WESM wholesale electricity prices in Luzon

The Luzon grid carries the largest share of Philippine demand, including Metro Manila, and has the deepest pool of generating capacity bidding into the market. The figures below are the wholesale spot prices published by the Independent Electricity Market Operator of the Philippines for grid region CLUZ, one row per trading day.

On 25 September 2026, the average wholesale spot price for Luzon was ₱6,588.99 per MWh — 19.2% lower than the previous trading day held (₱8,154.27 per MWh on 24 September 2026). Day-to-day moves of this size are ordinary in a spot market and say nothing on their own about where retail rates are going.

Recent trading days

How the spot market works

The Wholesale Electricity Spot Market (WESM) is where electricity is bought and sold in the Philippines before it reaches a distribution utility or an electric cooperative. Generators offer output, demand is met from the cheapest available offers, and a price is cleared for every five-minute dispatch interval. The market is operated by the Independent Electricity Market Operator of the Philippines (IEMOP), which publishes the resulting prices.

Samirla stores one row per grid region per trading day: the average price across that day's intervals, the cheapest and dearest single interval, and how many intervals were published. Prices are held in pesos per megawatt-hour, the unit IEMOP publishes, with the per-kilowatt-hour equivalent stored alongside so it lines up with retail series. No figure on these pages is modelled, smoothed or forecast.

The grid regions are IEMOP's own: CLUZ for Luzon, CVIS for the Visayas, CMIN for Mindanao, and SYSTEM for the market-level figure across the interconnected grid.

Two timing points matter when reading any WESM figure. Settlement runs roughly three to four weeks behind the trading day, and IEMOP's published window is a rolling period of about two months, so the newest trading day held here is normally several weeks old and the archive builds up over time rather than reaching back indefinitely. Every price on this site is labelled with the trading day it belongs to for that reason.

How wholesale prices reach a bill

Spot prices are not a bill, but they are not disconnected from one either. The generation charge on a Philippine electricity bill is a pass-through: the distribution utility recovers what it paid for energy, part of which is bought on the spot market and part under bilateral supply contracts at agreed prices. A month of high spot prices therefore tends to show up later, partially and diluted, in the generation component of bills — how much depends on how much of that utility's supply was contracted rather than bought on the spot market, and on regulatory timing.

That is why the two series are worth watching together but never worth confusing. Spot prices move daily and can swing violently; retail rates move monthly and are far smoother. Samirla also tracks the Meralco residential effective rate as a separate monthly series, and measures how strongly retail electricity moves with commodity prices on its electricity correlation page.

Other grid regions

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