The Ilocos Norte Electric Cooperative (INEC) is gifting consumers with an early Christmas present as it announced stable power rates this December.
“We are in a safe place in terms of rate,” said acting INEC general manager Cipriano Martinez in a press conference Thursday.
INEC managed to stabilized power rates in the province to a single-digit number or less than PHP10/kWh this year, he said.
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.
Effective this week, Martinez reported that INEC signed a one-year emergency power supply agreement (EPSA) with GNPower Dinginin Ltd. Co. (GNPD) and San Miguel Global Power to help secure up to 52 megawatts (MW) power supply for the province.
“This emergency power supply agreement will safeguard the welfare of our power consumers in the province,” Martinez said in a briefing after the EPSA signing with the two giant power providers.
From PHP6.75 per kilowatt hour (kWh) power supply deal with the previous EPSA with GNPD, INEC was able to negotiate for PHP5.83/kWh with the new EPSA from both power suppliers.
Through efficient trading in the wholesale electricity spot market and continuous negotiations with power suppliers, Martinez assured consumers that they will continue to exercise all means to get supply at a lower cost.
Meanwhile, the Energy Regulation Commission has approved the Northern Loop project worth PHP16.8 billion is set to be completed in March 2028.
With this, Ilocos Norte Governor Matthew Joseph Manotoc expressed optimism that the implementation of said project will finally stabilize the Northern Luzon electricity transmission system that will better serve the franchise area of INEC with around 190,000 member-consumer-owners. (Leilanie Adriano)
(Source: Philippine News Agency)