Power spot market trading suspendedOil crisis seen to push electricity cost by P5/kWhMANILA, Philippines — The Energy Regulatory Commission (ERC) has suspended spot market electricity trading as the global oil crisis threatens to push power prices higher by over P5 per kilowatt-hour (kWh). In effect, a temporary pricing mechanism will be implemented for power purchased from the Wholesale Electricity Spot Market (WESM) during the suspension. The administered prices aim to protect consumers from sudden spikes while keeping power generators financially viable to sustain reliable electricity supply, the ERC said. Amid surging fuel prices, the Independent Electricity Market Operator of the Philippines estimates that power from WESM could exceed P9 per kWh, more than double the P3.50 per kWh recorded in February. At the same time, power supply from bilateral contracts is also expected to rise due to higher fuel costs.

Source: Philippine Star March 26, 2026 16:39 UTC