Iloilo City power rate still cheapest in Western Visayas

Enrique Razon Jr. INQUIRER FILE PHOTO

MANILA, Philippines — Consumers in Iloilo City, served by Razon-led MORE Electric and Power Corp. (MORE Power), continue to pay the lowest electricity rates in Western Visayas.

In a statement on Wednesday, MORE Power said it was offering “the most affordable electricity rates” in the region, with its May billing showing a P11.13 per kilowatt hour (kWh). The figure was lower than other electric cooperatives, which charged P11.27 to P12.82 per kWh.

The average residential rate for the May period was P15.56 per kWh, the Philippine Rural Electric Cooperatives Association, Inc. earlier said.

Since 2020, MORE Power has been the city’s sole distributor.

READ: MORE Power brings antipilferage drive to barangays

According to Niel Parcon, vice president for Corporate Energy Sourcing and Regulatory Affairs, this was made possible as the company has secured long-term power supply deals, covering about 66 percent of its electricity needs.

“MORE Power has reduced its reliance on the more expensive spot market. This approach helps MORE Power keep prices stable, even when the energy market is unpredictable,” Parcon said.

Roel Castro, MORE Power president and CEO, also noted that the company is now a member of the Safety Organization of the Philippines, Inc. As of October 2024, it logged 1.9 million safe man-hours.

READ: MORE Power invests P115 million to improve power services