The price of electricity at the Wholesale Electricity Spot Market (WESM) in June fell 20 percent in Luzon and the Visayas on the back of lower demand and wider reserves, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
In an online briefing, the IEMOP said the price of electricity in Luzon and the Visayas averaged P7.10 per kilowatt-hour or 19.6 percent lower than in May when this averaged P8.83 per kWh.
The average demand for electricity from the two major island groups for the period went down by 4.2 percent to 11,554 megawatts (MW) from 12,062 MW.
In the same period, the average supply in Luzon and Visayas grew 1.01 percent to 14,961 MW from 14,811 MW even as power reserves for the period also went up 12.55 percent to 574 MW from 510 MW.
IEMOP said WESM charged consumer in the Mindanao grid an average of P3.29 per kWh during the period, or a 47 percent lower than in May averaging P6.21 per kWh.
Electricity demand during the period fell 3.23 percent to1,826 MW from 1,887 MW while supply improved 9.8 percent to 3,234 MW from 2,946 MW as average reserves went up by 36.56 percent to 1,296 MW from 949 MW.
Isidro Cacho, IEMOP corporate strategy and communications head, said spot electricity price of around P7 per kWh may persist in the months ahead as capacity stabilizes and demand stays firm as cooler temperatures prevail.
