The Independent Electricity Market Operator of the Philippines (IEMOP) on Tuesday reported a notable increase in the price of electricity in the Wholesale Electricity Spot Market (WESM) for October, with rates rising 13.1 percent compared to September.
Electricity rates as of 25 October, averaged P4.39 per kilowatt hour (kWh), up from P3.88 in the previous month. The increase was attributed to a decrease in power supply availability coinciding with heightened demand, largely driven by preparations for the upcoming Christmas season.
IEMOP data indicate total demand rose an average 2 percent to 13,972 megawatts (MW), while average supply fell by 2.2 percent to 19,897 MW.
Regionally, Luzon reported an average WESM price of P3.89 per kWh, a 2.4 percent increase from September’s P3.80. In the Visayas, prices surged significantly by 30.1 percent to P5.93, up from P4.56. Mindanao experienced the most dramatic rise, with average prices soaring by 49.3 percent to P5.20 from P3.48 in September.
IEMOP said the figures are preliminary and may be subject to change as the month progresses.
