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Electricity rates in Iloilo City fell in December as overall demand for power dropped, according to More Electric and Power Corporation (MORE Power).
The residential rate decreased by PHP0.5081 per kilowatt-hour (kWh), while the commercial rate declined by PHP0.5080 per kWh.
This brings the new rate to PHP11.3477 per kWh from PHP11.85 per kWh recorded last month.
MORE Power said the decline was caused by lower electricity demand, which expanded supply and reduced the average Wholesale Electricity Spot Market (WESM) rate.
The utility explained that more available power led to reduced prices in the WESM.
Transmission charges also fell to PHP1.7918 per kWh from PHP1.8612 per kWh due to a drop in regulated costs and ancillary services.
System loss charges dropped to PHP0.4086 per kWh from PHP0.4512 per kWh because of lower generation and transmission expenses.
Distribution, supply, and metering fees remained unchanged despite the adjustments in other charges.
JM Zaporteza, MORE Power chief operations officer, said the company ensures that generation and transmission charges are sourced from the lowest available electricity prices at any given time.
The utility noted that December’s decrease follows last month’s increase caused by power plant outages in Cebu and Mindanao, higher Feed-in-Tariff Allowances, and the new universal environmental charge.