CALL IT an early Christmas present from MORE Power, which it is as P7.7846/kWh will be the cost per kilowatt hour of your electric bills effective Nov. 18 to Dec. 14, 2023 billing.
MORE Power will be implementing a P2.7644/kWh rate reduction.
Meaning, if you deduct this amount from the current rate of P10.55 per kilowatt-hour, your one-time discounted bill would only be P7.7846/kWh.
Based on calculations, residential customers consuming 200kWH will benefit a reduction of over P550 from their bills.
This generous rate reduction is a refund of pass-through charges in compliance with the Energy Regulation Commission (ERC) Resolution No. 14, Series of 2022, which adopted the âRevised Rules Governing the Automatic Cost Adjustment and True-up Mechanisms and Corresponding Confirmation Process for Distribution Utilities.â
Sadly, the regular rates minus this one-time refund will resume on the next billing cycle.
But donât despair, because after this, there is a strong possibility the rates will go lower than P10.55 because of the downward trend in generation cost in the past nine months.
Weâre hoping that this downward trend will go on till yearâs end. In the meantime, enjoy the windfall/savings which comes just in time this holiday season,
You know after almost a century under the watch of the previous power distribution utility, the natives of âI Am Iloilo Cityâ never experienced anything of this sort; rate reductions, refund of deposits, etc.
And we segue to whatâs been happening in congress that would mean if Bacolod and neighboring cities and municipalities would finally come out of the dark.
Congress Greenlights NEPC Franchise in Crucial Move for Central Negros Power Dynamics
In a pivotal session held on Nov. 13, at the Mitra Building in Batasan Complex, the House Committee on Legislative Franchise gave its preliminary nod to the franchise proposal of Negros Electric and Power Corporation (NEPC).
This landmark decision follows a comprehensive review of the initiative presented by four Negrense lawmakers, including Representatives Juliet Marie Ferrer, Stephen Paduano, Kiko Benitez, and Greg Gasataya.
Chaired by Gus Tambunting, the Committee engaged in robust discussions about House Bill 9310, which outlines the transfer of the franchise from the beleaguered Central Negros Electric Cooperative (CENECO) to NEPC.
The scope of the franchise encompasses the cities of Bacolod, Bago, Silay, and Talisay, along with the Municipalities of Murcia and Don Salvador Benedicto.
During the deliberations, the Negrense representatives passionately underscored the urgency of NEPC’s intervention, citing the financial struggles faced by CENECO.
These challenges stem from a shortage of Capital Expenditures crucial for the modernization of existing facilities.
Noteworthy figures from both NEPC and CENECO, along with representatives from the National Electrification Administration, Energy Regulatory Commission, and Securities and Exchange Commission, were present at the hearing, reflecting the gravity of the decision.
A focal point of the discussions was the Joint Venture Agreement (JVA), emphasizing the conduct and outcome of its ratification through a plebiscite. The majority of consumers cast their votes in favor of the JVA, further solidifying the rationale behind the transition.
In a resolute conclusion, the committee approved, in principle, the proposed house bill.
However, this approval is contingent upon the submission of specific documentary requirements.
NEPC President Roel Castro said that they would submit the documents and answer in writing the issues raised by some committee members.
The move signifies a critical juncture in reshaping the energy landscape in Central Negros, with NEPC poised to play a transformative role in the area’s electric distribution service.
Indeed, there is light at the end of the tunnel and itâs coming much sooner than later./PN
