The Central Negros Electric Cooperative (CENECO) has announced a decrease in its average residential rate for the billing month of December 2023, amounting to almost P1.
In a statement, CENECO said that the average residential rate for December is at Php10.7694/kWh, a decrease of P0.9754/kWh from November’s rate of P11.7448/kWh.
According to CENECO, the reduction in the rate is attributed to the decrease in total generation charges by 10.82% as compared to the previous month. This drop is due to the Wholesale Electricity Spot Market (WESM) price, which decreased from Php7.8781/kWh to Php6.3205/kWh, resulting in a downward adjustment of Php1.5577/kWh, it added.
CENECO said the pass-through charges of P9.5828/kWh of the total power rate include the Generation and Transmission charges, ERC-approved adjustments, government subsidies, and taxes.
It reiterated that only P1.1866/kWh of the power rate goes to CENECO through Distribution, Supply, Metering (DSM) Charges for its administrative and operational services, and Reinvestment Fund for Sustainable CAPEX (RFSC). This amount hasn’t changed since 2010, the electric cooperative said.