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Manila Bulletin devider Business devider Trade & Industry devider Philippine spot power prices jump 49% on quake, storm impact

Philippine spot power prices jump 49% on quake, storm impact

Published Nov 6, 2025 12:12 pm
Consumers may see an increase in their electricity bills this month after prices on the Wholesale Electricity Spot Market (WESM) surged following recent earthquakes and inclement weather.
The Independent Electricity Market Operator of the Philippines (IEMOP) reported on Thursday, Nov. 6, that system-average prices jumped 49.4 percent in October, climbing to ₱4.54 per kilowatt-hour (kWh) from ₱3.04/kWh.
The price spike was attributed to lower average supply, said Rica Cagnayo, market simulation and analysis staff member at IEMOP. Average supply in October stood at 19,889 megawatts (MW), down from 20,712 MW the prior month.
Cagnayo noted that the recent Cebu earthquake and tropical cyclones caused some power plants to trip offline that impacted the Visayas region, where prices rose due to limited power flow from Luzon.
Prices in Mindanao also increased because of higher power export flows to the Visayas.
Despite the recent rise, IEMOP Vice President of Trading Operations Isidro Cacho Jr. explained that similar price increases are a recurring trend for the season.
“Historically, October is when economic activities are high because we’re preparing for Christmas. But if you look at the trend, in November and December, demand goes down because it’s colder and vacations are longer,” Cacho said at the briefing.
He admitted that the combination of natural events and supply-demand factors impacted the market: “Aside from supply and demand, we experienced earthquakes, and we had typhoons... It really impacted the market, but we addressed it immediately.”
Cacho noted the Energy Regulatory Commission (ERC) issued a market suspension to mitigate the risk of even higher prices.
Cacho further assured that spot market prices should eventually decline as demand eases after October. “We don’t see any spike in prices, as the trend would be lower towards November until January.”

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Independent Electricity Market Operator of the Philippines (IEMOP) Wholesale Electricity Spot Market (WESM)
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