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WESM rates take slight dip in Aug
The Philippine Star
|September 04, 2024
System-wide electricity rates in the country’s power spot market slipped last month, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
Based on preliminary data, the average price in the Wholesale Electricity Spot Market (WESM) went down to P5.94 per kilowatt-hour in August from the previous month’s P5.97 per kWh.
The lower WESM rate was due to higher supply, which was enough to partially offset the increased demand for the month.
WESM, operated by IEMOP, is the centralized venue for trading electricity as a commodity where prices are determined by supply and demand.
For the July 26 to Aug. 25 billing period, supply edged 4.5 percent higher to 19,718 megawatts from 18,867 MW, while demand climbed by 1.4 percent to 14,186 MW from 13,989 MW.
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