MORE Power lowers electricity rates for Iloilo City consumers

Iloilo City-based MORE Electric and Power Corporation on Monday announced a reduction in electricity rates for May 2026 amid upward pressure on global commodity prices due to the Middle East crisis.

In a statement, MORE Power said its residential rate for this month is P11.871 per kWh, down by P0.269 from P12.14 per kWh in April.

On the other hand, the commercial rate is at P11 per kWh or a reduction of P0.27 from P11.27 last month.

MORE Power said the movement in retail rates is due to a lower transmission charge, which slid to P0.26/kWh versus the previous month.

The system loss charge was also trimmed by P0.027/kWh, reflecting the transmission adjustment. Overall system loss improved from 5.37% to 5.20%.

Meanwhile, the generation charge rose by P0.05/kWh due to higher coal prices and increased freight costs associated with imports.

Inflation (CPI) and foreign exchange fluctuations also pushed generation costs upward, while prices in the Wholesale Electricity Spot Market climbed to P4.47/kWh.

Even with the uptick in generation costs, MORE Power managed to lower final consumer rates by sourcing cheaper power under bilateral contracts.

MORE President and chief executive officer (CEO) Roel Castro assured that they “strive to provide our consumers with the best electricity rates despite the challenges we are currently facing.”

“MORE Power remains steadfast in ensuring the welfare of Ilonggos by delivering quality and affordable electricity to every household and establishment. As the heat index rises this summer, consumers are encouraged to practice mindful electricity use, since greater appliance demand can lead to higher bills,” he added.

MORE Power is also monitoring price and supply conditions heading into June after the National Grid Corporation of the Philippines (NGCP) issued several yellow and red alerts, signaling potential supply shortages relative to demand. — JMA, GMA News