Power spot prices hit lowest since 2020 - IEMOP

The average cost of power in the country's spot market has declined to its "most affordable" level in five years, according to the Independent Electricity Market Operator of the Philippines.

- By Brix Lelis

IEMOP reported that the average price in the Wholesale Electricity Spot Market (WESM) stood at P4.14 per kilowatt-hour in the first half, marking a 26-percent drop from last year's average of P5.58 per kWh.

"(This marks) the most affordable average market price since 2020. This price drop translates to more competitive electricity costs for Filipino consumers and businesses," the market operator said.

The downtrend, IEMOP said, was a result of improving supply margins, growing renewable energy (RE) capacity and continued investments in transmission infrastructure.