May spot power prices decline 11.2% vs April

POWER prices on the Wholesale Electricity Spot Market (WESM) fell in May as supply growth outpaced that of demand, the Independent Electricity Market Operator of the Philippines (IEMOP) said. 

IEMOP reported that WESM rates system-wide declined 11.2% month on month in May to P4.01 per kilowatt-hour (kWh).

Between April 26 and May 25, the available supply increased 4.1% to 22,218 megawatts (MW). Demand rose 2.9% to 15,169 MW.

“This supply-demand level resulted in an increased margin of 4,945 MW, up from 4,585 MW in April 2025,” Arjon B. Valencia, manager for corporate planning and communication at IEMOP, said via Viber.

For Luzon, spot prices dipped 7.9% month on month to P4.23 per kWh, with supply rising 4.1% to 15,620 MW while demand grew 3.6% to 10,993 MW.

WESM rates in the Visayas surged 17.9% month on month to P3.71 per kWh as supply rose 4% to 2,664 MW. Demand grew 3.5% to 2,078 MW.

Spot power prices in Mindanao slipped 24.3% month on month to P3.11 per kWh. During the period, the available supply rose 4% to 3,934 MW. Demand, on the other hand, decreased 0.9% to 2,098 MW.

Coal remained the top power generation source on the WESM, accounting for 59.9%, Mr. Valencia said. This is followed by renewable energy (22%) and natural gas (17%).

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