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The Independent Electricity Market Operator of the Philippines expects prices at the electricity spot market to increase to a range of P5 to P7 per kilowatt-hour in the dry months starting April 2024.
Manalo said the increased power demand was driven by higher temperature, coupled with the El Nino weather phenomenon that translates to higher electricity prices. IEMOP vice president for trading operations Isidro Cacho they were expecting a demand growth of 6 percent for Luzon, 7 percent for Visayas and 8 percent for Mindanao this year.
“As you all know, there is policy of no maintenance during April, May, June. No plant maintenance. Hopefully, if there is no forced outage, we don’t see any significant increase in prices,” Cacho said.Cacho said that based on IEMOP’s simulation “if there are forced outages of large plants, that would contribute to the possibility of yellow alert.”
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