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Brix Lelis - The Philippine Star
February 5, 2026 | 12:00am
Based on IEMOP data released yesterday, the system-wide Wholesale Electricity Spot Market (WESM) rate fell by 18.6 percent to P3.56 per kilowatt-hour in January from the previous month’s P4.38 per kWh.
STAR / File
MANILA, Philippines — Following recent spikes, electricity prices in the country’s power spot market declined in January due to improved supply margins, according to the Independent Electricity Market Operator of the Philippines.
Based on IEMOP data released yesterday, the system-wide Wholesale Electricity Spot Market (WESM) rate fell by 18.6 percent to P3.56 per kilowatt-hour in January from the previous month’s P4.38 per kWh.
Although overall supply went down by 5.3 percent to 19,152 megawatts, this was more than offset by a sharper 7.1-percent drop in demand, which decreased to 12,492 MW.
The lower WESM prices in January will be reflected in power generation charges of consumers this month.
By region, average spot prices rose in Luzon but declined sharply in Visayas and Mindanao.
WESM rates in Luzon increased by nine percent to P3.25 per kWh from P2.98 per kWh on a monthly basis due to tighter supply margins caused by forced outages of coal and natural gas units.
The region’s supply fell by 8.3 percent to 13,228 MW from 14,422 MW, while demand dropped by eight percent to 8,574 MW from 9,324 MW.
For Visayas, prices tumbled by 41.2 percent to P4.24 per kWh from P7.22 per kWh as demand sank by 5.9 percent to 1,861 MW from 1,978 MW.
This was enough to equalize the 6.4-percent drop in supply to 2,361 MW from 2,524 MW.
Mindanao WESM prices plunged even more sharply, going down by 45.5 percent to P4.27 per kWh from P7.82 per kWh.
For the summer months, IEMOP vice president for trading operations Isidro Cacho Jr. expects supply-demand conditions to improve compared to last year.
He pointed to the Energy Regulatory Commission’s recent approval of a contract extension between Manila Electric Co. and a major gas facility in Batangas, along with the entry of new power plants.
Cacho, however, did not rule out the possibility of yellow and red alerts during the period, as power demand typically rises amid the hotter temperatures.
