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WESM rates higher as Christmas nears
The Philippine Star
|November 06, 2024
After a four-month decline, the average price of electricity in the Wholesale Electricity Spot Market (WESM) rose in October, driven by increased demand ahead of the Christmas season.
According to the Independent Electricity Market Operator of the Philippines (IEMOP), system-wide WESM rates increased by 13.1 percent to P4.39 per kilowatt-hour from P3.88 per kWh in September.
At a media briefing yesterday, Chris Warren Manalo, assistant manager for market simulations and analysis at IEMOP, traced the rate hike to a slight increase in system demand and weaker supply due to plant outages.
Operated by IEMOP, WESM is the centralized venue for trading electricity as a commodity where prices are determined by supply and demand.
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