The average price of electricity at the Wholesale Electricity Spot Market (WESM) soared by 49.4 percent in October, reaching ₱4.54 per kilowatt-hour (kWh) from ₱3.04/kWh in September, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
IEMOP attributed the spike to higher power demand and reduced supply during the period. Power demand rose 1.8 percent to 13,881 megawatts (MW), while available supply fell by 4 percent to 19,889 MW.
Regional data showed sharp increases across all grids:
- Luzon: Prices jumped 54.3 percent to ₱3.96/kWh as demand grew 1.9 percent and supply declined 6.1 percent.
- Visayas: Rates rose 45.3 percent to ₱5.85/kWh amid slight drops in both demand and supply.
- Mindanao: Prices climbed 40 percent to ₱5.87/kWh, with both demand and supply increasing modestly.
IEMOP vice president Isidro Cacho Jr. noted that, aside from supply-demand dynamics, recent typhoons and plant outages disrupted generation and pushed prices higher.
The WESM rate movement is expected to affect household and business electricity bills in the coming months, particularly for Manila Electric Co. (Meralco) customers, as wholesale price changes typically influence overall retail rates.
