After four months of decline, electricity prices in the Wholesale Electricity Spot Market (WESM) took a 13.1% jump in October, hitting P4.39 per kWh—thanks to increased demand as the Christmas season nears.
According to the Independent Electricity Market Operator of the Philippines (IEMOP), the rise came as system demand ticked up by 2% while supply dipped due to plant outages. This led to a tighter supply margin, with demand just slightly outpacing available power.
Regionally, WESM rates surged the most in Mindanao, up 49.3%, while the Visayas saw a 30.1% increase. Luzon’s rate rose modestly by 2.4%. Despite the spike, IEMOP expects the prices to stabilize as cooler weather settles in, and supply balances out.
Brace for a merry holiday season—your electricity bill might just be a little brighter!
