MORE Power sees reduced power rates for Iloilo City residents

ILOILO CITY - Residents of this city, already enjoying one of the lowest electricity rates in the country, can expect reduced power rates in the coming month. In an interview on Tuesday, More Electric and Power Corporation (MORE Power) chief executive officer Roel Castro said the residential rate in this city in August was at PHP12.67 per kilowatt-hour (kWh), one of the lowest rates in Panay and Guimaras islands. 'Even for this month, we are one of the lowest. 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 distribution utilities and electric cooperatives to stagger the collection of charges for purchases from the Wholesale Electricity Spot Market will end this month. Castro said the rate will return to normal on the next billing cycle, and depending on the price of coal, they are seeing a reduction of P HP1 to PHP1.50 in their rate. He said they are coming up with medium-term and long-term strategies where they can predict the pricing. He added they are also looking for a more stable strategy that when implemented, MORE Power will have the cheapest rate. 'It is not just monthly. We can say, let's see in the next two years, we will be the cheapest,' Castro said. The power distributor's efficient service and low power rates was lauded by Mayor Jerry P. Treñas. In his State of the City Address on Monday, Treñas said he was glad MORE Power is also exploring more sources, especially of reliable and affordable renewable energy. Source: Philippines News agency