The Central Negros Electric Cooperative (CENECO) has announced a 95-centavo increase per kilowatt-hour in its electricity rates for February.
The electricity rates this month are at P11.7856 per kilowatt-hour, a P0.9506/kWh increase from January’s P10.835/kWh, CENECO said on Friday, February 16.
CENECO attributed the price hike to the increase in generation charges from P6.9629/kWh to P7.9258/kWh due to the bilateral contract price.
CENECO also said that the increase was also a result of the resumption of feed-in-tariff (FIT)-all of P0.0364/kWh based on the Energy Regulatory Commission Resolution 1 this year.
The increase was also made because of the imposition of a Real Property Tax Charge of P0.0124 for the next twelve months or until the full amount has been fully recovered, it added.*