The Independent Electricity Market Operator of the Philippines said Wednesday average prices at the Wholesale Electricity Spot Market declined to P8.08 per kilowatt-hour in the first two weeks of November on ample supply.
Average rates at the WESM, the trading floor of electricity, rose to P9.22 per kWh in October from P9.12 per kWh in September. IEMOP said this was due to outages by major coal, geothermal, oil-based and natural gas plants.
IEMOP said generators with higher offer prices were dispatched to make up for the needed energy requirements.
“Ample supply margins with a lesser frequency of price spikes were recorded in the first half of November,” said Christian Karla Rica, assistant manager for knowledge management services at IEMOP.
Supply reached 13,651 megawatts in November, while demand dropped to 10,083 MW, resulting in a supply margin of 3,568 MW. Alena Mae S. Flores