Bacolod: Reduced power generation costs brought down the average residential rate by PHP1.66 per kilowatt hour (kWh) in this highly urbanized city and five neighboring localities in February.

According to Philippines News Agency, Negros Electric and Power Corp. (Negros Power) announced in a statement that this month's rate is pegged at PHP11.44 per kWh, down from PHP13.10 per kWh in January. "The major driver of this decrease is the sharp drop in generation costs, particularly from the Wholesale Electricity Spot Market (WESM)," it said.

Negros Power serves consumers in the cities of Bacolod, Bago, Talisay, and Silay, as well as the municipalities of Murcia and Don Salvador Benedicto. With the rate reduction, consumers in these areas with an average monthly consumption of 200 kWh can save about PHP322 this month, the power company said.

Rates at WESM, the venue for trading electricity in the country, decreased by PHP3.016 per kWh, from PHP7.5031 per kWh in January to PHP4.4872 per kWh in February. The lower rates were reported "following the normalization and synchronization of power plants in the Visayas Grid, which improved supply conditions and lowered market prices."

The rate from power supplier Green Core Geothermal Inc. also decreased by PHP0.3136 per kWh, mainly due to the January billing adjustment and the implementation of its new 2026 base rate. "Combined, these adjustments resulted in a PHP1.4199 per kWh reduction in the overall generation charge, which more than offset minor increases in transmission and other pass-through charges," Negros Power said.