More Power lowers June electricity rates due to ERC order

ILOILO. More Power announces lower electricity rate of P8.7749/kWh for June 2024, providing relief to consumers.
ILOILO. More Power announces lower electricity rate of P8.7749/kWh for June 2024, providing relief to consumers. (Photo by Leo Solinap)

IN A move to ease the burden of high electricity bills, More Power is implementing a lower rate for the June 2024 billing month.

This follows the Energy Regulatory Commission's (ERC) Order dated June 13, 2024 (ERC Case No. 2024-017-MC), which directs distribution utilities to defer a portion of the Wholesale Electricity Spot Market (WESM) charges.

ERC approves a 4-month staggered collection and payment plan for DUs' WESM purchases to mitigate the impact of high generation costs on consumers.

"The Energy Regulatory Commission (ERC) on Thursday, 13 June 2024, has approved the staggered payment of Wholesale Electricity Spot Market (WESM) purchases by Distribution Utilities (DUs) for four months starting bills payable this June 2024," statement of ERC said.

The ERC is set to issue an Order to the Independent Electricity Market Operator of the Philippines (IEMOP) and DUs to implement a payment scheme, directing IEMOP not to impose penalties.

The average residential rate for June 2024 will be P8.7749/kWh, a significant decrease compared to the previously expected rate.

Residential 2024 rates:

* January - P10.3280/kWh

* February - P9.9652/kWh

* March - P10.0316/kWh

* April - P10.3062/kWh

* May - P11.3263/kWh

The lower rate will be automatically applied to bills received between June 18, 2024, and July 12, 2024.

Customers no longer need to visit More Power offices to request this adjustment.

While the June rate is lower, the deferred portion of the WESM charge will be spread across July, August, and September 2024 bills.

This means customers can expect a slight increase in their electricity rates during those months.

The ERC's directive aims to mitigate the impact of high generation costs on consumers, particularly during periods of high electricity demand.

By allowing the staggered payment of WESM charges, the ERC provides some financial relief for customers.

While More Power is automatically applying the lower rate for June, consumers who may need additional support managing their electricity bills can contact More Power to inquire about available payment options. (Leo Solinap/SunStar Philippines)

Trending

No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.
www.sunstar.com.ph