RIVER PARK Iloilo Esplanade is among the spots in Iloilo City that tourists and cyclists visit for a picture-perfect view. But with the pandemic still raging, the city and the rest of Western Visayas have suspended inbound flights and trips from Metro Manila and other areas to control the spread of COVID-19 in the region. —PHOTO COURTESY OF ILOILO CITYMAYOR’S OFFICE
MANILA, Philippines — Power consumers in Iloilo City can now enjoy cheaper electricity after a 36 percent drop in the electricity rate starting July.
MORE Electricity and Power Corp. (MORE Power) has announced that the electricity rate for residential consumers will drop to P6.45 per kilowatt-hour (kWh) for the month of July. This is 36 percent less than P10.01/kWh in June.
MORE Power President Roel Castro said the rate cut, which is the biggest since the power provider began, became possible after finding a “cheap” power source for the city.
“I think on a month-to-month basis, this is the biggest reduction so far,” said Castro in an online press conference over the weekend.
“We have been able to find a cheap source of power for Iloilo City,” he added.
The power provider has been able to reduce the electricity rate following the purchase of power supply from distributors — the Power Sector Assets and Liabilities Management and the Wholesale Electricity Spot Market.
Castro also attributed the record cuts in electricity rate to the 100 percent connection of MORE Power to the transmission grid following the expiration of its one-year emergency power supply contract with Panay Energy Development Corp., Kepco Power Corp., and Aboitiz Power last May 25.