ILOILO City — MORE Electric and Power Corporation (MORE Power) is sharing love most practically this February as the distribution utility announced a decrease in its power rate by P1.06 per kilowatt hour (kWh) from last month.
The residential electricity rate this February is now at P11.60/kWh from P12.66/kWh last January. Households consuming an average of 200 kWh per month can save P212 on their electricity bill this month.
This positive adjustment was due to a significant drop in electricity prices at the Wholesale Electricity Spot Market (WESM) from P6.46/kWh to P3.40/kWh.
The system loss rate also decreased by P0.06/kWh, reflecting lower overall power costs.
Fewer outages at the generation plants also contributed to the decrease, along with low demand with cooler temperatures.
For the record, there is a slight increase of P0.07/kWh in the transmission charge due to the upward movement in the cost of regulated transmission services.
“More savings mean more reasons to celebrate the season of love! We extend our gratitude for being with us as we continue to power your homes with brighter days and lighter bills in the city and province of Iloilo,” MORE Power said in a statement.
Meanwhile, the commercial rate this month is P10.7317/kWh from P11.7958/kWh last month.
All of the published electricity rates of MORE Power are already inclusive of tax./PN
