Prices at the Wholesale Electricity Spot Market (WESM) are at their lowest since May as the cool weather persists and pushes down peak demand in the Luzon and Visayas grids by more than 500 megawatts below 2019 levels.
According to the Independent Electricity Market Operator of the Philippines (Iemop), which manages the WESM, effective settlement spot prices were continuing to fall in the first week of trading in December, averaging at P1.75 per kilowatt-hour.
From October to November, there was a 10-percent drop to P1.86 per kWh from P2.07 per kWh along with a 9-percent drop in WESM transactions.
At a press briefing, Iemop said this happened as ample generation supply and colde…
Keep on reading: Electricity prices decline as demand softens