In a social media post, MORE Power assures consumers lesser costs in its first billing period. It can be recalled that MORE Electric and Power Company just became Iloilo City’s official distribution utility after replacing Panay Electric Company in a grueling legal battle.
According to MORE President Roel Castro, they will be charging 9.61 per kilowatt-hour – whilst the former distribution utility (PECO) charged 10.35 per kilowatt-hour. This would mean that MORE’s initial residential rate would be 74 centavos less as it started its operation last February 2020.
“We are very happy to inform the Ilonggos that our computations resulted in an effective rate of Php 9.61/kWh for residential consumers. This will be the rate reflected on their first bill starting April 20, 2020. Our strategy was to source out a portion of Iloilo City’s electric supply from cost-effective power suppliers in order to bring down the effective rate for all our customers,” states MORE President Roel Castro, in a social media post of MORE.
Castro also revealed that MORE is sourcing 30% of Iloilo City’s power supply from KEPCO SPC Power Corporation (KSPC) in Cebu, Aboitiz Power Renewables, Inc. (APRI) in Luzon, and the Wholesale Electricity Spot Market (WESM). The remaining 70%, meanwhile, is sourced from Panay Energy Development Corporation (PEDC) and Panay Power Corporation (PPC) in Iloilo.
In addition, Castro also advises that consumers will be receiving their first MORE power bill on April 20 (covering consumption from February 29). The company will also be giving a 40-day grace period for consumers to pay their bills.