NOCECO

Press Release

NOCECO ELECTRICITY RATES

NOCECO Electricity Rates Increase Due to Higher Generation Charge

This is to inform our Member-Consumer-Owners of the rate increase in the April 2024 power rates. The Php 3.4742 per kWh increase in the total residential electricity rates is driven by the total generation charge which increased by Php 2.9974 per kWh as compared to last month. The main factor in the increase in generation charge is the Php 4.5019 per kWh increase in the energy cost from Wholesale Electricity Spot Market from its previous power cost of Php 5.8601 per kWh.

Furthermore, PCPC which supplies part of NOCECO’s baseload has been under Preventive Maintenance Schedule since February 18, 2024 leading to a bigger exposure to the sport market.

Fortunately, NOCECO was able to secure an Emergency Power Supply Agreement with GNPower Kauswagan (GNPK) to cover the deficit. We are also expecting the power from KSPC to start delivering soon, pending approval from the Energy Regulatory Commission.

NOCECO’s Distribution, Supply, and Metering (DSM) charges remain unchanged since February 2010, regardless of the monthly increase/decrease in the overall electricity rate.

Given the high heat index registered recently, we expect a significant increase in electricity consumption for cooling purposes. This surge in demand will likely translate to higher energy prices in the spot market, following the fundamental economic principle of supply and demand.

MCOs are advised to be aware of their energy consumption to avoid paying high electricity bill.

We also appeal to our MCOs’ understanding as we continue to find better solutions to mitigate the impact in electricity prices being experienced by the power industry.

The NOCECO Management

P A H I B A L O