The Negros Occidental Electric Cooperative (NOCECO), a local power distribution company servicing most areas in southern Negros Occidental, has announced a significant drop in its electricity rates by P1.8241 per kilowatt-hour.
The reduction of P1.8241 per kWh is mainly due to the decrease of P1.4832 per kWh in the total generation charge, driven by the P2.8879 per kWh reduction in the Wholesale Electricity Spot Market, NOCECO said in an advisory.
Other contributing factors are the decrease in PCPC and KEPCO-SALCON Power Corporation’s rates and the completion of PSALM adjustments.
NOCECO said Palm Concepcion Power Corporation (PCPC) decreased from P14.8784 per kWh in the previous month to P14.3723 per kWh this February 2023. KEPCO-SALCON Power Corporation also decreased by P0.3604 per kWh.
The reduced rates will take effect for this month billing cycle, and will provide savings to thousands of households and businesses across NOCECO’s service area.