MORE Power Slashes Power Rates for Second Straight Month

By Rjay Zuriaga Castor

Residents in Iloilo City can expect relief on their electricity bills as MORE Electric and Power Corporation (MORE Power) announced a second consecutive rate reduction for the month of June.

The June rate dropped by 61 centavos per kilowatt-hour (kWh), which is a decrease from PHP 11.12/kWh in May to PHP 10.52/kWh this month.

MORE Power said the slight drop translates to a PHP 122 savings for households consuming 200 kWh monthly.

In total, since May, the residential power rate of MORE Power has decreased by PHP 1.50/kWh.

MORE Power Chief Operating Officer JM Zaporteza explained on Wednesday, June 18, that the decrease can be attributed to the reduction in the cost of the generation charge component of the power bill.

Aside from this, he added that the prices of power in the Wholesale Electricity Spot Market (WESM) have decreased due to the increase in the available supply, which translates to a lower price in the market.

“Because of the low WESM pricing, we sourced almost half of our power needs from the spot market to capitalize on the reduced rates,” he said.

He also highlighted the company’s favorable bilateral contracts with suppliers, which are indexed to lower fuel and coal prices.

Zaporteza said future rates remain uncertain, citing that the generation charge fluctuates monthly.

MORE Power is also expecting some movements on prices because of the ongoing conflict between Israel and Iran, which can push up global oil prices and create upward pressure on future electricity rates.

“We cannot categorically say that it will stay the same or it will go up until and unless we get the actual pricing from our power generation,” Zaporteza said.

He stressed that MORE Power has a dedicated power trading team that monitors electricity market prices daily to source the least expensive power available.

“Once we see the cheapest at a certain time, that’s where we source the power. We’re assured that in a given month, we are always sourcing from the least-cost power available in the market at that time,” he added. In neighboring Negros Island, Negros Power announced a ₱0.55/kWh drop in electricity rates, setting the residential rate for June at ₱11.14/kWh, down from ₱11.69 in May.

This translates to ₱110 in monthly savings for a household consuming 200 kWh.

“This rate adjustment is part of our ongoing commitment to ease the financial strain on our consumers,” the company said.

Negros Power attributed the lower rate to strategic energy management and continued infrastructure improvements, with feeder loss dropping to 8.03% from 8.28% in May.

Commercial users will also benefit, with June rates at ₱11.18/kWh for low voltage and ₱10.09/kWh for high voltage customers.

“At Negros Power, we understand the pressure on household budgets,” the company said, reaffirming its role as a community-focused power distributor.