ELECTRICITY PRICES at the Wholesale Electricity Spot Market (WESM) rose in November as margins narrowed between supply and demand, the Independent Electricity Market Operator of the Philippines (IEMOP) said.
Citing preliminary data, IEMOP said WESM prices system wide rose 0.6% month on month to P4.42 per kilowatt-hour (kWh).
Between Oct. 26 and Nov. 25, available supply fell 2% to 19,492 megawatts (MW). Demand, on the other hand, fell 2.2% to 13,659 MW.
“Although both the system supply and demand decreased this month, its margin remained a factor in the price’s slight increase as the supply margin for the November billing period is lower than October,” according to Arjon B. Valencia, corporate planning and communications manager for IEMOP.
“This is driven by the supply-demand situation in Luzon which has an effect in the system collectively,” he added.
On Luzon, spot prices increased 8.9% month on month to P4.24 per kWh.
The grid’s supply dropped 2.4% month on month to 13,645 MW. Demand likewise decreased 2.5% to 9,663 MW.
WESM prices in the Visayas fell 18.6% month on month to P4.82 per kWh.
Available supply dipped 4.6% month on month to 2,394 MW. Demand fell 1.6% to 1,971 MW.
Spot prices in Mindanao during the period averaged P4.85 per kWh, down 6.6% from a month earlier.
Power supply increased 1.3% month on month to 3,453 MW while demand declined 1.2% to 2,030 MW.
IEMOP operates the WESM, where energy companies can buy power when their long-term contracted power supply is insufficient for customer needs. — Sheldeen Joy Talavera
