WESM rates down this month

MANILA, Philippines — The average price of electricity in the wholesale electricity spot market (WESM) has declined this month due to cooler weather and stable supply, snapping a two-month hike in power costs.

System-wide WESM rates plunged by 9.7 percent to P3.99 per kilowatt-hour from last month’s P4.42 per kWh, according to preliminary data from the Independent Electricity Market Operator of the Philippines.

For the period from Nov. 26 to Dec. 15, overall supply was higher at 2.9 percent, to 20,064 megawatts from 19,492 MW on a monthly basis, while demand marginally rose to 13,692 MW from 13,659 MW.

The supply margin, or the difference between the available supply and the actual demand, improved by 9.2 percent to 6,372 MW this month from the previous month’s 5,833 MW.