ILOILO CITY – Residential consumers of the More Electric and Power Corporation (MORE Power) can expect an increase in their billing cycle this July due to the hike in generation charges.
From last month’s PHP8.7749 per kilowatt-hour, the average residential rate will increase to PHP12.8566 per kWh.
“Generation rate is up by PHP3.5739 from the previous rate of PHP3.9833 in June to PHP7.5572 this month," MORE Power said in a statement on Friday.
The utility provider, with over 90,000 accounts, said the increase was triggered by the “artificial low rates” in June when the Wholesale Electricity Spot Market (WESM) charges were deferred in compliance with the order of the Energy Regulatory Commission (ERC) on June 13, 2024.
Niel Parcon, Vice President for Corporate Energy Sourcing and Regulatory Affairs (CESRA) of MORE Power, said that without the deferment, the residential rate in June would have been PHP11.8642 per kWh, a slight increase from PHP11.3263 per kWh rate in May.
“Our average residential rate could have dropped to PHP11.6625 per kWh in the July billing cycle without the deferment,” Parcon said in the same statement.
Amid the increase, the power rate in Iloilo City remains competitive as MORE Power still maintains the lowest rate compared with other distribution utilities in Western Visayas.
Available data showed that the average residential rate of the Iloilo 2 Electric Cooperative (ILECO 2) is PHP16.25 per kWh, ILECO 3 has PHP13.32 per kWh, Capiz Electric Company has PHP14.62 per kWh, Central Negros Electric Cooperative charges PHP13.36, and Negros Occidental Electric Cooperative has PHP16.13.
MORE Power said its distribution, supply, and metering charges remain unchanged at PHP2.337 per kWh. (PNA)
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