Power consumers may feel some relief in their December bills as electricity prices in the Wholesale Electricity Spot Market (WESM) eased in November.
The Independent Electricity Market Operator of the Philippines (IEMOP) reported on Wednesday that the average price per kilowatt-hour (kWh) nationwide stood at P3.98 as of 25 November, down from P4.54 per kWh in October.
The drop in electricity prices in November was driven by lower demand and slightly higher available supply across the country.
Total average demand nationwide fell 2.7 percent to 13,507 megawatts (MW) from 13,881 MW in October, while supply edged up 0.5 percent to 19,998 MW from 19,889 MW.
Lower WESM rates historically help bring down overall power costs for distribution utilities and electric cooperatives, which can then be reflected in consumer bills for the following month.
Regionally, the trend followed the national pattern, though with some variations. In Luzon, the average price per kWh dropped 11.1 percent to P3.52 from P3.96, as demand decreased 1.8 percent to 9,598 MW and supply rose 1.9 percent to 14,050 MW.
In the Visayas, electricity prices eased 9.6 percent to P5.29, accompanied by a 7.5 percent decline in demand to 1,797 MW and a slight 0.1 percent drop in supply to 2,418 MW.
Mindanao saw the steepest decline, with prices down 14.9 percent to P4.99 from P5.87, demand falling 2.3 percent to 2,112 MW, and supply decreasing 4 percent to 3,532 MW.
Although WESM’s billing period ends on the 25th, the November rate drop is expected to ease December bills for households and businesses, depending on their utilities’ spot market exposure.