Manila, Aug. 6 -- Wholesale electricity prices in the spot market went down in July due to lower demand, with an official of the Independent Electricity Market Operator of the Philippines (IEMOP) expressing hope that this will continue.

In an online briefing Thursday, IEMOP vice president for trading operations, Engineer Isidro Cacho Jr. attributed the lower demand to improvement in weather conditions, with temperatures declining compared to the summer months.

He said drop in prices is particularly big in the Visayas, which have been experiencing yellow and red alert during the summer months because of uptick in demand amidst supply issues.

"Consistent with seasonal demand patterns during rainy months, we are observing a decline in the...