10/02/2026
Luzon Power Update: A 9% increase in spot prices for January.
While the rest of the country saw a drop, the Luzon grid (including Regions 1 and 2) saw average WESM prices rise to ₱3.25/kWh this past month.
Why the hike? Even though we used less electricity due to the cooler weather (demand was down 8%), several major coal and gas plants in Luzon went on forced or scheduled maintenance. This "supply squeeze" meant more expensive fuel sources had to be used to keep our lights on.
Following recent spikes, electricity prices in the country’s power spot market declined in January due to improved supply margins, according to the Independent Electricity Market Operator of the Philippines.