Wholesale Electricity Spot Market

Also known as WESM

The Wholesale Electricity Spot Market (WESM) in the Philippines has seen significant fluctuations in prices recently, with a 15% drop in April and further declines expected in May due to increased supply and stable market conditions. This price reduction is benefiting consumers, particularly Meralco customers who may experience lower electricity rates this month. However, earlier in the year, WESM prices surged during the summer heat, leading to substantial rate increases for some utilities like Cotabato Light and MORE Power Corporation.

This is an AI-generated summary based on recent coverage.
Last updated at May 9, 2025.

Recent stories about WESM

PCCI urges ERC, IEMOP to address WESM defaulters

The Philippine Chamber of Commerce and Industry (PCCI) is urging the Energy Regulatory Commission (ERC) and the Independent Electricity Market Operator of the Philippines (IEMOP) to address parties defaulting on spot market transactions in the Wholesale Electricity Spot Market (WESM).
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Meralco cuts electricity rates by nearly 11 centavos per kWh

Customers of Manila Electric Company (Meralco) will see lower electricity bills this June due to a decrease in generation charges.
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Meralco electricity rates uncertain for June

Manila Electric Co. (Meralco) stated on Thursday that electricity rates for June remain uncertain due to mixed factors affecting overall charges.
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ACEN reports Q1 net income down 28.3% to P1.95B

ACEN Corp., led by Ayala, reported a 28.3% decline in its first-quarter (Q1) attributable net income to P1.95 billion, mainly due to weaker power generation and lower spot market prices.
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FGen reports 4% decline in Q1 net income

Lopez-led First Gen Corp. (FGen) reported a four percent decline in first-quarter net income due to lower geothermal output and market price movements.
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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.
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Meralco raises rates, adds PHP145 for 200 kWh homes

Manila Electric Company (Meralco) announced a PHP0.7226 per kilowatt hour (kWh) increase in electricity rates, raising the charge to PHP13.0127 per kWh for April.
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WESM prices surge 95.5%, Luzon sees 102.7% jump

As summer approaches, the Independent Electricity Market Operator of the Philippines (IEMOP) reported a significant 95.5% increase in wholesale electricity spot market (WESM) prices for March, raising concerns over supply and demand imbalances.
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Raslag Corp. signs 2-yr solar deal with Filinvest unit

Local renewable energy firm Raslag Corp. has signed a two-year power supply agreement with Filinvest's FDC Retail Electricity Sales Corp., selling and delivering 18 megawatt-peak of solar power from its Raslag III project in Mabalacat, Pampanga.
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ERC speeds up PSA approvals for ECs ahead of summer

The Energy Regulatory Commission (ERC) is accelerating approvals of power supply agreements (PSAs) to protect electric cooperatives from fluctuations in the Wholesale Electricity Spot Market (WESM) ahead of summer.
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