The management of the Negros Oriental 2 Electric Cooperative sought to allay fears of a massive increase in electric rates in the March 2012 billing as a result of the power rate increase by power producer Green Core Geothermal Inc.
Contrary to an erroneous computation which appeared in a local newspaper (not the MetroPost), Acting Noreco 2 General Manager Dionefred Macahig said that the power rate increase will only be .24 centavos per kilowatt-hour from last month’s rate.
In a forum with the Negros Oriental Chamber of Commerce & Industry, Macahig said that as a result of the adjustment, the Noreco 2 residential power rate will be Php 10.70 per kilowatt hour, up from February’s rate of 10.46/kwh.
Likewise, the commercial rate starting March will be Php 9.9279, an increase of .2179 centavos per kilowatt hour (see rate table on page 7).
Macahig said that a comparison among rates of the 11 electric cooperatives in Negros, Panay and Cebu places the Noreco 2 with at sixth place in terms of residential rates.
One factor that keeps the Noreco 2 rate down, Macahig said, is that it is tax-exempt as a cooperative registered with the Cooperatives Development Authority.
The highest residential rate in the three islands starting March is Php 13.05 by the Capiz Electric Company in Panay island.
