The Independent Electricity Market Operator of the Philippines (IEMOP) expects the Luzon and Mindanao power grids to remain generally stable in 2026 based on current supply levels, officials said Thursday in a briefing in Pasig City.
However, the Visayas grid may face challenges. IEMOP vice president for trading operations Isidro Cacho Jr. said Visayas relies heavily on imported power from Luzon and Mindanao. If interconnection capacity is limited, more expensive local power plants could dictate market prices in the region.
Because of this, Visayas is projected to see the biggest increase in Wholesale Electricity Spot Market (WESM) prices during the summer months of April and May next year. Rates may reach P6 to P7 per kilowatt-hour (kWh), Cacho said.
For the same period, WESM rates in Luzon may rise to P5 to P6 per kWh, while Mindanao could range from P4 to P5 per kWh. He warned that unplanned power plant outages could push prices even higher.
Despite the outlook for next summer, IEMOP reported that WESM prices in November fell by 12.4 percent, with the national average dropping to P3.98 per kWh from P4.54 in October. Demand decreased by 2.7 percent while supply inched up by 0.5 percent, contributing to the lower prices.
