The Ilocos Norte Electric Cooperative (INEC) is gifting residential consumers an early Christmas present as it announced a PHP1 per kilowatt hour reduction in power rates this December.
Acting INEC general manager Cipriano Martinez shared the good news on Thursday, saying consumers can expect a reduction of PHP1 per kilowatt hour (kWh) this month, from PHP9.72 in November to PHP8.72.
“We wish that this December rates will in one way or another contribute joy, give hope, and bring the light of the holiday seasons to our member consumer-owners,” he said in an interview.
Martinez hopes that through efficient trading in the wholesale electricity spot market (WESM) and continuous negotiations with power suppliers, INEC will be able to sustain the reduction of power rates to a single-digit number.
To sustain the decrease in power rates and improve the efficiency of the lone distribution utility’s services in the province, Martinez said they will continue to exercise all means to get supply at a lower cost.
Aside from purchasing supply from the WESM, INEC has entered into an emergency power supply agreement with AboitizPower and San Miguel Corporation to lock down rates and supply ahead of the seasonal demand uptick during the holidays.
“I am just happy that we all get the benefits from it,” said Nelly Cristobal, owner of Casa Victoria Resort in Pagudpud town.
“I used to pay almost PHP7,000 on average monthly electric bills. Thanks to the continued efforts of INEC to reduce electricity rates in the province, my bill went down to more or less PHP5,000,” said Marivic Adena, a resident of Barangay Salet, Laoag City. (Leilanie Adriano)