NOCECO

Press Release

NOCECO ELECTRICITY RATES

NOCECO Electricity Rates Increase Due to Higher Transmission and Generation Charges

NOCECO announces a rate increase for November 2024. The total residential electricity rate will increase by Php 2.1257 per kilowatt-hour (kWh). This increase is primarily driven by higher generation charges due to significant price hikes in the Wholesale Electricity Spot Market (WESM). Additionally, fluctuations in foreign exchange rates affecting fuel costs, and increased transmission charges imposed by the National Grid Corporation of the Philippines (NGCP) have contributed to the overall rate increase.

To mitigate the impact of these factors, NOCECO is actively working with regulatory bodies and industry partners. NOCECO is following up with the Energy Regulatory Commission (ERC) to secure approval for the new contract with KEPCO Salcon Power Corporation (KSPC) that will reduce exposure to the volatile WESM. Furthermore, NOCECO is collaborating with other electric cooperatives in Visayas to advocate for the potential suspension of the reserve market for ancillary services, which has significantly contributed to increased transmission charges.

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

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