Prices at the electricity stock market are expected to remain low this month due to decreased demand, Independent Electricity Market Operator of the Philippines Inc. said Monday.
“The recent low spot prices provide an indication that they will continue to be low for the rest of December 2018 since lower demand levels are still expected during this time of the year,” IEMOP, operator of the Wholesale Electricity Spot Market, said in a statement.
IEMOP said WESM prices were relatively low for the past three years based on the company’s data.
The average monthly prices at the WESM started to decline in August this year compared to a year ago due to higher supply.
“Supply condition in generation OK, plus demand coming from the hotter months is slowly easing,” IEMOP president Francis Saturnino Juan said.
The average WESM rates began to decline in August to P2.661 per kWh from P3.423 per kWh in August last year.