The Energy Regulatory Commission (ERC) of the Philippines stated that electricity prices may increase due to ongoing tensions in the Middle East. Citing projections from the Independent Electricity Market Operator of the Philippines (IEMOP), the ERC said that prices in the Wholesale Electricity Spot Market (WESM) could climb if global supply disruptions persist. According to the ERC, simulations considered scenarios involving increases in international prices of coal, oil, and liquefied natural gas (LNG), as well as possible supply constraints. The Department of Energy (DOE) said it would appeal to oil companies to stagger price adjustments starting next week. Meanwhile, the Manila Electric Company said it is reviewing its fuel position, particularly its LNG supply, and assessing the potential impact of the Middle East conflict on electricity prices. "This is part of our proactive approach. We conduct stress tests to understand possible risks early and ensure that consumer protection mechanisms are in place should global fuel volatility persist," ERC Chairperson and Chief Executive Officer Francis Saturnino Juan said in a statement. "Our priority is to protect consumers from undue price volatility while ensuring a stable and reliable power supply." Earlier, Donald Trump stated that military operations in Iran would continue until objectives are achieved, adding that three U.S. service members had been killed and more casualties were possible.
