2% reduction in supply, which declined from 3,635 MW to 3,408 MW. Meanwhile, demand showed a 2.8% rise, climbing from 1,999 MW to 2,054 MW.
