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10 developments in WESM and renewables in 2025
Business World Philippines
|January 13, 2026
Here is my quick list of developments during 2025 in two areas of the Philippines electricity sector — the Wholesale Electricity Spot Market (WESM) and renewables.
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1. Peak power demand declined in 2025 to 19,000 megawatts (MW) after a considerable increase in 2024. This can be due to the strong El Niño in 2024 that spiked consumers’ electricity demand, followed by La Niña in 2025 that lowered electricity demand.
2. Power generation was flat in 2025 (compared with 2024's level) at 118 terawatt-hours (TWh). The share of coal and gas in power generation declined from 77% in 2023, to 74% in 2025. Hydro generation was high during La Niña in 2025.
3. There was a continued decline in Wholesale Electricity Spot Market (WESM) prices. The load-weighted average price (LWAP) went down from P6.07/ kilowatt-hour (kWh) in 2023 to P3.98/kWh in 2025. This data comes from the Independent Electricity Market Operator of the Philippines (IEMOP).
4. The feed-in tariff allowance (FIT-All) was higher in 2025 — from zero in 2023 to P0.13/kWh in 2025. It was P0.20/kWh in late 2025. FIT — or the guaranteed price for 20 years for intermittent renewables, namely solar and wind power — is high, up to P9/kWh. The higher the difference between the WESM price and the guaranteed price of FIT, the higher the FIT-All that will be collected from consumers (see Table 1).
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