BACOLOD CITY: In a notable development for residents of Negros Occidental, including Bacolod City, residential power rates have decreased in October following a reduction in generation charges driven by lower prices in the Wholesale Electricity Spot Market (WESM). The Northern Negros Electric Cooperative (Noneco), Central Negros Electric Cooperative (Ceneco), and Negros Occidental Electric Cooperative (Noceco) all reported separate rate cuts.
According to Philippines News Agency, Noneco announced a reduction of PHP0.89 per kilowatt hour (kWh), bringing the rate down from PHP15.04 in September to PHP14.15 in October. This adjustment follows the completion of payments for the WESM bill for June 2024, which had been spread over four months. Additionally, there was a decrease in the WESM market price from PHP9.58 per kWh in September to PHP8.52 in October.
Ceneco, which recently entered a joint venture with Negros Electric and Power Corp. (Negros Power), also reported a reduction of PHP0.62 per kWh. This result
s in a new rate of PHP11.06 for October, compared to PHP11.68 in September. The management attributed the decrease to a significant drop in WESM prices and lower value-added tax charges. Since August, Negros Power has been operating Ceneco’s electricity distribution system in several cities and municipalities in the region.
Further south, Noceco announced a more significant reduction, with a decrease of PHP1.63 per kWh, bringing the rate from PHP14.54 in September to PHP12.91 in October. Noceco management highlighted a PHP4.03 per kWh decrease in spot market energy prices as the primary factor behind the lower blended generation charge of PHP6.61.