The Oriental Mindoro Electric Cooperative (ORMECO) announced a decrease in electricity rates for July 2024, contrary to circulating misinformation about price hikes.
According to ORMECO’s latest data, the overall electricity rate for residential consumers has dropped to P16.7433 per kilowatt-hour (kWh) this month, down from June’s rates. This represents a P0.5484 per kWh decrease.
ORMECO General Manager Humphrey Dolor attributed the rate reduction to three key factors:
- An 86.39% increase in hydro energy production
- A 10.75% reduction in emergency power usage
- A ₱0.0922 per kWh decrease in system loss rate
“The rainy season has significantly boosted our renewable energy generation, particularly hydropower,” Dolor explained in a Facebook post. “Hydro energy output grew from 3,346,692 kWh to 6,237,738 kWh, an 86.39% increase,” he added.
He said the surge in renewable energy led to reduced reliance on more expensive emergency power sources. Emergency power generation decreased by 10.75%, from 14,021,566 kWh to 12,514,334 kWh.
The combination of these factors also contributed to lowering the system loss rate from P2.0291 per kWh to P1.9370 per kWh, Dolor said.
The cooperative’s data shows a consistent downward trend in electricity rates since January 2024, following higher prices throughout 2023.
ORMECO’s published rates for July 2024 also reveal:
- Commercial: P15.6337 per kWh
- Industrial: P15.2430 per kWh
- Public buildings: P15.3547 per kWh
- Street lights: P17.4446 per kWh
GM Dolor also pointed out the importance of accurate information.
“We urge the public to rely on official ORMECO announcements regarding electricity rates. The circulating claim of P21 per kWh for July is incorrect,” he said.
The cooperative expects rates to continue declining if renewable energy supplies remain high and system losses stay low.
ORMECO encourages consumers to stay informed through their official channels for the most up-to-date and accurate information on electricity rates.
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