MARELCO Leads Top 5 Electric Cooperatives with Lowest Residential Rates in January 2024

 

Marinduque Electric Cooperative Inc. and its logo (PIA Mimaropa)

In a recent report, it was revealed that electricity rates within the franchise areas of several electric cooperatives experienced a decline during the initial month of 2024. The Association was able to gather data from 95 out of 121 electric cooperatives, shedding light on the top performers in terms of offering the lowest residential rates.

Among the off-grid electric cooperatives, Marelco emerged as the frontrunner, boasting a residential rate of Php 10.7627/kWh for January 2024. Following closely behind were Romelco with Php 10.8397/kWh, Prosielco with Php 10.9202/kWh, Ormeco with Php 11.2355/kWh, and Banelco with Php 11.5725/kWh.

It's worth noting that the data presented are VAT-inclusive, sourced from the official postings of electric cooperatives via their respective Facebook pages and/or websites. Various factors contributed to the reduction in rates, including decreased generation or transmission charges. Additionally, the impact of ERC Resolution No. 14, Series of 2022, played a significant role. This resolution adopted the Revised Rules Governing the Automatic Cost Adjustment and True-up Mechanisms, along with the corresponding confirmation process for distribution utilities.

Overall, the decrease in electricity rates signals a positive development for consumers within the franchise areas of these electric cooperatives, offering relief amidst economic challenges.