No red alerts expected on Luzon grid during dry months
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Malampaya gas restriction de-rates Ilijan plant s power generation – Manila Bulletin
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Aging power plants and economic growth BusinessWorld 2 hrs ago © Provided by BusinessWorld
At the monthly briefing by the Independent Electricity Market Operator of the Philippines (IEMOP) last week, it was shown that while average demand from March 2020 to March 2021 increased by 3.2%, average supply decreased 7.7%, resulting in an increase in average spot electricity prices by 76.4%, P1.80/kwh higher.
The main reason was the series of plant outages, scheduled and unscheduled, in early, middle, and late March. Among the big power plants that experienced outages last March were Sta. Rita (natgas), Ilijan (natgas), GN Power Mariveles (coal), Sual (coal), Pagbilao (coal), Kalayaan (hydro), Magat (hydro), and Makban (geothermal).
USPLASH
Based on average power demand in the Luzon-Visayas grids for January and February, the Philippines’ first quarter 2021 GDP seems to point to a -5% contraction with a -6.7% power demand contraction in January and a -4.8% contraction in February.
Data from the Independent Electricity Market Operator of the Philippines (IEMOP) further shows that electricity prices at the Wholesale Electricity Spot Market, the customer effective spot settlement price (ESSP) and load-weighted average price (LWAP) remain low in January and February, reflecting low demand relative to supply (see Table 1).
The indefinite lockdown policy of the government, turning exactly one year this coming March 15, remains the single biggest source of business uncertainties and economic contraction.