iThe Independent Electricity Market Operator of the Philippines monitored a more than P1-per-kilowatt hour increase in electricity prices at the spot market in the first two weeks of May on increased demand amid higher temperature.
IEMOP said in its latest report the average price at the Wholesale Electricity Spot Market for Luzon and Visayas grid rose to P8.78 per kWh from P7.69 per kWh in April and P6.57 per kWh in March.
The WESM operator said that the secondary price cap was imposed from May 7 to May 11 because of sustained high prices brought by forced outages.
Luzon’s peak demand reached 12,417 MW on May 9, higher than the peak demand in May last year of 12,103 MW.
IEMOP said the average supply went up to 14,788 MW in May from 14,665 MW in April, and the supply margins were tighter in May at 2,306 MW from 2,943 MW in April amid lower reserves. Alena Mae S. Flores