The Northern Negros Electric Cooperative has also announced a P1 increase in its electricity rates in February, from P12.3865 per kilowatt-hour last month to P13.4306/kWh.
The P1.0441/kWh increase in its residential rates was caused by the increase of generation charges from power suppliers, NONECO announced Thursday, February 22.
NONECO noted a P1.9376/kWh increase in the market price of the Wholesale Electricity Stock Market (WESM) from P6.5169 to P8.4545.
NONECO also cited the increase in the prices of electricity from Basic Energy Green Core Geothermal Inc. from P6.1501 to P6.4415.
The increase was also a result of the return of the feed-in-tariff (FIT) all of P0.0364 as per Energy Regulatory Commission Resolution No. 1 effective this year, it said.*