Member-consumers of the Central Negros Electric Cooperative (Ceneco) can breathe a sigh of relief as the cooperative announced a reduction in its average residential rates for this month.
In a press statement, Ceneco said from last month’s rate of P13.6716/kWh, April’s cost per kilowatt is now down to P12.7371, giving consumers a breather from high electricity bills this summer season.
Ceneco attributed this rate reduction mainly to the decrease in total generation charges from power suppliers. The likes of Palm Concepcion Power Corporation, Green Core Geothermal Inc., CENPRI, and the Wholesale Electricity Spot Market all showed decreases, resulting in the total generation charges decreasing to P8.9709/kWh this April from P8.4340/kWh in March, it added.
This rate decrease is part of a continuous trend that Ceneco has been implementing since the start of 2023.
The cooperative’s average residential rates have been decreasing since January, starting at P15.1057/kWh, followed by P14.8756/kWh in February, and P13.6716/kWh in March. This month’s decrease of P0.9345/kWh is the latest in the series of reductions implemented by Ceneco.
One of the most significant rate reductions implemented by Ceneco happened in March. The cooperative noted a decrease of P1.2040/kWh, which was attributed to several factors. One of which is the downward adjustment of P3.68/kWh in the fuel cost of Palm Concepcion Power Corporation (PCPC) under its 20-megawatt Power Supply Agreement (PSA) with Ceneco.
Also, a P0.2619/kWh decrease in the fuel cost of PCPC’s 35MW PSA, a fuel discount of P1.05/kWh, and the suspension of the collection of the Feed-in Tariff Allowance (FIT-All) equivalent to P0.0364/kWh contributed to the reduction.
Negros Occidental Electric Cooperative (Noceco) meanwhile reported a P1.1062/kWh reduction in its residential rates this billing month of April. This means that consumers being served by Noceco will pay P14.3856/kWh from last month’s rate of P15.4918/kWh.
