The average price of electricity at the Wholesale Electricity Spot Market (WESM) posted a slight increase in November, latest data from the Independent Electricity Market Operator of the Philippines (IEMOP) show. As of 25 November, the price per kilowatt-hour (kWh) averaged P4.42, a 0.6 percent rise from only P4.39 per kWh in October.
The increase was traced to reduced supply availability and a drop in energy demand. IEMOP corporate planning and communications manager, Arjon Valencia, said the uptick in prices was also influenced by narrowing supply margin alongside a decrease in the contribution of coal-fired power plants in the market.
“While coal continues to be the largest contributor to the generation mix, its share decreased slightly from 60.3 percent in October to 58.1 percent in November. Renewable energy sources, particularly hydropower, solar, and wind, saw growth in their contributions,” Valencia said.
Despite this, Valencia emphasized that coal-fired plants continue to offer the lowest trade prices in the WESM.
Power demand across the country dropped by 2.2 percent to 13,659 megawatts (MW), compared to 13,972 MW in October. Power supply fell 2 percent to 19,492 MW from 19,897 MW during the same period.
Regionally, WESM prices displayed more varied trends. In Luzon, the average price increased by 8.9 percent to P4.24 per kWh, up from P3.89 per kWh in October. In contrast, the Visayas saw an 18.6 percent decrease, with prices dropping to P4.82 per kWh from P5.93 per kWh. Mindanao also reported a reduction of 6.6 percent, with the price falling to P4.85 per kWh from P5.20 per kWh.
The figures for November are still preliminary and subject to change as the full month’s data becomes available.
