The Negros Occidental Electric Cooperative (NOCECO) announced a P1 increase per kilowatt-hour in its electricity rates this February.
NOCECO is increasing its power rates from P12.2471/kWh in January to P13.3051/kWh in February.
NOCECO attributed the P1.0580/kWh increase in electricity rates to the higher generation charge in February.
NOCECO said that there is an increase of P1.1864/kWh in the total generation charge from P6.7286/kWh to P7.9150/kWh.
The main factor in the increase in generation charge is the P1.5693/kWh increase in the energy cost from the Wholesale Electricity Spot Market of P8.4735/kWh from its previous power cost of P6.9042/kWh.
NOCECO said that the yellow alert which began during the grid disturbance on January 2 greatly contributed to the spike in WESM prices.
The electric cooperative also warned of higher electricity rates in the coming months.
“It is expected that electricity prices are usually higher in the hot season when total demand is high because more expensive generation sources are added to meet the increased demand for electricity,” the press release said.
Electric consumers were advised to conserve energy to avoid paying higher electricity bills.
NOCECO also appealed to the public for their understanding as they continue to find better solutions in mitigating the impact on electricity prices.*