More Electric Power Corporation (MORE Power), the sole power distributor in Iloilo City, is anticipating a lower residential rate next month.
MORE Power chief executive officer Roel Castro said they are seeing a reduction of P1 to P1.50 per kilowatt-hour (kWh) in their rate for October.
Last August, the electricity rate in the city was at P12.67 kWh, one of the lowest rates not only in the Western Visayas region but also in the whole country.
“There was an aberration because of the ERC (Energy Regulatory Commission) order but if we normalize, we are still one of the lowest. We really work 24/7 to look for cheaper sources that we can blend,” Castro said.
He was referring to the ERC order for power distribution utilities to stagger the collection Wholesale Electricity Spot Market (WESM) charges over a four-month period starting from June until September.
According to Castro, they are looking for a more stable strategy to offer the cheapest rate.
“It is not just monthly. We can say, let’s see in the next two years, we will be the cheapest,” he said.IMT
