Primelectric Holdings Inc.’s utilities rolled out lower electricity rates in the Visayas this month after tapping into cheaper supply agreements and market-based procurement strategies to lower consumer bills.
The Razon-controlled company said Wednesday its distribution utilities in Iloilo, Negros and Bohol all posted lower residential rates during the month, which it claimed were the lowest in their respective areas in the region.
Negros Power said the lower rate was largely due to “efficient procurement” of electricity from generation companies and to its active participation in the Wholesale Electricity Spot Market, where electricity is traded in real time.
Primelectric president and chief executive officer Roel Z. Castro said the rate cuts were expected to help consumers cope with rising living costs.
“While global energy markets remain unpredictable, our priority has always been to deliver stable and more affordable electricity to the communities we serve,” he said. “These rate reductions reflect our efforts to cushion households from volatility in fuel and commodity markets.”
