The average power demand fell 6.2 percent in August to 12,272 megawatts from 13,082 MW in July following the imposition of the enhanced community quarantine in Metro Manila to stem the increase in COVID-19 infections, the Independent Electricity Market Operator of the Philippines said Friday.
IEMOP said it also observed lower spot prices in August as the nation experienced intermittent rain and thunderstorms along with the imposition of varying levels of quarantine restrictions. The average price at the Wholesale Electricity Spot Market dropped to P5.39 per kilowatt-hour as of Aug. 18 from P6.52 per kWh in July. IEMOP operates WESM, the trading floor of electricity.
“There was also an increase in average supply for August in comparison to the previous month by 6.2 percent or 801 MW,” IEMOP said.
Regional peak demand in Luzon declined to 10,154 MW in August from of 11,049 MW in July.
IEMOP expects a peak demand of 11,322 MW in Luzon in the months of September to December.
It said there would be enough power capacity during the Malampaya natural gas field shutdown on Oct. 2 to 22 which would affect the delivery of power from natural gas power plants.
The October demand is seen to reach 13,655 MW, versus the supply of 15,807 MW with margins of 2,152 MW. With enough supply, IEMOP said it does not expect price spikes due to the Malampaya shutdown.
“Supply levels are generally sufficient to support the demand requirement,” IEMOP said.
IEMOP is a non-stock, non-profit corporation governed by a professional board of directors composed of individuals not affiliated with any of the electric companies that trade in the spot market.