Spot power prices rise in Dec. as supply margins thin in Visayas, Mindanao

AVERAGE power rates on the Wholesale Electricity Spot Market (WESM) rose in December due to thinning supply margins in the Visayas and Mindanao, according to the Independent Electricity Market Operator of the Philippines (IEMOP).

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IEMOP reported that power prices system-wide rose 10.1% month on month to P4.38 per kilowatt-hour (kWh) in December.

Available supply increased 1.2% to 20,233 megawatts (MW). Demand dipped 0.5% to 13,440 MW.

Spot prices on Luzon declined 15.4% month on month to P2.98 per kWh.

Available supply increased 1.2% from a month earlier to 20,233 MW, outpacing demand, which declined 0.5% to 13,440 MW.