ILOILO CITY – Electric consumers in this city have to pay an additional P4.0817 per kilowatt-hour (kWh) in the July billing cycle.
A LINEMAN of MORE Electric and Power Corp. (MORE Power) in Iloilo City. (Tara Yap)
Lone power distributor MORE Electric and Power Corp. (MORE Power) announced that electricity rate this month will be P12.8566 per kWh from P8.7749 per kWh in the June 2024 billing period.
“The average residential rate increase is primarily due to the increase in the generation charge by P3.5739 (for this month),” said MORE Power in statement. The June 2024 generation charge was only pegged at P3.9833.
The increase came after the Energy Regulatory Commission (ERC) deferred last June 13 the collection charges of the Wholesale Electricity Spot Market (WESM).
The order was aimed to mitigate the financial impact on consumers amid the series of red and yellow alerts in the Luzon and Visayas grids during the extreme heat this summer.
“Our average residential rate could have dropped to P11.6625 per kWh in the July billing cycle without the deferment,” explained Niel Parcon, MORE Power Vice President for Corporate Energy Sourcing and Regulatory Affairs.
Despite the increase, MORE Power remains to be one of the cheapest electric power utilities in the Visayas.