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MORE Electric and Power Corp. said Monday it continues to offer the lowest electricity rate in Western Visayas despite an increase for May 2024 billing.
The effective residential electricity rate for MORE Power, reflected on its consumers’ bills from May 18, 2024 to June 12, 2024, is P11.3263 per kWh. Niel Parcon, vice president for corporate energy sourcing and regulatory affairs , said MORE Power managed to maintain competitive rates due to its bilateral contracts with power generators.
“In anticipation of the increase in demand for the summer, we have secured bilateral contracts of 66 percent. Thus, our exposure to WESM is only 34%. In fact, our energy purchases for this billing cycle have increased by 19 percent,” Parcon said, emphasizing the importance of the bilateral agreements with the power generators.
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