The Independent Electricity Market Operator of the Philippines (IEMOP) reported that the average electricity spot market price surged by P1.77, or about 22.7%, in June to P9.56 per kilowatt-hour (kWh), according to BusinessWorld.
The price increase was attributed to continued power plant outages in the Visayas, which thinned supply margins and kept overall supply tight. Despite lower demand during the month, the persistent instability in the grid led to higher spot market prices.
IEMOP noted that the supply situation remained challenging, with multiple unplanned outages affecting the region's generation capacity. The higher prices reflect the market's response to the reduced availability of power from affected plants.