AVERAGE power prices at the Wholesale Electricity Spot Market (WESM) declined in February due to stable system margins, with supply remaining sufficient to cover demand, according to the Independent Electricity Market Oper-ator of the Philippines (IEMOP).
IEMOP reported that WESM rates system-wide fell 7.8% month on month to P2.73 per kilowatt-hour (kWh) in February.
Between Jan. 26 and Feb. 25, the available supply increased 2% to 20,512 megawatts (MW). Demand rose 3% to 12,904 MW.
“Despite higher demand, the system margin remained stable at 5,725 MW, up 1.3% from the previous month. This led to a 7.8% drop in the system average price to P2.73 per kWh,” Arjon B. Valencia, manager for corporate planning and com-munication at IEMOP, said via Viber.
For Luzon, prices fell 9.1% month on month to P2.71 per kWh, with supply rising 3.7% to 14,475 MW while demand grew 3.8% to 9,071 MW.
The WESM rate in the Visayas dropped 10.2% month on month to P2.81 per kWh as the supply margin increased 14.5% to 458 MW, off a supply improvement of 1.1% to 2,397 MW during the period. Demand rose 1% to 1,876 MW.
The Mindanao average price rose 2.6% year on year to P2.72 per kWh as demand growth outpaced that of supply.
Available power supply fell 3.6% month on month to 3,640 MW. Demand, on the other hand, rose 1.3% to 1,956 MW.
During the period, coal remained the primary energy source, accounting for 55.8% of power generated, Mr. Valencia said. This is followed by renewables, natural gas, and oil.
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
