Composite image from Inquirer file
MANILA, Philippines — The forced shutdowns of several coal power plants in the Visayas and Mindanao have led to record-high spot power prices, with consumers set to pay more for their electricity bills this month.
In a media briefing, Independent Electricity Market Operator of the Philippines (IEMOP) said power traded at Wholesale Electricity Spot Market (WESM) surged by 64.9 percent to P18.59 per kilowatt-hour (kWh) in the Visayas.
Higher rates were booked in Mindanao, hitting P19.56 per kWh, an 88-percent jump from a month ago’s P10.39 per kWh.
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