The Negros Occidental Electric Cooperative (NOCECO) announced a 34-centavo per kilowatt-hour increase in its electricity rates for February.
NOCECO said its electricity rate for February is P14.5625/kWh from P14.2216/kWh in January, or an increase of P0.3409/kWh.
The increase was attributed to the continuous rise of the ancillary services from the National Grid Corporation of the Philippines by P0.4942/kWh, used for maintaining the stability and reliability of the power grid, it said.
NOCECO also said that while the fluctuation of foreign exchange rates impacted on the rates of some power suppliers, it was offset by lower energy purchase costs in the spot market.
This offset resulted to a decrease of P0.1674/kWh in generation charge.
There is also an increase in universal charges implemented on orders from the Energy Regulatory Commission.
NOCECO assured its consumers that they are working to manage these fluctuations while reminding everyone to be mindful of their electric consumption.
The Northern Negros Electric Cooperative and Negros Electric and Power Corporation have yet to release their electricity rates for the month.*