Private Utilities Offer Cheaper Power Rates in W. Visayas, Negros

By Rjay Zuriaga Castor

Residents served by private power utilities in Western Visayas and Negros Island enjoyed lower electricity rates in May compared to those served by electric cooperatives.

MORE Electric and Power Corp. (MORE Power), the sole power distributor in Iloilo City, recorded a residential rate of PHP11.13 per kilowatt-hour — the lowest among utilities in Panay and Guimaras.

MORE Power’s rate is notably cheaper than the following cooperatives:

• ILECO I – PHP12.53/kWh
• ILECO II – PHP12.25/kWh
• ILECO III – PHP11.27/kWh
• AKELCO (Aklan) – PHP12.74/kWh
• ANTECO (Antique) – PHP12.82/kWh
• CAPELCO (Capiz) – PHP12.78/kWh
• GUIMELCO (Guimaras) – PHP12.69/kWh

Meanwhile, Negros Electric and Power Corp. (Negros Power), a joint venture between Primelectric Holdings Inc. and Central Negros Electric Cooperative Inc., also posted competitive rates since launching in November 2024.

Negros Power’s May rate stood at PHP11.69/kWh, which is still lower than nearby cooperatives:

• NONECO – PHP13.28/kWh
• NOCECO – PHP12.02/kWh
• NORECO 1 – PHP12.18/kWh
• NORECO 2 – PHP11.71/kWh

Negros Power’s service area includes Bacolod City, the cities of Bago, Silay and Talisay, and the towns of Don Salvador Benedicto and Murcia.

Atty. Richard Nethercott, president of the Independent Electricity Market Operator of the Philippines, said electricity prices are influenced by market conditions, a utility’s contracted supply portfolio and its purchasing strategy.

“Electricity rates are driven by multiple factors — market conditions, the utility’s contracted supply portfolio, and its internal purchasing strategies,” he said.

MORE Power President Roel Castro attributed the utility’s lower rates to its use of the Competitive Selection Process for power supply contracting and active monitoring of the Wholesale Electricity Spot Market.

He noted that generation charges make up 60% to 65% of a typical household’s electric bill, pushing utilities to secure competitively priced power supply.

“By actively participating in market opportunities and negotiating long-term power supply agreements at competitive rates, we’re able to keep costs down for our consumers without compromising service reliability,” Castro said.