THE Independent Electricity Market Operator of the Philippines (IEMOP) on Tuesday said that the higher average electricity market prices recorded in September will be reflected in the October billing period.
Average electricity market rates increased to P7.43 per kilowatt-hour (kWh) last month from P7.21 per kWh in August due again mostly to supply constraints in the Visayas grid.
Initially, the average electricity rates in August was at P9.29 per kWh but was adjusted to P7.21 per kWh because of the implementation of the secondary price cap, pursuant to the order of the Energy Regulatory Commission (ERC).
Overall, average supply in the Philippines increased to 20,209 megawatts (MW) in September from 19,739 MW in August due to some plants returning from shutdowns.
Meanwhile, average demand also went up to 14,188 MW in September from 13,939 MW in August as temperatures slightly increased with the El Niño period drawing closer.
In terms of island groups, Luzon had an average electricity rate of P5.18 per kWh in September, slightly higher than the average rate of P4.90 per kWh in August due to higher demand.
Meanwhile, its electricity supply was at 15,114 MW in September, higher than 14,493 MW in August, while demand was at 9,899 MW in September, also higher than 9,650 MW in average demand registered in August.
For Visayas, its average electricity market rates was at P12.42 per kWh in September, up from an average electricity rate of P11.81 per kWh posted in August because of low supply in the island group, coupled with the declaration of various red and yellow alerts during the period.
Furthermore, its electricity supply remained unchanged at 2,201 MW in September, while demand increased to 2,099 MW in the same period from 2,094 MW recorded in August.
In Mindanao, the average electricity market rate was at P12.61 per kWh in September, lower from P12.79 per kWh recorded in August due to demand decreasing in the island group.
The electricity supply in Mindanao was at 2,893 MW in September, lower from 3,045 MW in August, while demand was at 2,190 MW in the same period, lower from 2,195 MW back in August.
