Power rates on the rise

Spot market prices for electricity have in fact risen this month despite ample supply as consumers use their air conditioning units and other cooling appliances more often to beat the summer heat, said the Independent Electricity Market Operator of the Philippines. — Bloomberg

MANILA: Filipino consumers have to brace for higher power rates as consumption jumps due to rising temperatures.

Spot market prices for electricity have in fact risen this month despite ample supply as consumers use their air conditioning units and other cooling appliances more often to beat the summer heat, the Independent Electricity Market Operator of the Philippines (Lemop) says.