Independent Electricity Market Operator of the Philippines (IEMOP)
MANILA, Philippines — Consumers in the Visayas and Mindanao may see a spike in their electricity bills this month as the spot market reported a surge in power prices, reaching nearly P20 per kilowatt-hour (kWh).
In a media briefing, the Independent Electricity Market Operator of the Philippines (IEMOP) said power traded at the Wholesale Electricity Spot Market (WESM) surged by 64.9 percent to P18.59 per kWh in the Visayas. Mindanao recorded higher rates, reaching P19.56 per kWh, which marks an 88-percent increase from last month’s P10.39 per kWh.
READ: Spot power prices fall to P8.31/kWh in July
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