Power spot prices fall in August on ample supply
ELECTRICITY PRICES at the Wholesale Electricity Spot Market (WESM) fell in August with supply ample in the face of strong demand, the Independent Electricity Market Operator of the Philippines (IEMOP) said.
“Despite the increase in demand, available supply was higher for this specific billing period; hence, there was a wider supply margin mainly because the hydropower plants’ contributions increased from 6.7%…to 10%,” Arjon B. Valencia, manager of corporate planning and communication at IEMOP, said via Viber.
According to preliminary data, IEMOP said the system-wide average price declined 0.4% month on month to P5.94 per kilowatt-hour (kWh) in August.
The operator said that available supply rose 4.5% month on month to 19,718 megawatts (MW). Demand during the period rose 1.4% to 14,186 MW.
WESM prices in Luzon rose 5.5% month on month to P6.24 per kWh.
IEMOP added that supply rose 2.4% from a month earlier to 13,657 MW. Demand rose 0.4% to 10,180 MW.
The average rate in the Visayas dropped 7.6% month on month to P6.93 per kWh.
The grid’s available supply rose 7.7% month on month to 2,268 MW. Demand climbed 4.6% to 1,982 MW.
Mindanao WESM electricity prices fell 27.8% month on month to P3.37 per kWh.
Supply rose 10.9% from a month earlier to 3,794 MW, while demand rose 3.7% to 2,025 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