Good news for electricity consumers: private utilities continue to lead in offering low power rates in Negros and Panay, outpacing electric cooperatives in both islands.
Under the leadership of billionaire businessman Enrique Razon Jr., companies like MORE Electric and Power Corporation (MORE Power) and Negros Electric and Power Corporation (Negros Power) are setting the standard for competitive and consumer-friendly electricity pricing.
Read: Negros Power May 2025 Rates Drop: Households to Enjoy Lower Electricity Bills
MORE Power Leads in Affordable Rates on Panay Island
For over five years, MORE Power — the exclusive distribution utility in Iloilo City — has consistently offered the lowest residential electricity rates across Panay Island and Guimaras.
This month of May, 2025, MORE Power’s residential rate stands at P11.13 per kilowatt-hour (kWh), noticeably lower than the rates of surrounding electric cooperatives:
- ILECO I: P12.53/kWh
- ILECO II: P12.25/kWh
- ILECO III: P11.27/kWh
- AKELCO (Aklan): P12.74/kWh
- ANTECO (Antique): P12.82/kWh
- CAPELCO (Capiz): P12.78/kWh
- GUIMELCO (Guimaras): P12.69/kWh
Lower Rates Continue in Negros Island
The trend of competitive pricing continues in the Negros Island Region through Negros Power, a joint venture between Primelectric Holdings, Inc. and Central Negros Electric Cooperative (CENECO).
Since starting operations in November 2024, Negros Power has offered significantly lower electricity rates for seven consecutive months. For May, their residential rate is P11.69/kWh, which remains below those of neighboring cooperatives:
- NONECO: P13.28/kWh
- NOCECO: P12.02/kWh
- NORECO 1: P12.18/kWh
- NORECO 2: P11.71/kWh
Why Low Power Rates in Negros and Panay Are Possible
Industry experts point to one major factor: strategic power sourcing and procurement.
According to Atty. Richard Nethercott, President and CEO of the Independent Electricity Market Operator of the Philippines (IEMOP), a utility’s ability to secure cost-efficient power supply plays a crucial role in keeping prices low.
“Electricity rates are driven by market conditions, a utility’s contracted supply portfolio, and its internal purchasing strategies,” Nethercott explained. “Those who actively manage their supply sourcing and track market trends are in a better position to offer lower rates.”
Competitive Contracting and Real-Time Monitoring
Roel Castro, President and CEO of both MORE Power and Negros Power, echoed this insight.
He shared that their companies use a Competitive Selection Process (CSP) to secure long-term power supply contracts at favorable rates. This is paired with real-time monitoring of price trends in the Wholesale Electricity Spot Market (WESM).
“About 60-65% of your electric bill comes from generation charges,” Castro explained. “That’s why it’s critical to lock in competitive supply contracts. We make sure our strategies reflect market realities without compromising reliability.”
Not Just About Profit
As mentioned by Mr. Castro, 60–65% of the total electricity bill — in fact, most of the amount — consists of pass-through charges. These are costs that go directly to power suppliers, the transmission grid operator, and government taxes. These are not profits for MORE Power or Negros Power.
Despite this, these private utilities have still managed to bring overall electricity rates down, benefiting consumers with lower monthly bills.
This effort highlights their commitment to efficiency, transparency, and strategic sourcing — even if it doesn’t lead to greater profits for them. By securing cost-effective power supply contracts and actively managing their procurement strategies, MORE Power and Negros Power are proving that utilities can act in the best interest of the consumers, not just the bottom line.
They do it not because they earn more, but because it’s the right thing to do for the people and the communities they serve.
Why It Matters for Consumers
With the rising cost of living, affordable electricity is a relief to many Filipino households. The consistent performance of private utilities like MORE Power and Negros Power shows how professionalized utility management, transparent procurement, and market-savvy operations can directly benefit consumers.
It’s a model worth emulating — one that puts consumers first while maintaining service quality and sustainability.
Stay informed. Stay empowered. Lower electricity bills are possible — and it starts with smarter utility management.
