MANILA - Power prices at the Wholesale Electricity Spot Market have risen in October, which will impact the rates of consumers in the November billing.

From P3.88/kWh in September 2024, the average rate in October shot up to P4.39/kWh. The Independent Electricity Market Operator of the Philippines (IEMOP) says the cause of the spike is likely higher demand leading towards the holiday season.

However, the IEMOP remains optimistic that prices will remain stable for the rest of the year, meaning November and December.

Meralco gets around 30 percent of its supply from the wholesale electricity spot market (WESM) while some electric cooperatives get as much as 50 to 70 percent from the market.

Meralco has yet to announce the direction for its generation charge for November.

ERC ON NGCP RATES

Meanwhile, Energy Regulatory Commission Chairperson Monalisa Dimalanta invited the general public and consumer groups to submit their comments on the rate adjustment of the National Grid Corp of the Philippines.

Dimalanta has confirmed the decision that grants an increase in the overall rate of NGCP but the figure is still not final pending comments from the consumers.

Senator Sherwin Gatchalian had earlier expressed opposition to the decision and asked the ERC to exclude unfinished and non-operational projects in the financial recovery that will be passed on to consumers.

According to Dimalanta, if the commission decides to exclude the unfinished projects from the recovery, the NGCP rate will go down, resulting in a lower transmission charge for consumers.