By Danessa O. Rivera (The
Philippine Star) | Updated November 1, 2015 - 12:00am
MANILA, Philippines – The country’s
electricity spot market has continued to register a decline in prices as of
end-September due to ample electricity supply.
The Philippine Electricity Market
Corp. (PEMC) said energy purchased from the spot market averaged P2.28 per
kilowatt-hour (kwh) for the September 2015 billing from P5.58 per kwh as of
September 2014.
The monthly effective spot
settlement prices (ESSPs) has been on a downtrend since July 2015, when the
rate declined to P5.59 per kwh from P7.63 per kwh in June. The ESSP in August
was at P4.96 per kwh.
The downtrend is “despite the price
spikes experienced in August due to the forced or maintenance outage of some of
the coal-fired plants,” PEMC noted.
This is because the transaction over
the spot market was only at 8.6 percent compared with bilateral agreements at
91.4 percent, the market operator said.
PEMC operates the Wholesale
Electricity Spot Market (WESM), the country’s trading floor for electricity.
In another development, PEMC also
saw an improvement in the Third WESM Participants’ Satisfaction Survey,
conducted by an independent third-party firm from July 29 to August 28.
Analysis of the final results
revealed an increase in overall performance of PEMC from 3.8 in 2014 to 4.0 in
2015.
The survey likewise reveals that all
rating evaluations by WESM members fall within the satisfactory range, the
market operator said.
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