Power Price Spike

PHILIPPINES - Report 13 Jan 2014 by Romeo Bernardo and Christine Tang
One aspect of the 4.1% December inflation rate announced last week that was expected, yet at the same time surprising, was the increase in electricity prices. It was in part expected because the month-long (November 11 to December 10) maintenance of the Malampaya platform, which supplies natural gas to three major power plants in the Luzon grid with a combined capacity of 2700MW, had been scheduled months ahead and notices were sent out to consumers.In the interim, the three plants had to switch to substitute fuel, which is not only more expensive but together with technical constraints, li...

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