DAVAO CITY — Davao Light and Power Co., Inc. last week said its power rates have been trending down due to the Wholesale Electricity Spot Market (WESM) and stabilizing coal prices.
Its power rates have been going down since January, and the average rate is P8.75 per kilowatt-hour, P1.49 lower than last month, Davao Light President and Chief Operating Officer Rodger S. Velasco told reporters.
“The price of coal is continuing to stabilize” despite the war in Ukraine, he said. “The price of crude oil has been fluctuating but coal has gone down already. Our rates have been trending down since January this year due to WESM and the price of coal.”
Mr. Velasco said the prices of coal have gone down to $125 per metric ton (MT) after rising to $400 following Russia’s invasion of Ukraine. “Still not normal but cheaper than last year’s $400.” — Maya M. Padillo
