For 7th Straight Month, Decrease of Electricity Rates in Iloilo City Provide Relief to Consumers

“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.” — Roel Z. Castro, President and Chief Executive Officer of MORE Power.

It is the time of the month when Ilonggo consumers receive their electric bill. I’m of those who was amazed at the continuing decrease in rates that began in January 2023. Indeed, it was a welcome development for the residents of Iloilo City! In its latest Facebook post, MORE Power announced that July 2023 will witness a decrease of P0.2410/kWh in the monthly billing. According to the power utility, the decreasing electricity rates can be attributed to a combination of factors. In March 2023, the introduction of renewable energy sources has played a leading role in driving down costs. On top of that, the prices of coal in the global market has decreased and the electricity prices in the Wholesale Electricity Spot Market (WESM) has also dipped. Thus, further fueling the downward trend.

The latest adjustment brought the rate down to a more reasonable 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,” stated Mr. Castro. “The prices of coal and electricity in the global market remain unpredictable, making it crucial for consumers to utilize electricity responsibly and efficiently.”

It can be expected by the residents that the reduced rates will be reflected in their bills from July 18, 2023, to August 14, 2023. MORE Power also 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 its steadfast commitment to provide affordable and reliable electricity services, MORE Power remains dedicated to empowering the residents of Iloilo City. The power utility aims to make a positive impact on both the environment and the local community by prioritizing sustainable practices and exploring alternative energy sources.