MORE Power raises March electricity rate

MORE Power, the sole power distributor in Iloilo City and parts of Iloilo province, announced a slight increase in its March electricity rate, saying the adjustment reflects an additional PHP 0.0815 per kilowatt-hour as higher prices in the Wholesale Electricity Spot Market pushed up generation costs.

The utility said the current residential rate is PHP 11.68 per kWh, up from PHP 11.60 per kWh last month. The advisory also listed the commercial rate at PHP 10.31 per kWh and PHP 10.7317 per kWh.

MORE Power said the latest adjustment was mainly tied to the increase in electricity prices in the Wholesale Electricity Spot Market, which raised the generation cost from PHP 3.40 per kWh to PHP 4.37 per kWh. It added that bilateral contract prices remained stable and were “not affected by war.”

The company said transmission charges, however, went down because of lower ancillary service costs. It said transmission charges declined from PHP 1.9923 per kWh to PHP 1.7098 per kWh, or by PHP 0.2825 per kWh, while the distribution charge posted no change.

The March advisory came a month after MORE Power cut February residential rates to PHP 11.60 per kWh from PHP 12.66 per kWh in January, a reduction the company earlier attributed to a sharp drop in spot market prices.

Commercial rates in February were placed at PHP 10.7317 per kWh.

MORE Power said a sharper spike in electricity rates is expected in April because of the ongoing war in the Middle East and its effect on global oil markets.

That outlook mirrors broader concerns among power distributors over possible fuel-driven increases in generation costs in the coming billing cycle.

“At MORE Power, we continue to make ways in mitigating the impact of market-driven cost changes while consistently delivering reliable and affordable electricity to each consumer in the city and province of Iloilo.”