IN THE aftermath of the 12-hour power interruption last week caused by the National Grid Corporation of the Philippines (NGCP), Iloilo City’s sole power distribution utility, MORE Electric and Power Corporation (MORE Power), still managed to emerge with flying colors.
Taking advantage of the scheduled outage, MORE Power deployed all its maintenance crews to carry out much-needed maintenance work and emergency repairs on its distribution network while the power supply remained offline.
On the bright side (pun intended), the NGCP-announced 12-hour interruption turned out to be significantly shorter for many consumers. Through efficient coordination and preparation, MORE Power was able to reduce the outage to only eight hours in some feeders and as little as four to two hours in others.
This only goes to show that despite the challenges it faces, MORE Power continues to place the welfare of Iloilo City consumers at the top of its priorities.
Meanwhile, let us move on to more good news.
Just a week after that interruption, MORE Power delivered welcome relief to consumers by reducing electricity rates. The move helped cushion the impact of rising global commodity prices brought about by continuing instability in the Middle East.
The company, which currently serves Iloilo City and is poised to become the sole power distributor in Iloilo Province, lowered its residential electricity rate to P11.8710 per kilowatt-hour (kWh), down from P12.14 in April. Commercial rates likewise declined to P11 per kWh from P11.27 the previous month.
And if you think that is the end of the good news, wait — there is more (again, pun intended). True to its commitment to provide consumers within the Primelectric group’s service areas with the most competitive electricity rates possible despite volatile global conditions, Primelectric’s distribution utilities are extending much-needed relief through lower power rates this May, which consumers will feel in their June billing cycle.
Primelectric customers across the Visayas are set to enjoy some of the lowest electricity rates in the region after all three of its distribution utilities implemented rate reductions despite volatility in global energy markets driven by tensions in the Middle East.
Bohol Light Company Inc. posted the biggest reduction, cutting rates by P2.0068 per kWh and bringing residential rates down to P10.5081 per kWh and commercial rates to P9.9291 per kWh.
The company attributed the decrease to lower generation and transmission charges, reduced line rental costs, and the temporary suspension of the GEA-ALL charge ordered by the Energy Regulatory Commission for May and June.
In Iloilo City, MORE Power reduced residential rates to P11.8710 per kWh from P12.14 per kWh in April. The company cited lower transmission costs, reduced system losses, and the benefits of cheaper bilateral supply contracts that helped offset higher coal prices, freight costs, inflation, and foreign exchange pressures.
Negros Electric and Power Corp. likewise lowered its rates to P11.38 per kWh, down by P0.8655 per kWh from April, making it the lowest among the major power distributors on Negros Island.
These reductions stand in sharp contrast to Meralco in Metro Manila, where rates declined by only P0.0151 per kWh to P14.3345 per kWh following consumer complaints of “bill shock” caused by higher summer demand and pass-through charges.
Primelectric said the lower rates were made possible through efficient power procurement and active participation in the Wholesale Electricity Spot Market (WESM), allowing the company to secure more affordable power supply.
According to Primelectric president and chief executive officer Roel Z. Castro, “our priority has always been to deliver stable and more affordable electricity to the communities we serve despite unpredictable global energy markets,” adding that the company will continue focusing on efficient procurement, prudent contracting, and system upgrades.
Simply put, Primelectric has not only emphasized but has consistently prioritized securing the least-cost power supply despite global fuel market uncertainties triggered by the conflict in the Middle East. Even amid upward price pressures recorded in recent months, all three of its distribution utilities in the region were still able to reduce electricity rates.
Well played, indeed./PN
