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Manila Bulletin devider Business devider MORE Power provides one-time refund to customers

MORE Power provides one-time refund to customers

Published Nov 18, 2023 04:12 am

At A Glance

  • MORE Power, a power distribution utility in Iloilo City, announced a one-time refund for customers.<br>Customers will receive a rate reduction of P2.7644 per kilowatt-hour (kWh) in their bills from November 18 to December 14.<br>The refund covers accumulated differences in the billed amount within the first nine months of 2023.<br>The refund applies to all consumer classes, including residential, commercial, industrial, and government accounts.<br>Households consuming 200 kWh will see a reduction of P550 in their electrical bills.<br>The refund complies with the Energy Regulation Commission (ERC) rules.<br>The billing, including generation and transmission charges, is based on the previous month's prices.

Razon-led power distribution utility MORE Electric and Power Corp. (MORE Power) announced a one-time refund that will benefit consumers in Iloilo City.

In a statement, MORE Power said its customers will receive a rate reduction of P2.7644 per kilowatt-hour (kWh) in their bills from billing cycles Nov. 18 to Dec. 14.

This shoulders the accumulated differences in the billed amount within the first nine months of 2023.

Niel V. Parcon, MORE Power vice president for corporate energy sourcing and regulatory affairs (CESRA), stated that “Starting January 2023, over or under-recoveries have accumulated to P141 million.”

The collected one-time refunds will benefit all consumer classes, the electric company said.

This includes the residential, commercial, industrial, and government accounts.

Subsequently, households who consume 200 kWh will benefit from the P550 reduction in their electrical bills.

The energy corp. clarified that the one-time refund of pass-through charges comply with the Energy Regulation Commission (ERC).

According to Parcon, the action for the rebates is in line with ERC’s Resolution Adopting the Revised Rules Governing the Automatic Cost Adjustment and True-up Mechanisms and Corresponding Confirmation Process for Distribution Utilities.

“Our billing, including generation and transmission charges, is billed to our customers based on the prices of the previous month,” he explained.

MORE Power VP added that they pay their energy suppliers based on the rate of the month. (Gabriell Christel Galang)

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MORE Power Iloilo City
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