RAZON-LED Primelectric Holdings, Inc. (PHI) is allocating P2.1 billion in capital expenditures across its power utilities to upgrade distribution infrastructure and help maintain lower electricity rates.
PHI’s utilities — MORE Electric and Power Corp. (MORE Power), Negros Electric and Power Corp. (NEPC), and Bohol Light Company, Inc. (BLCO) — will continue to prioritize loss-reduction programs to sustain low rates and improve service quality, the company said in a statement over the weekend.
Mr. Roel Z. Castro, president and chief executive officer of PHI, said the company remains focused on delivering affordable and reliable electricity to its customers.
“Our goal is to pass these savings directly to consumers, helping families allocate funds toward essentials like food, education, and other vital needs,” Mr. Castro said.
MORE Power, the electric distribution utility serving Iloilo City, reduced electricity rates by P0.61 per kilowatt-hour (kWh) in June, resulting in P122 in monthly savings for households consuming 200 kWh.
BLCO slashed power rates by P0.75 per kWh, translating to P150 in savings for the same monthly consumption.
NEPC customers also saw a P0.55 per kWh reduction, equivalent to P110 in savings for households consuming 200 kWh.
“The total reduction of P1.91 for the three distribution utilities is possible due to several favorable economic factors, including lower costs in the Wholesale Electricity Spot Market and decreased transmission charges,” PHI said.
The company said these rate adjustments position PHI’s utilities among the most affordable electricity providers in the Visayas region. — Sheldeen Joy Talavera
