IEMOP marks 7th year, spot prices drop to 5-year low

The Independent Electricity Market Operator of the Philippines (IEMOP) marked its 7th year of operations with milestones that signal both stability and transition in the country’s power sector.

Since assuming market operator functions on September 26, 2018, IEMOP has overseen the management of the Wholesale Electricity Spot Market (WESM), promoting transparency and competition while expanding access to reliable energy.

This year, IEMOP reported a significant drop in average spot market prices, which fell to P4.14 per kilowatt-hour in the first half of 2025 — down 26 percent from the previous year and the lowest in five years. The decline comes as the market makes strides in renewable energy integration and more efficient trading systems.

Philippine Electric Power Industry Forum

Key industry gatherings reinforced this direction. In April, IEMOP convened the Market Participants Update in Cagayan de Oro and co-hosted the Philippine Electric Power Industry Forum (PEPIF) 2025 with the Department of Energy (DoE) and the Energy Regulatory Commission.

Discussions centered on accelerating renewable energy adoption under the theme “Accelerating Philippine Renewable Energy Transition through Innovation and Collaboration.”

The DoE also launched the full commercial operations of the Renewable Energy Market (REM) last December, enabling local trading of Renewable Energy Certificates (RECs). As Renewable Energy Registrar, IEMOP has issued more than 52.7 million RECs, with 25.13 percent already retired for compliance with Renewable Portfolio Standards from 2020 to 2022.