An economist said that the economy may benefit from the lowering of the price cap of the Wholesale Electricity Spot Market (WESM) from P62 to P32, but he noted that it might only give people “temporary relief” as the pricing is still exposed to volatility.
The WESM is the trading market of electricity power in the Philippines where suppliers, which are the power plants, and retailers such as the Manila Electric Co. (Meralco), negotiate electricity supply and pricing.
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