Cheaper Power Ahead: WESM Prices Drop in November
- December 18, 2025
Consumers are getting some good news heading into the holidays as the average electricity power price at the Wholesale Electricity Spot Market (WESM) decreased by ₱0.56 per kilowatt-hour (kWh) in November, settling at ₱3.98/kWh from ₱4.54/kWh in October. The rise in power supply, coupled with easing demand across the country, is responsible for this welcome development, according to the Independent Electricity Market Operator of the Philippines (IEMOP).
System-wide supply climbed to 19,998 megawatts (MW) in November, up 0.5 percent from the previous month, the IEMOP said. In contrast, average demand dipped 2.7 percent to 13,507 MW, widening the supply margin to 4,572 MW from 4,002 MW in October.
“This combination resulted in lower market prices of ₱3.98 per kWh, down from ₱4.54 per kWh in the previous month,” said Arjon Valencia, IEMOP’s manager for corporate planning and communications.
Regional Price Movements
All three major grids mirrored the national trend of easing electricity prices. In Luzon, spot prices dropped to ₱3.52/kWh from ₱3.96/kWh, supported by higher available capacity and subdued demand.
In the Visayas, prices fell to ₱5.29/kWh from ₱5.85/kWh, while Mindanao posted a sharper decline to ₱4.99/kWh from ₱5.87/kWh, aided by increased import volumes from the Visayas.
Impactful Grid Events
Several grid events also influenced market conditions during the month. On November 4–5, the Energy Regulatory Commission (ERC) suspended market operations in the Visayas Grid after multiple power plant outages and limited export capacity led to overgeneration.
Later, on November 10, the system operator implemented market intervention in Luzon following a steep drop in demand brought by Super Typhoon Uwan.
Further interventions were carried out in the Visayas on November 11 and 12 to stabilize the grid through manual load dropping and to prevent overloading of the Cebu–Mandaue Line 2
A Noticeable Shift In The Energy Mix
Coal’s share in power generation continued to decline, slipping from 56.5 percent to 53.6 percent in November. Natural gas expanded its contribution to 19 percent from 16 percent, offsetting much of the coal reduction.
Oil-based generation also edged down from 0.8 percent to 0.5 percent. Renewable energy (RE) sources held steady at around 26 percent of the total mix.
Within that, wind generation nearly doubled to 1.7 percent, boosted by the onset of the Amihan season. Solar and hydro output slightly eased to 3.9 percent and 11.1 percent, respectively, while geothermal rose to 8.2 percent.
Market Volume and Reserves
Spot market transactions accounted for 12.3 percent of total metered quantity, down from 13.4 percent in October. Consequently, the total trading value slipped from ₱14.09 billion to ₱13.13 billion.
Reserve market activity also cooled, with procurements dropping from ₱5.68 billion in October to ₱4.10 billion in November, as zonal reserve prices fell across all regions — except for a slight increase in regulation-up reserves in the Visayas and contingency reserves in Mindanao.
Sources:
https://manilastandard.net/business/314678857/wesm-price-drops-to-p3-98-kwh-in-november.html
