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Manila Bulletin devider Business devider Trade & Industry devider IEMOP: Spot market prices hit seven-month low in September

IEMOP: Spot market prices hit seven-month low in September

Published Oct 6, 2025 03:46 pm
The Independent Electricity Market Operator of the Philippines (IEMOP) said average spot market prices hit a seven-month low in September.
In a statement on Monday, Oct. 6, IEMOP reported that the average price at the Wholesale Electricity Spot Market (WESM), dropped by 33.8 percent to ₱3.04 per kilowatt-hour (kWh).
IEMOP explained that there were no major plant outages during the September billing period, allowing available supply to inch up by 0.5 percent to 20,712 megawatts (MW). Meanwhile, system average demand slightly declined by 2.9 percent to 13,640 MW.
The market operator clarified that while several power plants were shut down following the 6.9-magnitude earthquake in the Visayas last Sept. 30, the impact of these outages will be reflected in the October billing period.
In September, Visayas and Mindanao recorded the steepest decreases in spot market prices among the regions, both falling by 37.1 percent.
Prices in Visayas dropped from ₱6.40 to ₱4.02 per kWh, while those in Mindanao slid from ₱6.66 to ₱4.19 per kWh.
Visayas also saw the largest demand decrease in September, from 2,027 MW to 1,945 MW. Its supply for the month was up by 1.5 percent to 2,440 MW.
Mindanao’s demand stood at 2,100 MW, while its available supply was at 3,592 MW.
Luzon, on the other hand, saw a 31.7-percent price decrease from ₱3.76/kWh to ₱2.57/kWh. The region’s demand eased by 2.9 percent from 9,882 MW to 9,595 MW, while its supply marginally grew from 14,646 MW to 14,681 MW.
“Prices [in Luzon] dropped significantly due to lower demand and higher supply, even with increased power exports through the HVDC [high voltage direct current],” IEMOP explained.
WESM prices influence how much distribution utilities (DUs) pay for the power they supply to end-users. In this case, the price decreases in the three regions last month could help bring down electricity bills this month.
Meanwhile, renewable energy (RE) had a 26-percent share of overall power generation in September, as the share of hydropower generation rose to 13.5 percent following the onslaught of typhoons. Solar and geothermal, on the other hand, dropped last month.
Coal’s share in the power generation mix rose to 55.1 percent last September, while natural gas declined from 22 percent to 17 percent, and oil-based generation slipped from 0.9 percent to 0.5 percent.
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