Spot power prices fall to P8.31/kWh in July

MANILA, Philippines — Power prices in the country’s spot market eased by 13 percent to P8.31 per kilowatt hour (kWh) in July following a decline in demand.

The decrease in the systemwide electricity rates covering the July supply will reflect in consumers’ August bills.

READ: Oppressive PH power rates

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Data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed that among the main islands, Luzon booked the lowest rate at P7.30 per kWh, down 8.2 percent from a month ago’s P7.95 per kWh.

Although the Visayas and Mindanao also recorded downward adjustments, they continued to book double-digit levels at P11.29 and P10.39 per kWh.

READ: June power bills go up as spot market prices rise

IEMOP operates the Wholesale Electricity Spot Market, where producers and distributors trade power to boost supply. /pai