MORE Power Iloilo: December Electricity Rates Reduction
Iloilo City residents will see smaller utility bills this month. MORE Electric and Power Corp. (MORE Power) confirmed a significant electricity rates reduction for the December billing cycle. The company announced a 4.2% decrease in overall costs. This news offers much-needed financial relief for households and local businesses during the busy holiday season.
Benefits for Households and Businesses
Residential consumers now pay an average rate of P11.3477 per kilowatt-hour (kWh). This price is lower than November’s rate of P11.8558 per kWh. A typical household using 200 kWh could save about P100 this month.
Local business owners also benefit from this change. Commercial rates fell to P10.6661 per kWh from the previous P11.1741 per kWh. This electricity rates reduction helps shops and restaurants manage their costs during the peak December shopping period.
Why Market Prices Fell
Several factors caused this price drop. MORE Power points specifically to the current energy market conditions. A wider power supply margin emerged as overall demand fell on the Wholesale Electricity Spot Market (WESM).
When energy supply stays high while demand drops, prices usually fall. The utility provider successfully passed these market savings directly to Iloilo consumers. This shift ensures that local rates reflect the most recent market trends.
Technical Savings and Efficiency
Transmission charges also played a major role in the lower bills. These costs decreased by 3.7% month-on-month to P1.7918 per kWh. Lower prices for ancillary services and regulated charges caused this decline. These essential services help the company balance the power grid effectively.
MORE Power also improved its internal operational efficiency. System losses decreased to P0.4086 per kWh from P0.4512 per kWh. System loss refers to energy that vanishes during the distribution process. By lowering these losses, the company keeps the local grid stable. While external market costs changed, MORE Power kept its own distribution charge the same.
