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Manila Bulletin devider Philippines devider Luzon devider Power rates in Iloilo City drop for seventh straight month

Power rates in Iloilo City drop for seventh straight month

Published Jul 20, 2023 03:57 am
ILOILO CITY – Power rates in this city have dropped for the seventh straight month. MORE Electric and Power Corp. (MORE Power) announced a decrease of P0.2410 per kilowatt-hour (kWh) for billings this month to P11.4173/kWh from P11.6583 per kWh in June. “This achievement is a testament to the dedication and patience of our Energy Sourcing team, as they continuously source for cost-efficient power generation supply, the entry of renewable energy, and favorable market conditions," said Roel Z. Castro, president and chief executive officer of MORE Power. Castro said that the continuous drop in electricity rate is attributed to different factors, but one key factor is utilizing renewable energy.  MORE Power has been tapping part of its supply from the geothermal plant of Energy Development Corp. in Leyte. Another factor is the decrease of the global price of coal as well as the cheaper prices of electricity from different sources  in the Wholesale Electricity Spot Market (WESM).

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