DUMAGUETE CITY, Jan. 19 (PNA) – The Negros Oriental II Electric Cooperative (NORECO II) has announced to its member-customer-owners (MCOs) a reduction in the power rates for the month of January, 2015.
This is the second time in a row that NORECO II adjusted its power rates in relation to the amendments in the contract between NORECO II and Green Core Geothermal, Inc. (GCGI), the primary source of power of the said electric cooperative.
NORECO II is also enjoying the 3.2 percent prompt payment discount accorded by GCGI to its prompt-paying clients, said NORECO II general manager Dionefred Macahig in a news release Monday.
The adjusted rates differ for three consumer types, namely residential, low voltage and high voltage consumers.
For residential consumers, the December 2014 billing was pegged at Php 9.6122 per kilowatt hour (kWh) versus Php 9.3140 per kWh for January 2015, or a decrease of Php 0.2982/kWh.
Low voltage consumers will be charged Php 8.4643/kWh for January 2015 as opposed to a Php 8.7632/kWh last December, or an adjustment of Php 0.2989/kWh.
On the other hand, high voltage consumers will see a decrease in their January 2015 billing of Php 0.2843/kWh or Php 6.8283/kWh from a Php 7.1126/kWh rate in December of 2014.
NORECO II management has thanked its MCOs for the continuous support which has allowed the decrease in power rates due to prompt payment to GCGI.
Last Dec. 11, NORECO II and GCGI signed an amendment to their Power Supply Agreement (PSA) for a Php 0.45 per kilowatt hour rate reduction that took effect last October 26.
The extended term will be from Dec. 25, 2020 to December 25, 2035 with the delivery of 25-megawatt geothermal power at a reduced rate pursuant to the re-pricing provisions and market-based structure in the original ten-year agreement. (PNA)