ILOILO CITY – Residents of this city enjoy lower electricity rates for seven consecutive months since January 2023. MORE Power, in their latest Facebook post, announced that July 2023 will witness a decrease of P0.2410/kWh in the monthly billing.
The decreasing electricity rates can be attributed to a
combination of factors. Since March 2023, the introduction of renewable energy
sources has played a leading role in driving down costs. Moreover, the
decreasing prices of coal in the global market and a dip in electricity prices
in the Wholesale Electricity Spot Market (WESM) have further fueled the
This latest adjustment brings the rate down to a more wallet-friendly P11.4173/kWh from the previous rate of P11.6583/kWh. While consumers
can rejoice in the ongoing decline, caution is advised when it comes to energy
consumption. The prices of coal and electricity in the global market remain
unpredictable, making it crucial for consumers to utilize electricity
responsibly and efficiently.
“We would like to announce that the electricity rates in
Iloilo City have decreased for the seventh consecutive month. This achievement
is a testament to the dedication and patience of our Energy Sourcing team, as
they continuously source for cost-efficient power generation supply, the entry
of renewable energy, and favorable market conditions," stated Roel Z.
Castro, President and Chief Executive Officer of MORE Power.
Residents can expect the reduced rates to reflect in their
bills from July 18, 2023, to August 14, 2023. Additionally, MORE Power seizes
this opportunity to remind eligible customers, including members of the 4Ps
program and marginalized end-users, to apply for the lifeline rate discount.
This initiative aims to extend a helping hand to electricity consumers,
particularly those living below the poverty line.
With a steadfast commitment to providing affordable and
reliable electricity services, MORE Power remains dedicated to empowering the residents
of Iloilo City. By prioritizing sustainable practices and exploring alternative
energy sources, they aim to make a positive impact on both the environment and
the local community.