Negros Occidental power rates decrease in October

BACOLOD CITY - Average residential power rates in Negros Occidental, including Bacolod City, decreased in October due to the lower generation charge following the reduction in prices of the Wholesale Electricity Spot Market (WESM). The downward rate adjustment was announced by Northern Negros Electric Cooperative (Noneco), Central Negros Electric Cooperative (Ceneco), and Negros Occidental Electric Cooperative (Noceco) in separate advisories. On Tuesday, Noneco reported a reduction of PHP0.89 per kilowatt hour (kWh) from PHP15.04 in September to PHP14.15 this month. 'The payment for the WESM bill for the month of June 2024, divided and paid in four months, has already been completed,' its management said. There is also a decrease in the WESM market price from PHP9.58 per kWh in September to only PHP8.52, or a difference of PHP1.06, it added. Ceneco, which entered into a joint venture agreement with Negros Electric and Power Corp. (Negros Power), reported a reduction of PHP0.62 per kWh in October for this month's rate of PHP11.06 from PHP11.68 in September. 'The decrease is primarily driven by the reduction in the generation charge due to the significant drop in WESM prices and decrease in value-added tax charges,' the Ceneco management said. In August, Negros Power started to take over the operations of Ceneco after obtaining a franchise to manage and operate the electricity distribution system in the cities of Bacolod, Bago, Talisay, and Silay, as well as the municipalities of Murcia and Don Salvador Benedicto. Down south, Noceco announced a downward adjustment of PHP1.63 per kWh for the current month, which translates to a rate of PHP12.91 from the previous month's PHP14.54. 'This significant drop is primarily attributed to the PHP4.03 per kWh decrease in spot market energy prices, leading to a lower blended generation charge of PHP6.61,' its management said. Source: Philippines News Agency