The Philippines is closely watching a new US trade investigation that could reshape manufacturing supply chains and complicate trade flows across Southeast Asia.

The Philippines is pressing Southeast Asian economies to keep markets open as geopolitical tensions in the Middle East threaten to rattle global supply chains and push up energy costs.

The Energy Regulatory Commission (ERC) on Thursday said electricity prices at the Wholesale Electricity Spot Market (WESM) could rise by P2 to P4 per kilowatt-hour (kWh) next month, based on simulations by the Independent Electricity Market Operator of the Philippines (IEMOP).