EFFICIENT service. A MORE Electric and Power Corporation team conducts maintenance works in Iloilo City in this undated photo. The electric distribution utility has one of the cheapest electricity rates in the country.
Photograph courtesy of MORE Power
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MORE Electric and Power Corp. (MORE Power), led by businessman Enrique K. Razon, Jr., said electricity rates in Iloilo City dropped to P11.3263 per kilowatt-hour in May, the lowest in Western Visayas to date.
The May rate reflects a 7.47 percent decrease from April's P12.0344/kWh, which the company attributed to long-term power supply agreements now covering 66 percent of its energy requirements.
“This approach helps MORE Power keep prices stable, even when the energy market is unpredictable,” said Niel V. Parcon, Vice President for Corporate Energy Sourcing and Regulatory Affairs.
Parcon reiterated that reducing dependence on the volatile spot market enables it to offer more affordable power.
Since becoming the exclusive power distributor in Iloilo City in 2020, MORE Power said it has supported the province’s economic growth.
The firm recently joined the Safety Organization of the Philippines, Inc. and recorded 1.9 million safe man-hours as of October 2024.
It also continues to pursue environmental initiatives, including a mangrove planting and coastal cleanup in Barangay Hinactacan. The activity forms part of its target to plant 10,000 trees and mangroves across Iloilo City. So far, the company has planted over 1,000 mangroves and nearly 9,500 trees.
