Average residential power rates in Negros Occidental, including Bacolod City, decreased in October due to the lower generation charge following the reduction in prices of the Wholesale Electricity Spot Market (WESM).

The downward rate adjustment was announced by Northern Negros Electric Cooperative (Noneco), Central Negros Electric Cooperative (Ceneco), and Negros Occidental Electric Cooperative (Noceco) in separate advisories.

Noneco yesterday reported a reduction of P0.89 per kilowatt-hour (kWh) from P15.04 in September to P14.15 this month.

“The payment for the WESM bill for the month of June 2024, divided and paid in four months, has already been completed,” its management said.

There is also a decrease in the WESM market price from P9.58 per kWh in September to only P8.52, or a difference of P1.06, it added.

Ceneco, which entered into a joint venture agreement with Negros Electric and Power Corp. (Negros Power), reported a reduction of P0.62 per kWh in October for this month’s rate of P11.06 from P11.68 in September.

“The decrease is primarily driven by the reduction in the generation charge due to the significant drop in WESM prices and decrease in value-added tax charges,” the Ceneco management said.

In August, Negros Power started to take over the operations of Ceneco after obtaining a franchise to manage and operate the electricity distribution system in the cities of Bacolod, Bago, Talisay, and Silay, as well as the municipalities of Murcia and Don Salvador Benedicto.

Down south, Noceco announced a downward adjustment of P1.63 per kWh for the current month, which translates to a rate of P12.91 from the previous month’s P14.54.

“This significant drop is primarily attributed to the P4.03 per kWh decrease in spot market energy prices, leading to a lower blended generation charge of P6.61,” its management said. (PNA)