Press Release
NOCECO ELECTRICITY RATES
NOCECO Electricity Rates Decrease Due to Lower Generation Charge
This is to inform our Member-Consumer-Owners of the rate reduction in the March 2024 power rates. The Php 2.1484 per kWh decrease in the total residential electricity rates is driven by the total generation charge which reduced by Php 2.0290 per kWh as compared to last month. The main factor in the decrease in generation charge is the Php 2.6134 per kWh reduction in the energy cost from Wholesale Electricity Spot Market from its previous power cost of Php 8.4735 per kWh. Palm Concepcion Power Corporation (PCPC) decreased from Php 8.7774 per kWh in the previous month to Php 8.5831 per kWh this March 2024.
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