WESM prices jump 23% in June as Visayas leads surge

MANILA, Philippines – Wholesale electricity prices rose sharply in the June billing period as tighter power supply pushed up rates across all major grids, with the Visayas recording the biggest increase.

On Thursday, data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed the system-wide average Wholesale Electricity Spot Market (WESM) price climbed 22.7 percent to P9.56 per kilowatt-hour (kWh) for the June billing period (May 26 to June 25), from P7.79 per kWh previously.

READ: Visayas, Mindanao WESM rates soar amid thin power supply

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The increase came as average supply slipped 1.1 percent to 21,133 megawatts (MW), while average demand eased 1.9 percent to 15,454 MW.

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The Visayas posted the steepest price increase, with average WESM rates surging 41.7 percent to P14.46 per kWh.

READ: Visayas power woes highlight need for gridwide upgrade

Mindanao followed with a 37.5-percent jump to P12.75 per kWh, while Luzon recorded a 13.3-percent increase to P7.95 per kWh. /pai INQ

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