The Central Negros Electric Cooperative (CENECO) announced Monday, January 16, that residential power rates for the month of January had been lowered by P1.0949/kWh.
According to CENECO Acting General Manager Atty. Vic Alvaro, the 9.31% decrease from the previous month’s cost was attributed to a total net reduction in generating charges in the average Wholesale Electricity Spot Marketing (WESM) price, which fell from P10.1146/kWh to P8.8731. Alvaro also cited a decrease in fuel costs as a result of a one-time Palm Concepcion Power Corporation (PCPC) fuel discount of P0.27/kWh for the December 2022 billing of its 35MW power supply deal.
He underscored that the generation charge is a cost passed on from power suppliers and that CENECO does not profit from it.
With the decrease in pricing, the average residential rate for January is now at P15.1057/kWh versus last month’s P16.2006/kWh, CENECO said in a statement.
Aside from CENECO, the Negros Occidental Electric Cooperative (NOCECO) has also dropped its rate rate for the month of January. NOCECO’s dropped by P0.9587.
The adjustment according to NOCECO was driven by the total generation charge which dropped by P0.7784 per kWh compared to last month.
The reduction was largely attributed to the the decrease in generation charge, it said it a statement.