• CHERYL G. CRUZ
Member-consumers of the Negros Occidental Electric Cooperative (Noceco) will be paying P17.9609 per kilowatt-hour of electricity consumed this billing month of May, from P14.6309/kWh in April.
The hefty increase of P3.3300/kWh was due to the 55 percent upward adjustment in the cost of electricity purchased by Noceco from the Wholesale Electricity Spot Market (WESM), or from P10.3620/kWh last month to P16.0644/kWh this May.
“While our contract with GNPower offers a slight decrease in purchased power costs, the overall generation charge still increased by P2.7520/kWh,” or at P11.6354/kWh from P8.8834/kWh in April, the Noceco advisory said.
It added that another of its supplier, the Palm Concepcion Power Corporation, has started delivering replacement power to Noceco while its power plant is still undergoing necessary repairs.
Noceco also announced a new contract with Kepco Salcon Power Corporation (KSPC), which could “significantly reduce our exposure to the volatile spot market.”
“We are expediting the approval process with the Energy Regulatory Commission to ensure a swift implementation”, adding it is committed to finding solutions that will mitigate the impact of rising electricity prices.
Noceco also told member-consumers from Pulupandan, Valladolid, La Carlota City, San Enrique, Pontevedra, Hinigaran, La Castellana, Moises Padilla, Binalbagan, Isabela, Himamaylan City, Kabankalan City, Ilog, Cauayan, Candoni, Sipalay City, and Hinoba-an of the anticipated increase in electricity consumption for cooling purposes, with the continuing high temperatures.
This surge in demand, coupled with unscheduled power plant outages, can further drive-up spot market prices, based on basic economic principles of supply and demand, it added. | CGC
