There is a general perception that the generation rates of the National Power Corporation (NPC) is lower than the spot prices in the Philippine wholesale electricity spot market (WESM). However, based from the analysis of Nick Nichols of Asian Energy Advisors, the prices in the WESM for the first two years of operations are actually lower by an average of 12% than the state-ran power generator.
Such a revelation, for me, does not come as a surprise. Because as I often said to some colleagues in the power industry that only WESM price could beat the "subsidized rate" of NPC. Currently, no one among the present batch of retail electricity suppliers (RES) and wholesale aggregators could match NPC's effective rates.
Going back to Nick's analysis, here look at the chart I copied from his blog site. For more data, follow this link: http://www.editgrid.com/user/nicknich3/NPC_Effective_Rates.
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