ILOILO City – MORE Electric and Power Corporation (MORE Power) announced that its residential electricity rate for August has risen to P10.88 per kilowatt-hour (kWh), a slight increase of P0.27/kWh from last month’s P10.61/kWh.
The utility firm attributed the upward adjustment primarily to higher generation costs driven by rising prices in the Wholesale Electricity Spot Market (WESM). Effective rates from WESM surged to P4.28/kWh from P3.64/kWh in July, reflecting a significant spike in the spot market across the energy sector nationwide.
Despite the increase, MORE Power said it could limit the impact on consumers through strategic sourcing and cost management, containing the overall adjustment to just P0.27/kWh.
In contrast to the higher generation charge, transmission charges declined this month due to reduced adjustments from previous bills, slightly offsetting the overall increase.
“MORE Power remains committed to mitigating market-driven cost fluctuations while ensuring reliable and affordable electricity for Iloilo City households,” the company said in its advisory.
Industry analysts note that power distributors nationwide face similar challenges as WESM rates fluctuate in response to supply and demand pressures./PN