ILOILO City – Among major cities in the country, this southern metropolis boasts having the lowest electricity rates as of this April, according to the latest study of the Institute of Contemporary Economics.
Iloilo City, served by MORE Electric and Power Corporation (MORE Power), offers the most affordable rate at P10.30 per kilowatt-hour (kWh), the study found out.
The Institute of Contemporary Economics, which aims to educate public opinion and inform public policy, compared electricity rates in several major cities across the country.
Metro Manila, where electricity is provided by Meralco, has a rate of P10.95 per kWh. Cebu City, served by Visayan Electric, and Bacolod City, served by Central Negros Electric Cooperative (CENECO), have higher rates at P11.28 and P11.95 per kWh, respectively.
The lower electricity rates in Iloilo City not only benefit households but also attract businesses, fostering economic growth and development in the region. This is a significant milestone for Iloilo City, and especially for MORE Power that has committed to provide affordable and reliable power to its consumers.
BIZ SECTOR HAILS MORE POWER
The Iloilo Business Club (IBC) commended MORE Power, under the leadership of President and Chief Executive Officer Roel Z. Castro for the low rates, and more.
“The services provided by our distributor have improved, especially in terms of announcements, handling customer concerns, and vital infrastructure upgrades such as replacing wooden poles with more durable cement alternatives. Such initiatives not only bolster the reliability of the electricity supply but also underscore MORE Power’s commitment to modernizing and enhancing the city’s infrastructure,” according to IBC in a statement signed by its president, Emil Diez.
The implications of these developments extend beyond the realm of utilities, directly impacting the local business community.
According to IBC, lower electricity rates translate to reduced operational costs for businesses, thereby fostering an environment conducive to growth and attracting potential investors.
For its part, the Iloilo Economic Development Foundation Inc. (ILED) led by Engr. Terence Uygongco said access to affordable electricity is paramount for economic growth, and “MORE Power’s commitment to providing competitive rates is a significant boon to the residents and businesses of Iloilo City.”
“As an organization deeply invested in the economic advancement of Iloilo City, we recognize the pivotal role that MORE Power plays in our community, Their efforts in delivering affordable and reliable electricity contribute significantly to the city’s competitiveness and overall quality of life for its residents,” according to ILED.
MORE Power’s commitment to delivering affordable and reliable electricity is instrumental in driving the economic development of Iloilo City, it added.
Meanwhile, the Philippine Chamber of Commerce and Industry – Iloilo Chapter, Inc. (PCCI-Iloilo), a non-stock, non-profit business organization that serves as the voice of the local business community, praised MORE Power for promoting accessible and affordable access to electricity and for “providing excellent service to the people of Iloilo.”
“The provision of affordable electricity is crucial for the city’s development, benefiting not only commercial establishments but also enhancing the lives of every Ilonggo. MORE Power’s efforts in this regard contribute significantly to positioning Iloilo City as the best location for investment and innovation,” according to PCCI-Iloilo./PN
