WESM prices fall 7.8% in Feb due to stable supply

Wholesale Electricity Spot Market (WESM) prices in February declined by 7.8% month-on-month to P2.73 per kilowatt-hour, according to the Independent Electricity Market Operator of the Philippines (IEMOP), due to stable system margins and sufficient supply.

Despite a 3% increase in demand, available supply rose 2% to 20,512 megawatts, maintaining a stable system margin at 5,725 MW, which contributed to lower electricity prices.

In Luzon, WESM rates fell by 9.1%, while in Visayas they dropped by 10.2%. Mindanao saw a slight increase of 2.6% year-on-year due to higher demand growth compared to supply.

Coal was the primary energy source at 55.8%, followed by renewables, natural gas, and oil, according to IEMOP's Arjon B. Valencia.