MORE Power limits August rate hike to PHP0.27/kWh

By Francis Allan L. Angelo

MORE Electric and Power Corp. (MORE Power) announced that its residential electricity rate for August has increased slightly to PHP10.88 per kilowatt-hour (kWh), up PHP0.27 from July’s PHP10.61/kWh.

The utility attributed the adjustment mainly to higher generation costs due to rising prices in the Wholesale Electricity Spot Market (WESM).

WESM rates surged to PHP4.28/kWh in August from PHP3.64/kWh in July, reflecting a sharp spike in the spot market nationwide.

Despite this, MORE Power said it managed to limit the increase through strategic sourcing and cost control, containing the adjustment to just PHP0.27/kWh.

The company said transmission charges declined this month due to reduced adjustments from previous billing cycles, helping to slightly offset the overall rate hike.

“MORE Power remains committed to mitigating market-driven cost fluctuations while ensuring reliable and affordable electricity for Iloilo City households,” the firm said in a public advisory.

Industry analysts noted that power distributors nationwide are facing similar challenges, as WESM prices continue to fluctuate in response to shifting supply and demand conditions.