IEMOP reports 15% drop in WESM prices before midterms

The Independent Electricity Market Operator of the Philippines (IEMOP) reported a 15 percent decline in Wholesale Electricity Spot Market (WESM) prices ahead of the 2025 midterm elections, with prices dropping from P5.34 per kilowatt-hour to P4.52/kWh due to fewer planned outages and increased supply.

In April, demand grew by 7.8% to 14,739 megawatts while supply rose by 8.8% to 21,345 MW across Luzon, Visayas, and Mindanao, with Luzon experiencing a 16.5 percent drop in WESM prices from P5.50/kWh to P4.59/kWh.

IEMOP assured that stable WESM prices will continue through May and beyond the elections due to robust electricity supply, with Isidro Cacho Jr., IEMOP's head of corporate strategy and communications, stating in a briefing on Tuesday, May 6, that market prices are expected to remain around P4-P5 per kilowatt-hour.

The DOE and Energy Task Force Election (ETFE) reported significant improvements from transmission system upgrades like the Cebu-Bohol Interconnection Project and new renewable energy projects coming online, contributing to a stable electricity supply for the next six months.

Meralco, the country's largest private distribution company, expects a potential reduction in generation and transmission charges for May due to lower WESM prices and reserve market prices.