ILOILO City residents continue to enjoy the lowest electricity rates in Western Visayas despite a P1.02 per kilowatt hour increase implemented by More Power for the May 2024 billing cycle.The effective residential electricity rate for More Power customers is now P11.3263 per kWh, reflecting on bills from May 18, 2024 to June 12, 2024.The highest electricity rate in the region is 17.9609 per kWh from Nergos Occidental Electric Cooperative , while the second lowest rate is 14.
'In anticipation of the increased demand for electricity during the summer months, we secured bilateral contracts for 66 percent of our power requirements. This strategy limits our exposure to the Wholesale Electricity Spot Market , where prices have risen from P8.67 per kWh to P11.85 per kWh,' said Niel Parcon, vice president for Corporate Energy Sourcing and Regulatory Affairs at More Power.
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