Power spot market prices in the Philippines increase in May as the Visayas grid faces thin supply conditions and the strong earthquake in Mindanao continues to affect supply and demand. Reporting based on data from the Independent Electricity Market Operator of the Philippines (IEMOP), one outlet says systemwide WESM rates climb by 38.5% to P7.79 per kilowatt-hour (kWh) in May. Another report cites an IEMOP executive who warns that if supply constraints in the Visayas grid persist, average spot market prices could reach around P9 per kWh in the coming weeks. The reports also link the expected further rise to the potential worsening effect of the Mindanao quake on the power situation.
Overall, the coverage attributes the price spike to a mismatch between available generation and demand, with the Visayas experiencing supply tightness and Mindanao’s quake-related impacts adding uncertainty. Both accounts emphasize near-term risk of higher prices if supply conditions do not improve.
