Iloilo City to experience biggest power rate reduction: MORE Power is now an active participant in the trading of electricity as it directly purchases 100 percent of its power supply connection from the grid since it operates the new switching station in Banuyao, Lapaz last May 26.
“It may be recalled that Iloilo City now has the cheapest power rates in major Visayan cities. In a comparative table of power rates covering April this year, MORE Power is clearly way ahead of its league leaving a clear gap between it and its counterparts, Central Negros Electric Cooperative (CENECO) and Visayan Electric Company (VECO) by registering a P10.28 per kWh-rate while the two others, charged P11.11 per kWh and P11.94 per kWh, respectively.” – an excerpt from previous article, Supercharged: More Power Banuyao Switchyard Now Online.
According to the distribution utility, despite numerous price spikes in the Wholesale Electricity Spot Market (WESM), they were able to bring down the blended generation rate by a significant decrease of P2.5/kWH.
However, the competitive Time Of Use-rates from our source Power Sector Assets and Liabilities Management (PSALM) Corporation (renewable Geothermal generating plant in Leyte), positive Line Rental from Leyte power source, and positive Net Settlement Surplus cushioned the impact of very high WESM prices to the total generation rate of MORE.
Overall, 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 3.5588 Peso per kWh.