Lower power costs seen in four years

The Department of Energy (DOE) has apprised relevant industry stakeholders that if the line-up of green energy auctions (GEAs) will yield successful outcomes on capacity additions for the country, the generation rates across grids will go down by average P0.90 to P1.32 per kilowatt hour (kWh) to reach average P3 per kilowatt hour (kWh) level by 2029, which is strategically timed immediately after the tenure of the Marcos administration.

- By MYRNA VELSACO

Citing simulations from the Independent Electricity Market Operator of the Philippines (IEMOP), which is the operator of the Wholesale Electricity Spot Market (WESM), Energy Undersecretary Rowena Cristina Guevara conveyed that on the base scenario that had been used as anchor of the calculatio