System-wide electricity spot market prices increased by P1.37 per kilowatt-hour to P6.90 per kWh in April from P5.53 per kWh in March following the imposition of red and yellow alerts amid the high power demand.
The supply margins, equivalent to excess supply plus reserve requirement, were placed at 2,869 MW, significantly lower than the 3,827 MW margins in previous month.“The April 2024 system average price in the WESM is P6.90 per kWh compared to last month’s P5.19 per kWh and it is recorded that 19.68 percent of the trading intervals for this month were subjected to the secondary price cap compared to last month’s 7.04 percent,” IEMOP corporate planning and communications manager Arjon Valencia said.
It said that when the RAGWA falls below P9. per kWh, the regular pricing mechanism resumes without the SEC for upcoming dispatch intervals.