Because of the decline in demand brought on by the rainy season, the Independent Electricity Market Operator of the Philippines (IEMOP) reports that the average cost of power traded in the Wholesale Electricity Spot Market (WESM) decreased in June.
In a report by Inquirer, IEMOP said that the average electricity spot price fell to Php 6.15 per kilowatt-hour (kWh), representing a 25% reduction from May’s rate of Php 8.22 per kWh. This was due to the spot market demand declining from 15,688 megawatts (MW) to 14,710 MW.
Meanwhile, with 19,638 MW, or barely 0.1% less than in May, the supply stayed unchanged.
According to IEMOP corporate planning and communications manager Arjon Valencia, the rainy season was responsible for the drop in demand.
It was worth noting, however, that Mindanao registered the steepest decrease in power spot prices, reaching Php 4.61 per kWh from Php 7.26 per kWh, while Luzon followed at Php 8.28 per kWh from Php 5.97 per kWh, and Visayas at Php 8.56 per kWh from Php 8.81 per kWh.
During the billing period from May 26 to June 25, the market operator saw that there was a decrease in demand from these three primary islands.
“[The] decrease in demand [was] due to the wet season,” said Valencia.
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