Electricity market suspended to avoid spike in power bills

by Catherine S. Valente - Ed Paolo Salting

May 02, 2024 12:21 am

THE Energy Regulatory Commission (ERC) has temporarily suspended the operation of the Wholesale Electricity Spot Market (WESM) during red alerts to mitigate the anticipated increase in electricity prices, President Ferdinand Marcos Jr. said Wednesday.

In his speech during a Labor Day event in Malacañang, Marcos said the ERC declared the suspension of WESM operations based on notices issued by the system operator, the National Grid Corp. of the Philippines (NGCP).

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