WHO would have thought this will happen in my lifetime and in the midst of a pandemic while “I Am Iloilo City” is still under Enhance Community Quarantine (ECQ)? Call it an early Christmas for the natives and consumers of the city.
For the first time in a hundred years, “I Am Iloilo City” now has the lowest electric rate in the country at P6.45 per kilowatt hour and it took MORE Power to do it.
MORE Electric and Power Corp. has fulfilled its promise to give the natives of “I Am Iloilo City” the lowest electric rate possible and they did with P6.45 starting this month of July till December. Hopefully beyond that.
When MORE Power took over from erstwhile power provider Panay Electric Co. (PECO) the average rate per kilowatt hour was P11.41 to a high of P12.30. They were able to lower it down to an average of P9.88 to a high of P10.52 – still much lower than the exorbitant rates charged by PECO. Of course they didn’t stop there but exceeded themselves with P6.45.
This makes one wonder why after almost a century as the power provider of “I Am Iloilo City” PECO was never able to lower the rate; instead it just increased. Yet in less than two years MORE Power was able to significantly lower the electric rate.
And how was MORE Power able to dramatically lower down the power rate of Iloilo City?By being an active participant in the trading of electricity in the open market.
The power provider is now directly purchasing 100 percent of its power supply connection from the grid since it energized its new 69kV switching station in Banuyao, La Paz on May 26.
This move allowed the power company to find the best power supply rate for Iloilo City.
According to MORE Power president and chief operating officer Roel Z. Castro:
“We were able to find a very cheap source of power and they have the volume that is enough for Iloilo City at a price that’s really one of the lowest that I have seen in the industry.”
So what does this mean? Rather, how much will be the savings of the natives of Iloilo City with this price drop?
A typical household consuming 300kWh can expect a savings of about P1,067.64 in their July electricity bill, as the average rate for residential consumers of MORE decreased by P3.5588 per kWh.
And what does this very low power rate mean in terms of more investments for “I Am Iloilo City”? With a very much lower commercial rate of P6.18 per kilowatt hour it will attract more investors to do or set up their businesses in the city.
If that happens as it is happening now, it means more income for the city’s development projects and more jobs for the natives of “I Am Iloilo City”.
What is also significant is a positive effect on the environment as MORE Power now purchases majority of the city’s power requirements from a geothermal plant in Leyte which is 100 percent sustainable and no longer from a coal plant which is not good environment-wise.
It would be safe to say that “I Am Iloilo City” now has the bragging rights that it has the lowest electric rate per kilowatt hour in the country plus an environment-friendly sustainable source of electricity.
Indeed, “Bringing MORE to life”. (brotherlouie16@gmail.com)/PN
