June WESM prices rise to P9.01/kWh amid thin supply - BusinessWorld Online

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The Independent Electricity Market Operator of the Philippines (IEMOP) said the Wholesale Electricity Spot Market (WESM) price averaged P9.01 per kilowatt hour (kWh) in June, up from P6.42 a month earlier, due to thinning supply. READ:

“WESM is… largely dependent on the supply-demand situation and in our presentation earlier we have shown you decrease in terms of the supply margin because of forced and planned outages June billing period,” IEMOP Corporate Communications OIC Manager Josell F. Co said.

Month on month, average supply dropped by 192 MW or 1.25%, average demand rose 66 MW or 0.59% while the supply margin decreased 258 MW or 6.22%. Recently, Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany, began annual maintenance on Monday, with deliveries scheduled to halt for 10 days, tightening the gas market.

 

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