By Francis Allan L. Angelo
Compared to previous months, consumers of MORE Power in Iloilo City are enjoying lower electricity rates despite the skyrocketing prices in the Wholesale Electricity Spot Market (WESM) which affected private distribution utilities and electric cooperatives in Luzon and Visayas regions.
In a statement, MORE Power President and COO Roel Castro said the biggest decrease is on the average rate for residential consumers – from P10.5212 kilowatt-hour (kWh) to P10.2777 per kWh or. P0.2435 reduction.
This means that a typical household consuming 300kWh can save P73.05 this month.
Other rate class consumers with higher consumption can also expect further reduction in their electricity bill such as commercial businesses at P9.7036 per kWh compared to P9.9471 per kWh in the previous month.
Government offices, streetlights, and related government facilities will also enjoy rate deductions this month which is attributed to the manageable systems loss due to the continuing campaign of the distribution utility against power pilferers.
“Notwithstanding the price spikes in the WESM, MORE Power was able to mitigate this price increase by executing a Contract for the Supply of Electric Energy (CSEE) with Power Sector Assets and Liabilities Management Corporation (PSALM),” Castro said.
Castro noted that WESM’s average price in March 2021 spiked to P7.58 per kWh from P2.27 per kWh in the previous month. This could have resulted to significant increase in the blended generation rate of MORE Power had it not been for the introduction of energy purchased from PSALM starting this month.
MORE Power said it will undertake the Competitive Selection Process (CSP) for its long-term power supply requirement, as mandated by the Department of Energy, and as part of its commitment to continuously provide the consumers of Iloilo City with effective and cost-efficient electric service.
With CSP, MORE Power said it is confident of providing more competitive and better electricity rates to the consumers of Iloilo City.
