THE average price of power on the Wholesale Electricity Spot Market (WESM) declined 3.9% in June, the Independent Electricity Market Operator of the Philippines (IEMOP) said on Thursday.
IEMOP reported a WESM system-wide average of P3.86 per kilowatt-hour (kWh) in June, against P4.01 per kWh a month earlier.
Between May 26 and June 25, the available supply decreased 3.5% month on month to 21,432 MW. Demand declined 4.1% to 14,545 MW.
On Luzon, the average power rate slipped 7.5% month on month to P3.91 per kWh, with supply going falling 3.5% to 15,076 MW. Demand declined 5.4% to 10,400 MW.
IEMOP said that WESM rates in the Visayas increased 4.3% to P3.93 per kWh a month earlier.
Supply decreased 1.1% to 2,635 MW while demand dropped 2.2% to 2,003 MW.
Power prices in Mindanao rose 13.2% to P3.54 per kWh from P3.11 per kWh a month earlier.
The grid’s available supply slipped 5.4% to 3,721 MW. Demand grew 0.7% to 2,112 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