By Francis Allan L. Angelo and Dolly Yasa
MORE Power and Negros Power have delivered early Christmas cheer to consumers by reducing electricity rates for December 2024, offering financial relief during the festive season.
MORE Power announced an average residential rate of PHP 11.4170 per kilowatt-hour (kWh) for December, a decrease of PHP 0.3922 from November.
The rate reduction was attributed to lower generation charges resulting from declining prices at the Wholesale Electricity Spot Market (WESM), where MORE Power sources most of its electricity.
In November, MORE Power increased rates by PHP 0.76 to PHP 11.80 per kWh due to higher WESM generation charges, adding PHP 152 to the bill of a household consuming 200 kWh.
Despite fluctuations, MORE Power’s distribution charge has remained steady at PHP 2.33 per kWh.
The December rate cut reflects a reversal of recent rate hikes and continues a declining trend seen earlier this year.
In October, rates dropped to PHP 11.0432 per kWh after four consecutive months of decreases.
MORE Power attributed the December reduction to a significant drop in generation charges and the end of staggered WESM payment schemes approved by the Energy Regulatory Commission (ERC) in June.
The staggered payments stabilized rates during high-cost periods caused by red and yellow grid alert statuses over the summer.
Throughout 2024, MORE Power’s rates ranged from a low of PHP 8.7749 per kWh in June to a peak of PHP 12.8566 in July, before settling below PHP 12.62 per kWh in subsequent months.
Despite these fluctuations, MORE Power remains one of the most affordable electricity providers among distribution utilities and cooperatives in Western Visayas.
NEGROS POWER SLASHES RATES, TOO
Negros Power has also provided financial relief with a significant rate cut for December.
Residential customers will pay PHP 11.18 per kWh, a reduction of PHP 0.82 compared to November, translating to a PHP 164 savings for households consuming 200 kWh.
The new rate applies to the billing cycle from Nov. 16 to Dec. 15, with customers receiving bills starting Dec. 16.
“We are pleased to pass on these savings to our customers during this special time of year,” said Roel Castro, president and CEO of Negros Power.
The reduction resulted from lower blended generation rates at WESM, directly passed on to consumers.
Negros Power’s distribution system and metering charges remain steady at PHP 1.18 per kWh, covering operational costs.
“This reduction provides financial relief and extra holiday cheer for our customers,” Castro said. “We are committed to delivering affordable and reliable power while ensuring a stable and efficient system.”
Notably, Castro also serves as president and CEO of MORE Power.
