Iloilo power firm reduces rate
The lone power distributor here has significantly reduced its generation charges on systems loss and value-added taxes (VAT) by P2.68 per kilowatt-hour when compared with the November 2008 charges.
This was reported by Panay Electric Company (PECO) management to Iloilo City Mayor Jerry P. Treñas this week after reflecting the reduced charges from November 2008 to January 2009.
PECO also assured it will start paying the refund this month on meter deposits of its more than 20,000 power concessionaires in this city.
PECO said the generation rate reduction is in line with the decline of fuel prices in the world market as reflected in the monthly billings of power supplier Panay Power Corp. (PPC) to PECO.
The cut in the generation charges showed P0.9701 per kWh. Consequently, systems loss charge was reduced by P0.1110 per kWh and VAT by P0.1361 when compared to the December 2008 figures.
The billing charges indicated reduction of generation charge from P9.3355 in November 2008 to P8.1636 in December 2008 to P7.1935 in January 2009.
On the other hand, systems loss showed a drop from P1.1212 in November 2008 to P0.9823 in December 2008 to P0.8713 in January this year.
VAT reduction showed P1.1726 in November 2008 to P1.0183 in December 2008 to P0.8822 in January. (PNA)