Inquirer
Spot electricity rates jump due to power outages
Wholesale electricity prices in the Philippines climbed by 15.3% in August to P4.59 per kilowatt-hour (kWh) from P3.99/kWh in July, driven by plant outages and increased demand.
System-wide demand rose by 1.7% to 14,052 megawatts (MW), while supply decreased by 0.7% to 20,611 MW.
The Visayas region experienced a significant price increase of 45.7% to P6.40/kWh due to a 5% drop in supply, while Mindanao saw an even steeper rise of 75.4% to P6.66/kWh, also attributed to weaker supply.
In contrast, Luzon saw a 4.1% decrease in spot market prices to P3.76/kWh as supply slightly increased.
Consumers can expect the higher generation charges to reflect in their September electricity bills.
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