Spot power prices fall in early Feb.
ELECTRICITY spot market price dropped in early February as supply growth outpaced that of demand in the key Luzon market, the Independent Electricity Market Operator of the Philippines (IEMOP) said.
IEMOP reported that the average price at the Wholesale Electricity Spot Market (WESM) system-wide fell to P3.91 per kilowatt-hour (kWh) in the first two weeks of February, from P4.58 per kWh in January.
Supply rose 4.03% to 18,931 megawatts (MW). Demand, meanwhile, dropped 0.70% to 12,196 MW.
The WESM price in Luzon was P3.79 per kWh, down from P4.29 per kWh in the previous period.
Supply was 13,258 MW, up 5.22%, while demand rose 0.88% to 8,705 MW.
In the Visayas, the spot price fell to P4.42 per kWh during the period, from P6.15 per kWh in January.
IEMOP said supply was 2,186 MW, down 2.97%, while demand declined 5.09% to 1,717 MW.
The average spot market price in Mindanao fell to P3.92 per kWh, from P4.35 per kWh in the preceding period.
Supply increased 4.28% to 3,487 MW while demand fell 3.74% to 1,775 MW.
IEMOP operates the WESM, which is where energy companies can buy power when their long-term contracted power supply is insufficient for customer needs. — Sheldeen Joy Talavera