ILOILO City – MORE Electric and Power Corporation (MORE Power) announced a significant decrease in its power rates this October.
Residential rates have dropped from ₱12.44 per kilowatt-hour (kWh) to ₱11.087 per kWh this month. Commercial rates also decreased from ₱11.760 per kWh to ₱10.405 per kWh.
According to MORE Power, the reduction in electricity rates is due to decrease in the generation charge.
Last month, power rates increased because of a series of yellow alert statuses issued by the National Grid Corporation of the Philippines (NGCP) in August, caused by thin supply compared to demand. However, after prices stabilized in the spot market, the generation charges decreased.
As part of its initiative to lower rates, MORE Power carefully plans its electricity purchases and supports bilateral contracts.
The company assures consumers it will continue to provide cost-efficient rates and quality service for the Ilonggos./PN