Iloilo city: The power rate in Iloilo City will register a reduction of PHP0.27 centavo per kilowatt-hour (kWh) in its May billing despite the increase in generation costs.

According to Philippines News Agency, More Electric and Power Corp. (MORE Power) announced that it has managed to lower final consumer rates by sourcing cheaper power under bilateral contracts. With this reduction, the residential rate for May is PHP11.8710 per kWh, a decrease from PHP12.14 per kWh in April. The commercial rate has also dropped to PHP11 per kWh from PHP11.27 per kWh last month.

MORE Power president and chief executive officer, Roel Castro, stated, "We strive to provide our consumers with the best electricity rates despite the challenges we are currently facing." The generation charge saw an increase of PHP0.05/kWh due to factors like higher coal prices, increased freight costs associated with imports, inflation, and foreign exchange fluctuations.

The electric utility report noted that prices in the Wholesale Electricity Spot Market rose to PHP4.47 per kWh. However, there was a reduction in the transmission charge to PHP0.26/kWh compared with the previous month, alongside a decrease in the system loss charge by PHP0.027/kWh.

The power utility continues to monitor price and supply conditions as June approaches, particularly after the National Grid Corp. of the Philippines (NGCP) issued several yellow and red alerts, indicating potential supply shortages relative to demand. Meanwhile, Castro encouraged consumers to practice mindful electricity use amid rising heat indices this summer, warning that greater appliance demand could lead to higher bills.