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Iloilo City electricity rate drops in May

Philippines | Visayas

Iloilo City electricity rate drops in May

By Tara Yap

‎MORE Power linemen in Iloilo City. (Tara Yap)

‎MORE Power linemen in Iloilo City. (Tara Yap)

ILOILO CITY — Relief for consumers here amid high oil prices.

MORE Electric and Power Corp. (MORE Power) reduced electricity rate by P0.27 per kilowatt-hour (kWh) for May.

‎From P12.14/kWH in April, MORE Power’s residential rate dropped to P11.8710/kwH this month.

‎MORE Power’s commercial rate also dropped to P11/kWH in May from P11.27 last month.

‎“We strive to provide our consumers with the best electricity rates despite the challenges we are currently facing,” said MORE Power President and CEO Roel Z. Castro.

‎“MORE Power remains steadfast in ensuring the welfare of Ilonggos by delivering quality and affordable electricity to every household and establishment,” added Castro in a statement.

MORE Power attributed the rate decrease to lower transmission and system loss charges.

MORE Power’s bilateral contracts also cushioned the impact for consumers despite an increase in generation charges to P0.05/kWh. This was attributed to higher prices of coal, increase in shipment costs for imports, and fluctuation in foreign exchange rate.

The price at the Wholesale Electricity Spot Market (WESM) went up to P4.47/kWh.

Consumers were urged to monitor their electricity due to rising heat index. This could lead to higher demand and electricity rates.

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