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Philippine Power Spot Market Prices Dip 13% in July
Power prices in the Philippines' spot market fell by 13% to P8.31 per kilowatt hour in July, driven by a decline in demand. This price adjustment is expected to be reflected in consumers' August electricity bills.
MANILA, Philippines — Power prices in the country’s spot market eased by 13 percent to P8.31 per kilowatt hour (kWh) in July following a decline in demand. The decrease in the systemwide electricity rates covering the July supply will reflect in consumers’ August bills. READ: Oppressive PH power rates Data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed that among the main islands, Luzon booked the lowest rate at P7.30 per kWh, down 8.2 percent from a month ago’s P7.95 per kWh. Although the Visayas and Mindanao also recorded downward adjustments, they continued to book double-digit levels at P11.29 and P10.39 per kWh. READ: June power bills go up as spot market prices rise IEMOP operates the Wholesale Electricity Spot Market, where producers and distributors trade power to boost supply. /pai
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