Negros Electric and Power Corp. (Negros Power) announced a minimal P0.13/kWh increase in residential electricity rates for August. The new average rate is set at P11.50/kWh, a slight rise from July’s P11.37/kWh.
The power distributor explained that the primary driver for a potential rate increase was the Wholesale Electricity Spot Market (WESM), where costs surged from P4.88/kWh to P5.46/kWh. This jump would have resulted in a much higher charge for consumers, but Negros Power’s strategic cost management and supply procurement strategies helped absorb the bulk of the increase.
According to a statement from Negros Power on Tuesday, August 19, the minimal adjustment reflects the company’s commitment to protecting consumers from market volatility. The increase was further offset by a decrease in transmission costs. Specifically, the Ancillary Services–Reserve Market charge dropped by P23.65/kW, providing a P0.027/kWh reduction for households.
Negros Power noted that this combination of strategic management and favorable market conditions on the transmission side allowed them to keep the overall rate increase at a bare minimum, despite facing a significant surge in generation expenses.
The company continues to prioritize operational efficiency and stable power supply to ensure fair and affordable rates for its customers.
