The More Electric and Power Corporation (MORE Power) is commended by Energy Regulatory Commission (ERC) Chairman Atty. Monalisa Dimalanta for its effective management, compliance with the Magna Carta for Residential Electricity Consumers as a result of its initiative to refund bill deposits to customers, and for having a low power rate in the Philippines.
Other distribution utilities (DUs), in Dimalanta’s opinion, ought to imitate MORE Power’s example.
“We encourage this culture of accountability among the regulated entities as demonstrated by the actions of MORE Power on the refund and least cost supply,” stated Dimalanta.
Dimalanta thought that if MORE Power could be effective in its system, other DUs should follow suit.
She continued by saying that the ERC has strengthened its monitoring in order to guarantee fair electricity pricing in compliance with Republic Act 9136, often known as the Electric Power and Industry Reform Act (EPIRA law).
“The commission has been implementing heightened monitoring of regulated entities and this exercise is bringing to the surface the negative practices to correct as well as positive practices to promote,” Dimalanta continued.
The cost of energy for Iloilo City residents has dropped for six months running under MORE Power this year.
The residential tariff for MORE Power fell from P13.2511 per kWh in May to P12.2990 in June, a nearly P1 decrease.
Until the end of the year, MORE Power anticipates that their electricity bill will continue to drop.
Niel Parcon, vice president for corporate planning and regulatory affairs at MORE Power, cited the company’s purchase of geothermal energy from the Energy Development Corporation’s geothermal plant in Leyte and the decline in the price of coal on the global market from $488 to $200 per ton as two of the main causes of the reduction in electricity prices.
Earlier this year, MORE Power said that it will begin returning bill deposits to its “good paying customers.” The business plans to repay P5 million in bill deposits this year.
These measures, if implemented effectively, can improve access to basic services and enhance the overall well-being of individuals and families.
Both refunding bill deposits and reducing electricity rates reflect a genuine concern for consumers’ financial stability.