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Manila Bulletin devider Business devider The Economy devider MORE Power lowers May rates despite rising generation costs

MORE Power lowers May rates despite rising generation costs

Published May 18, 2026 04:20 pm

MORE Electric and Power Corp. (MORE Power), backed by tycoon Enrique K. Razon Jr., is providing financial relief to its customers through reduced electricity rates for May.

MORE Power reported that its residential rate for May dropped to ₱11.8710 per kilowatt-hour (kWh), down from ₱12.14/kWh in April. Commercial rates similarly fell to ₱11/kWh from last month’s ₱11.27/kWh. The rate adjustment is expected to cushion the impact of upward pressure on global commodity prices stemming from the ongoing crisis in the Middle East.

The downward movement in retail rates was primarily attributed to a lower transmission charge, which declined by ₱0.26/kWh compared to the previous month. The system loss charge was also trimmed by ₱0.027/kWh, reflecting the transmission adjustment, while overall system loss improved from 5.37 percent to 5.2 percent.

The rate reduction came despite an uptick in the generation charge, which rose by ₱0.05/kWh due to higher global coal prices and increased freight costs associated with fuel imports.

Elevated consumer price index (CPI) inflation and foreign-exchange (forex) fluctuations also pushed generation costs upward, while prices in the Wholesale Electricity Spot Market (WESM) climbed to ₱4.47/kWh.

Despite the spike in generation costs, MORE Power managed to lower final consumer rates by sourcing cheaper electricity under its bilateral supply contracts.

“We strive to provide our consumers with the best electricity rates despite the challenges we are currently facing,” said Roel Z. Castro, MORE Power president and chief executive officer (CEO). “MORE Power remains steadfast in ensuring the welfare of Ilonggos by delivering quality and affordable electricity to every household and establishment.”

The rate cut provides a welcome financial respite as Iloilo City’s residents contend with rising prices of basic goods and services. MORE Power noted that the adjustment reflects its ongoing commitment to easing the financial burden on families and businesses in the city.

However, Castro urged consumers to remain vigilant during the dry season.

“As the heat index rises this summer, consumers are encouraged to practice mindful electricity use, since greater appliance demand can lead to higher bills,” Castro added.

Looking ahead, the company is closely monitoring price and supply conditions into June after National Grid Corp. of the Philippines (NGCP) issued a series of yellow and red alerts, signaling potential supply shortages relative to peak demand.

MORE Power reaffirmed that it is taking proactive measures to maintain reliable service and stable power supply for Ilonggos amid tight grid conditions. - Gabriell Christel Galang

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