ILOILO City – Here’s another good news to residents here. Electricity rates for this month will drop by P0.2410/kWh.
This latest adjustment by MORE Electric and Power Corporation (MORE Power) brings the rate down to a more wallet-friendly P11.4173/kWh from the previous rate of P11.6583/kWh.
This is the seventh consecutive month of consistent downward trend in electricity rates here since January of this year.
Residents can expect the reduced rates to reflect in their bills from July 18, 2023 to Aug. 14, 2023.
A combination of factors is behind the decreasing electricity rates, said Roel Z. Castro, president and chief executive officer of MORE Power.
These are the following:
* introduction of renewable energy sources since March of this year
* decreasing prices of coal in the global market
* dip in electricity prices in the Wholesale Electricity Spot Market (WESM)
“This achievement is a testament to the dedication and patience of our Energy Sourcing team. They continuously source for cost-efficient power generation supply,” said Castro.
Additionally, MORE Power is reminding eligible customers, including members of the 4Ps (Pantawid Pamilyang Pilipino Program) and marginalized end-users, to apply for the lifeline rate discount. This initiative aims to extend a helping hand to electricity consumers, particularly those living below the poverty line.
But while consumers can rejoice in the ongoing decline in electricity rates, caution is advised when it comes to energy consumption.
The prices of coal and electricity in the global market remain unpredictable, making it crucial for consumers to utilize electricity responsibly and efficiently, stressed MORE Power.
With a steadfast commitment to providing affordable and reliable electricity services, MORE Power remains dedicated to empowering the residents of Iloilo City. By prioritizing sustainable practices and exploring alternative energy sources, they aim to make a positive impact on both the environment and the local community./PN
