DAVAO CITY (MindaNews / 2 Aug)—Consumers in Davao City may expect electricity rates to stabilize as the price of coal in the world market has gone down, an executive of […]
DAVAO CITY —Consumers in Davao City may expect electricity rates to stabilize as the price of coal in the world market has gone down, an executive of the Aboitiz-owned Davao Light and Power Company said.Rodger S. Velasco, DLPC president and chief operating officer, told “Wednesdays Media Forum at Habi at Kape” that the world market price of coal saw a downturn beginning January this year from the time when the armed conflict between Ukraine and Russia escalated early last year.
He said at the onset of the Ukraine-Russia war, the price of coal skyrocketed to about US$400 per metric ton from US$60-US$80 per MT before tensions escalated between the two nations.“It’s not yet normal but it is cheaper than last year’s US$400. That drives down our rate,” he said. He said the law of supply and demand drives the movement of the prices in the WESM, and with excess supply, generators sell power to the grid at lower cost to the utilities.
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