WESM electricity prices drop 3.9% in June

The average price of electricity on the Wholesale Electricity Spot Market (WESM) decreased by 3.9% in June, reaching P3.86 per kilowatt-hour (kWh).

This decline was primarily attributed to stable supply margin levels and a greater drop in electricity demand compared to the decrease in available supply.

System-wide, electricity supply fell by 3.5% while demand decreased by 4.1% during the period of May 26 to June 25.

In Luzon, the average power rate saw a 7.5% decrease to P3.91 per kWh as demand dropped by 5.4%.

Conversely, the Visayas experienced a 4.3% increase in its average power rate, reaching P3.93 per kWh, despite a 2.2% fall in demand.

Mindanao's power prices rose significantly by 13.2% to P3.54 per kWh, driven by a mismatch between lower supply and higher demand.

Two market interventions requiring administered pricing were also recorded during the billing period.

Renewable energy accounted for 21.6% of the generation mix, with coal's share dropping to 57.5% and natural gas increasing to 19%.