Power Prices Spike in Visayas, Mindanao as Supply Tightens

MANILA, Philippines – The average spot market power price could hit P9 per kilowatt hour (kWh) if supply constraints in the Visayas grid persist and the impact of the strong Mindanao earthquake worsens. For May, both Visayas and Mindanao have already seen a steep rise in Wholesale Electricity Spot Market (WESM) rates.