
PRIVATE electric utilities owned by billionaire Enrique Razon Jr. continue to offer the most affordable electricity rates in Western Visayas and Negros Island, with More Electric and Power Corporation (More Power) and Negros Electric and Power Corporation (Negros Power) maintaining rates lower than those of nearby electric cooperatives as of May 2025.
“By actively participating in market opportunities and negotiating long-term power supply agreements at competitive rates, we’re able to keep costs down for our consumers without compromising service reliability,” said Roel Castro, president and CEO of More Power and Negros Power.
Castro emphasized real-time market monitoring and competitive bidding processes to secure optimal generation supply deals.
More Power, the exclusive electricity distributor in Iloilo City, has held the lowest residential rate in Panay Island and Guimaras for more than five years. As of May 2025, its rate is P11.13 per kilowatt-hour (kWh), well below those of nearby electric cooperatives:
Anteco (Antique): P12.82/kWh
Akelco (Aklan): P12.74/kWh
Capelco (Capiz): P12.78/kWh
Guimelco (Guimaras): P12.69/kWh
Ileco (Iloilo) I: P12.53/kWh
Ileco (Iloilo) II: P12.25/kWh
Ileco (Iloilo) III: P11.27/kWh
In the Negros Island Region, Negros Power -- a joint venture of Primelectric Holdings Inc. and Central Negros Electric Cooperative (Ceneco) — has maintained low rates since it began operations in November 2024.
For May, its rate is P11.69/kWh, lower than those charged by neighboring cooperatives:
Noneco: P13.28/kWh
Noceco: P12.02/kWh
Noreco 1: P12.18/kWh
Noreco 2: P11.71/kWh
Castro said that about 60 to 65 percent of a consumer’s electricity bill stems from the generation charge.
Thus, utilities must lock in long-term contracts through a Competitive Selection Process (CSP) and monitor the Wholesale Electricity Spot Market (WESM) to take advantage of favorable rates.
Independent Electricity Market Operator of the Philippines (IEMOP) President and CEO Lawyer Richard Nethercott said that utilities with sound supply strategies and diversified portfolios tend to achieve better pricing.
“Electricity rates are driven by multiple factors — market conditions, the utility’s contracted supply portfolio, and its internal purchasing strategies,” Nethercott said.
Industry observers said the sustained lower rates from More Power and Negros Power highlight how professionalized utility management and transparent procurement practices directly benefit consumers. (Leo Solinap)