Luzon Wholesale Electricity Prices Surge 51% in October — November Electricity Bills Likely to Rise

Luzon Wholesale Electricity Prices Surge 51% in October — November Electricity Bills Likely to Rise

📌 On Wednesday, November 11, the electricity market operator (IEMOP) announced that the average Luzon Wholesale Electricity Spot Market (WESM) price for October was 7.83 pesos per kWh, up 51.2% from September (5.18 pesos). ABS-CBN reported that, because of the weaker peso and higher power costs from suppliers, many consumers in Luzon are likely to see higher electricity rates on their November bills.

■ What's Changing
· IEMOP cited rising power demand and reduced supply margins in Luzon due to scheduled and forced outages at power plants as the causes. Average demand in October rose 4.3% to 14,793 MW.
· Visayas (11.19 pesos per kWh, down 9.9%) and Mindanao (11.06 pesos, down 12.3%) fell, while the national average rose 18.4% to 8.79 pesos.
· IEMOP said the impact would not be significant because Meralco buys little of its power on the spot market, but a Meralco spokesperson said overall rates could still go up due to the weaker peso in October and higher imported fuel costs for power generators (ABS-CBN).

■ Tips for Residents and Travelers
· When you receive your November bill, compare it with last month's charges and usage.
· Cutting back on usage, such as setting your air conditioner a little higher, can help ease the impact of the increase.

■ Sources
Manila Bulletin (11/11), ABS-CBN News (11/11)

■ Photos
· 1. File photo · A staff member of the electricity market operator at a market monitoring screen — Manila Bulletin
· 2. File photo · High-voltage transmission towers and power lines — ABS-CBN News
· 3. File photo · An electrical worker working on a utility pole meter — ABS-CBN News