SO YOU’RE wondering; when did more become less?
More becomes less when the electricity rates of MORE Power decreases or goes down.
I suppose it’s quite understandable you’re caught up in all that Christmas, New Year and Dinagyang frenzy celebrations that you didn’t notice the power rates have gone down four times in fact since November of last year to February this year, and still going down – not as dramatic as we wanted but nevertheless it is going down.
Let’s check out these excerpts from the Feb. 27, 2023 issue of Panay News:
Electricity rates continue to decrease in Iloilo City
Residents of this city have been enjoying a continuous drop in their electricity bills for the past three months.
This trend started when MORE Electric and Power Corporation (MORE Power), the sole power distributor in this city, reduced the total average rate from P14.84 per kilowatt-hour in the November 2022 billing to P14.68/kWh in December – a reduction of 15 centavos.
The downward trend continued this January, with a reduction of 53 centavos per kWh.
This month, MORE Power further reduced the rates by another 50 centavos, bringing the total reduction to P1.20 since December.
The total average rate of residential consumers in Iloilo City as of today is P13.64 per kWh.
The decrease in generation charges is attributed to the lower price of coal in the world market and Wholesale Electricity Spot Market (WESM) which has been declining in the past months.
MORE Power’s Vice President for Corporate Planning and Regulatory Niel Parcon said the reduction in fuel prices of coal-fired generation companies was due to the continued decline in the Newcastle index, which determines the price of coal in the world market.
“This also proves what we were saying before – that the price of coal in the world market greatly influences our generation charge and total average rate. If it increases, our rate increases. If it gets lower, our rates will decrease,” Parcon further explained.
This just proves that the price of electricity is greatly affected by geopolitics and the volatile power open market and not the barber shop gossip of the usual suspects.
Of course, we’re hoping that this trend continues and from all indications it probably will, so the natives of “I Am Iloilo City” can expect a more stable and affordable supply of electricity in the coming months.
Take note that this decrease in electricity rates does not even include yet MORE Power’s 20-megawatt geothermal power supply contract with the Energy Development Corp, which is much lower than the coal-based supply.
And when that kicks in then we can expect a sort of dramatic decrease in our monthly electric bill by March. Maybe I’m speaking too soon. Hopefully not. The sooner it comes the better.
This is what MORE Power president and chief executive officer Roel Z. Castro has been saying all along; MORE Power will always look for the lowest cost source of power for Iloilo City.
May I add something to that; not only the cheapest but also renewable and environmentally clean source of power.
Meanwhile we segue to this:
March isn’t just another month on the calendar; it’s the Fire Prevention Month reminding us of the importance of being proactive and vigilant against fire hazards. And MORE Power takes this responsibility seriously, not just during this month, but all year round. Particularly their initiative against pilferage which aims to keep everyone safe from the dangers of illegal connections and jumpers that can lead to fire incidents.
It’s incumbent upon us to ensure this Fire Prevention Month that we have zero fire related incidents. By educating ourselves on proper safety procedures and strictly adhering to them, we can avert these risky circumstances and safeguard our homes and our lives.
Bear in mind that the recent fire in barangays West Habog-Habog and San Juan in Molo district which burned to the ground a 1.3-hectare area composed of 300 informal settlers’ houses was, according to the results of the investigation by the Bureau of Fire Protection, electrical in nature.
So get connected legally and prevent electrical fires along the way, saving your selves, your homes and your community./PN
