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MORE Electric and Power Corp. announced Thursday another round of reduction in residential electricity rate for the September 2023 billing cycle by P0.2701 per kilowatt-hour.
MORE Power said its power rates declined to P10.7139 per kWh from P10.9840 per kWh in August.
“This welcome development will be reflected in the billing statements, providing valuable savings for our valued customers,” the company said in a statement.
MORE Power, led by businessman Enrique Razon Jr., is Iloilo City’s power distributor with over 93,000 customers in its franchise area.
The company’s August rates also experienced a price reduction of P0.43333 per kWh from P11.4173 in July.
MORE Power’s electricity rates declined from a high of P13.7214 per kWh in March.
