Manila, March 26 -- The Energy Regulatory Commission (ERC) on Thursday announced the temporary suspension of operations of the Wholesale Electricity Spot Market in all three grids in the country to help address the energy supply risk and price volatility due to the ongoing conflict in the Middle East.

This is in line with Malacanang's issuance of Executive Order (EO) 110 on Tuesday, declaring a state of national energy emergency on account of the global oil supply disruption, which has resulted in a surge in global oil prices.

ERC, in a statement, said it received a letter from the Department of Energy (DOE) on Wednesday recommending the suspension of WESM operations in Luzon, Visayas, and Mindanao, effective Thursday.

"Accordingly, th...