THE average electricity price on the spot market fell in September due to a higher supply margin, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
Power prices on the Wholesale Electricity Spot Market (WESM) system-wide declined 33.8% to P3.04 per kilowatt-hour (kWh) compared to August.
Arjon B. Valencia, manager for corporate planning and communication at IEMOP, said the September average was the lowest in seven months.
Between Aug. 26 and Sept. 25, available supply rose 0.5% month on month to 20,712 megawatts (MW). Demand declined 2.9% to 13,640 MW.
“In Luzon, prices dropped significantly due to lower demand and higher supply, even with increased power exports,” Mr. Valencia said.
The WESM rate in Luzon fell 31.7% to P2.57 per kWh, with supply increasing 0.2% to 14,681 MW and demand dropping 2.9% to 9,595 MW.
IEMOP said that spot prices in the Visayas fell 37.1% month on month to P4.02 per kWh.
Supply rose 1.5% from a month earlier to 2,440 MW while demand dropped 4% to 1,945 MW.
A yellow alert was declared over the Visayas grid after several power plants tripped because of the earthquake that hit northern Cebu on Sept. 30.
Power rates in Mindanao rose 37.1% month on month to P4.19 per kWh.
Available supply on the grid was up 0.9% month on month to 3,592 MW. Demand declined 2.1% to 2,100 MW.
IEMOP operates the WESM, where energy companies can purchase power when their long-term contracted power supply is insufficient for customer needs. — Sheldeen Joy Talavera