Spot prices rise in Nov

The Wholesale Electricity Spot Market (WESM) saw a modest rise in average electricity prices in November as lower demand failed to counterbalance the equally diminished supply.

- By BRIX LELIS

System-wide WESM rates edged up by 0.6 percent to P4.42 per kilowatt hour from October's P4.39 per kWh, according to preliminary data from the Independent Electricity Market Operator of the Philippines (IEMOP).

"Although both the system supply and demand decreased this month, its margin remained a factor in the price's slight increase as the supply margin for the November billing period is lower than October," said Arjon Valencia, IEMOP corporate planning and communications manager.

Operated by IEMOP, WESM is the centralized venue for trading electricity as a commodity where prices are determined by supply and demand.