Private electric distribution utilities led by businessman Enrique Razon, Jr. continue to offer the most competitive electricity rates in the Visayas region.
In a statement, MORE Electric and Power Corporation (MORE Power) — the exclusive electricity distribution utility in Iloilo City – said it has consistently maintained the lowest residential power rates in Panay Island and Guimaras for over 5 years.
MORE Power’s residential rate stands at P11.13 per kilowatt-hour (kWh) in May, lower than those of surrounding electric cooperatives: Iloilo Electric Cooperative I (ILECO I) at P12.53 per kWh, ILECO II at P12.25 per kWh, ILECO III at P11.27 per kWh, Aklan Electric Cooperative at P12.74 per kWh, Antique Electric Cooperative at P12.82/kWh, Capiz Electric Cooperative at P12.78 per kWh and Guimaras Electric Cooperative at P12.69 per kWh.
MORE Power said the trend extends to Negros Island where Negros Electric and Power Corp. (Negros Power) — a joint venture of Primelectric Holdings, Inc. and Central Negros Electric Cooperative (CENECO) — has, for 7 consecutive months since beginning operations in November 2024, offered significantly lower rates.
Negros Power’s rate is P11.69 per kWh in May , lower than those of neighboring cooperatives Northern Negros Electric Cooperative (NONECO) at P13.28 per kWh, Negros Occidental Electric Cooperative (NOCECO) at P12.02 per kWh, Negros Oriental Electric Cooperative 1 (NORECO 1) at P12.18 per kWh and NORECO 2 at P11.71 per kWh.
MORE Power and Negros Power president and chief executive Roel Castro said they were able to consistently offer low rates as a result of strategic power contracting through a competitive selection process (CSP), coupled with diligent and real-time monitoring of price movements in the Wholesale Electricity Spot Market (WESM).
