ILAGAN CITY: Residents and member-consumers here will be enjoying a lower electric bill this month due to “big-time” roll back on electricity rates.
The rollback, according to Isabela Electric Cooperative II (Iselco II) officials, stems from the decrease in generation charges paid to power producers.
Liborio Medrano, Iselco II billing head based here, said the electric cooperative has received a discount of P1.8 million from SN Aboitiz Power Magat for its on-time payment to the power producer.
SN Aboitiz is a Filipino-Norwegian consortium which acquired the three government-owned power facilities of Magat, Binga and Ambuklao dams amounting to some $840 million. The irrigation component of the dams, however, still remained with the National Irrigation Administration.
As a result of the rollback, Medrano said that member-consumers will be given P1.24-per kilowatt-hour discount for residential rates and low voltage commercial users, and P1.87-per kilowatt-hour discount for high voltage commercial users.
Provided that the electric cooperative continue paying on time, SN Aboitiz officials said residents and establishments will enjoy paying lower power rate in the coming months.