INEC eyes tie-up with ACEN to lower power rates

LAOAG CITY: The Ilocos Norte Electric Cooperative (INEC) on Thursday said it is in talks with the Ayala-led ACEN Corporation for supply of clean energy and to lower the power rates in the province. 'We are talking with power providers like ACEN to find ways where ACEN can come in to provide power to us,' acting general manager Cipriano Martinez said in a statement, noting that the provincial government is also pushing for a possible tripartite agreement to ensure further decline in power rates for consumers. This month, households continue to enjoy a single-digit power rate of PHP9.086/kWh as a result of efficient trading in the wholesale spot market and continuous negotiations with power suppliers. To sustain a steady decline of power rates, Martinez assured consumers that his team, with the support of the national and provincial governments, is working things out to get supply at a lower cost. Earlier, INEC entered into an emergency power supply agreement with AboitizPower to lock down rates and supply ahead of the seasonal demand uptick during the holidays. Majority of the power cooperative's supply has a locked-down rate of PHP6.65/kWh from AboitizPower for one year effective October 2023. Source : Philippines News agency