Primelectric Holdings Inc. is banking on cheaper power supply deals and market efficiencies to deliver the lowest electricity rates in the Visayas amid volatile global fuel prices.
All three of its distribution utilities in Iloilo, Negros, and Bohol have rolled out lower power rates, with the company claiming the cheapest rates in the region.
Leading the cuts was Bohol Light Company Inc., which slashed rates by P2.0068 per kilowatt-hour (kWh), bringing average residential rates down to P10.5081/kWh and commercial rates to P9.9291/kWh.
The company attributed the reduction to lower generation and transmission charges, reduced line rental costs, and the temporary suspension of the GEA-ALL charge for the May and June 2026 billing periods as ordered by the Energy Regulatory Commission.
In Iloilo, MORE Power reduced its residential rate to P11.8710/kWh in May from P12.14/kWh in April, driven by a P0.26/kWh drop in transmission charges and lower system loss charges.
The utility said it tapped cheaper bilateral supply contracts to soften the impact of a P0.05/kWh increase in generation charges caused by higher coal prices, import freight costs, inflation, and foreign exchange movements.
Meanwhile, Negros Electric and Power Corp. (Negros Power) posted a residential rate of P11.38/kWh — the lowest among major power distributors on Negros Island — down P0.8655/kWh from April’s P12.2463/kWh.
Negros Power said the lower rates stemmed from efficient electricity procurement and active participation in the Wholesale Electricity Spot Market (WESM), where electricity is traded in real time.
Primelectric president and chief executive officer Roel Z. Castro said the reductions were aimed at easing the burden on consumers grappling with rising living costs.
“While global energy markets remain unpredictable, our priority has always been to deliver stable and more affordable electricity to the communities we serve,” Castro said.
“These rate reductions reflect our efforts to cushion households from volatility in fuel and commodity markets,” he added.
