Electricity prices at the Wholesale Electricity Spot Market (WESM) dropped 12.4 percent in November, the Independent Electricity Market Operator of the Philippines (IEMOP) on Wednesday reported.
The average price per kilowatt-hour (kWh) nationwide fell to ₱3.98 from ₱4.54 in October. IEMOP said the decline was driven by lower demand and slightly higher power supply. Total average demand decreased 2.7 percent to 13,507 megawatts (MW), while supply rose 0.5 percent to 19,998 MW.
Lower WESM rates can help reduce electricity bills for households and businesses, depending on their exposure to the spot market, and may be reflected in December bills. In Luzon, the average price dropped to ₱3.52 per kWh, down 11.1 percent from October, as demand fell 1.8 percent and supply increased 1.9 percent.
In the Visayas, the average price decreased 9.6 percent to ₱5.29 per kWh, with demand down 7.5 percent and supply slightly lower by 0.1 percent. Mindanao saw the largest drop, with the average price falling 14.9 percent to ₱4.99 per kWh, while demand declined 2.3 percent and supply fell 4 percent.
IEMOP noted that the data covers the period up to November 25, not the full month, since WESM billing ends on the 25th of each month.
