Power rates for residential consumers of Central Negros Electric Cooperative decreased by 31 centavos this month, Ceneco general manager Sulpicio Lagarde announced yesterday.
Lagarde said electricity bill for October will reflect charges of P8.9492/kWh compared to last month's P9.2653/kWh.
The generation charges, the biggest contributory factor in the rate impact, decreased by P0.205 or 3.89 percent compared to the previous month due to the lower price in the Wholesale Electricity Spot Market.
Other factors were decreases in Transmission Charges, Systems Loss Charges, Total VAT, Lifeline Rate Subsidy and Mandatory Rate Reduction.
With the reduction of the power rates, Lagarde said, a consumption of 100 kWh will mean P31.61 in discounts.
He said they expect no more power rate increases before the year ends and that the electricity prices will remain stable until December.
Last month, Ceneco announced that its residential rates for September will be P9.2653/kWh, a decrease of P0.7573/kWh from last month's P10.0226/kWh.
Meanwhile, the hearing on the application for the approval and confirmation of the load-factor based pricing scheme on a monthly reconciliation of the unaccepted contract quantity of the supplemental agreement between Ceneco and Kepco SPC Power Corporation is scheduled at 9 a.m. Wednesday at Ceneco's main office.
In January 2010, Green Core offered a 10-megawatt capacity at P4.70 per kilowatt-hour, and in October 2010, Unified Leyte/Psalm informed Ceneco that it had available capacity of 10MW plus flexible supply for intermediate and peak demand of up to 55MW priced at P3.80 per kilowatt-hour.
The hearing on Ceneco's application for approval of over/under recoveries in the implementation of automatic cost adjustments and true-up mechanisms and corresponding confirmation process pursuant to ERC Resolution no. 16, series of 2009, as amended by Resolution no. 21 series of 2010, will be held at about 2 p.m. on October 28 at the ERC hearing room in Manila.
The application for the approval of the amendment to the power sales contract between the electric firm and Kepco SPC power corporation of the Negros Occidental Electric Cooperative Inc. will be held at 9 a.m. Thursday at Noceco's main office, while the hearing on the application for a power sales contract with the SPC Island Power will be at 2 p.m. on the same day, also at their main office.*APN