Razon Group Companies Offer Cheapest Power Rates in Panay and Negros
ILOILO CITY — Companies under the Razon group have established the cheapest power rates across the islands of Panay and Negros. Recent data from a power forum held in Iloilo City revealed that MORE Electric and Power Corp. (MORE Power) and Negros Electric and Power Corp. (Negros Power) provide residential consumers with the most affordable electricity prices.
The Independent Electricity Market Operator of the Philippines (IEMOP) explained that lower rates stem from proactive and strategic power source contracting. “Utilities that manage their supply sourcing well and remain active in monitoring market trends are better positioned to offer consumers lower rates,” said IEMOP President and CEO Atty. Richard Nethercott.
Strategic Contracting Drives Competitive Rates
Roel Castro, president and CEO of MORE Power and Negros Power, added that their companies’ success comes from strategic power contracting through a Competitive Selection Process (CSP) combined with real-time monitoring of price movements in the Wholesale Electricity Spot Market (WESM). This approach has allowed them to maintain consistently lower rates for consumers.
MORE Power Dominates Panay and Guimaras with Lowest Rates
For May 2025, MORE Power posted the cheapest rate in Panay and Guimaras Islands at P11.13 per kilowatt-hour (kWh). This rate undercuts other local providers such as Iloilo Electric Cooperative I (ILECO I) at P12.53/kWh, ILECO II at P12.25/kWh, and ILECO III at P11.27/kWh. It also beats Aklan Electric Cooperative (AKELCO) at P12.74/kWh, Antique Electric Cooperative (ANTECO) at P12.82/kWh, Capiz Electric Cooperative (CAPELCO) at P12.78/kWh, and Guimaras Electric Cooperative (GUIMELCO) at P12.69/kWh.
Negros Power Leads with Competitive Pricing Since Launch
Negros Power, a joint venture between Primelectric Holdings Inc. and Central Negros Electric Cooperative (CENECO), has maintained lower rates since its launch in November 2024. For May 2025, Negros Power’s rate stands at P11.69/kWh, significantly cheaper than competitors like Northern Negros Electric Cooperative (NONECO) at P13.28/kWh, Negros Occidental Electric Cooperative (NOCECO) at P12.02/kWh, Negros Oriental Electric Cooperative 1 (NORECO 1) at P12.18/kWh, and Negros Oriental Electric Cooperative 2 (NORECO 2) at P11.71/kWh.
Local leaders noted that the Razon group’s focus on strategic procurement and active market participation has resulted in better electricity rates for consumers in these regions. This competitive edge benefits both residential users and the broader community by easing electricity costs.
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