ILECO 1 to increase rate because of NPC's adjustment rate
The Iloilo Electric Cooperative (ILECO) 1 will be increasing its rate probably by next month because of the National Power Corporation (NPC) currency adjustment rate implemented also.
ILECO 1 manager Wilfred Billena said that their cooperative per se has no intention of increasing the present-day electricity rate, but because of NPC implementing nationwide a currency adjustment rate which for the Visayas is 2.79 centavos per kilowatt then they have to make an increase also.
Billena also said that corresponding to the increase in the currency adjustment will be the increase to the systems loss, which he could not yet estimate, and the incremental fuel cost which is 5.99 centavos per kilowatt.
The ILECO 1 manager said that actually their electricity consumption rate has not been adjusted since 2003 when the Energy Regulation Commission did an unbundling of rates and so the increase next month will be the first after a long while.
Billena added that not only will ILECO 1 adjust its rate, but all other cooperatives including the Panay Electric Cooperative which is distributing power in Iloilo city. (PNA)