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MANILA, Philippines – Wholesale electricity prices rose sharply in the June billing period as tighter power supply pushed up rates across all major grids, with the Visayas recording the biggest increase.
On Thursday, data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed the system-wide average Wholesale Electricity Spot Market (WESM) price climbed 22.7 percent to P9.56 per kilowatt-hour (kWh) for the June billing period (May 26 to June 25), from P7.79 per kWh previously.
READ: Visayas, Mindanao WESM rates soar amid thin power supply
The increase came as average supply slipped 1.1 percent to 21,133 megawatts (MW), while average demand eased 1.9 percent to 15,454 MW.
