The Independent Electricity Market Operator of the Philippines (IEMOP) reported falling Wholesale Electricity Spot Market (WESM) prices in Luzon and the Visayas in September, bucking prices reported in Mindanao.
Based on IEMOP data, the decrease in the spot market power rates was traced to lower demand during the period.
The price per kilowatt hour (kWh) at WESM in Luzon averaged P4.12 or 25.5 percent lower than in August when this stood at P5.53 per kWh.
IEMOP said demand in Luzon during the period eased by 3.8 percent to 9,119 megawatts (MW) from 9,480 MW even as supply increased by 3.7 percent to 13,394 MW from 12,913 MW.
The average power reserve for the period rose 22.9 percent to 429 MW from 349 MW.
In the same period, the price per kWh in the Visayas averaged P5.93 or 4 percent lower than in August when this averaged P6.18 per kWh.
Electricity demand in the Visayas for the period eased 1.2 percent to 1,850 MW from 1,872 MW. Electricity supply decreased 2.9 percent to 2,329 MW from 2,399 MW. Electricity reserves for the period surged 25.6 percent to 206 MW from 164 MW.
But while WESM prices in Luzon and Visayas fell, the IEMOP reported an increase electricity prices further south in Mindanao.
IEMOP said that in the Mindanao grid, the WESM price per kWh averaged P5.81, up 20.5 percent from only P4.82 per kWh in August.
Electricity demand in the island for the period also eased 0.38 percent to 1,834 MW from 1,841 MW so that supply also dropped 11.1 percent to 2,800 MW from 3,151 MW.
Power reserves improved 12.7 percent to 124 MW from 110 MW.
IEMOP said these numbers are preliminary and subject to change as the month completes.
