ILOILO CITY – The operation of a 69-kilovolt (69-kV) switching station by power distributor MORE Electric and Power Corp. (MORE Power) is seen to lower electricity prices for consumers here.
“This switching station will certainly play an important role in strengthening MORE Power’s service reliability and in making cheaper rates much more possible for the benefit of all our consumers,” said MORE Power President Roel Castro.
The 69-kV switching station in La Paz district is designed for MORE Power to be able to purchase power supply from the Wholesale Electricity Spot Market (WESM) and the Power Sector Assets and Liabilities Management (PSALM) via the National Grid Corp. of the Philippines (NGCP).
“While WESM prices are highly volatile, it is also noteworthy that on the average, WESM prices are relatively low especially during off-peak periods,” Castro said. For over a year, MORE Power has been getting 70 percent of its power supply from the power plants of Global Business Power (GBP).
This was after MORE Power took over Panay Electric Co. (PECO), which had an existing contract with GBP then.
By May 26, MORE Power will directly connect 100 percent of its needed power supply from WESM, which trades electricity as a commodity.
Jonathan Cabrera, MORE Power spokesperson, clarified that MORE Power can still purchase power supply from GBP if GBP offers competitive prices at WESM.