Spot power prices decline in June

ELECTRICITY spot prices declined in June due to the decreased demand, the Independent Electricity Market Operator of the Philippines (IEMOP) said.

The IEMOP reported that the average power price at the Wholesale Electricity Spot Market (WESM) system-wide fell 25.2% to P6.15 per kilowatt-hour (kWh) in June from P8.22 per kWh a month earlier.

Supply fell 0.1% to 19,638 megawatts (MW). Demand dropped 6.2% to 14,710 MW.

For Luzon, the spot price fell 27.9% to P5.97 per kWh.

Supply on the main island fell 1% to 13,860 MW, while demand dropped 6.2% to 10,664 MW.

Last month, the average spot price in the Visayas fell 2.9% to P8.56 per kWh.

Supply was 2,322 MW, down 3.6%, while demand hit 2,002 MW, down 7.6%.

For Mindanao, the average WESM price fell 36.6% to P4.61 per kWh.

Supply increased 6.8% to 3,457 MW. Demand fell 5% to 2,044 MW.

IEMOP operates the WESM, where energy companies can buy power when their long-term contracted power supply is insufficient for customer needs. — Sheldeen Joy Talavera