The company said residential rates for May to June decreased by almost P1 or to P12.2990 per kilowatt-hour from P13.2511 per kWh.'This is the 6th straight month that MORE Power is reducing its rates,' More Power said in a statement sent to the media.It attributed the drop in charges to lower generation cost, said to be the result of the inclusion of geothermal power to the power supply mix made by the Energy Development Corp.
The refund was in compliance with Article 7 of the Magna Carta for residential electric consumers which mandates distribution utilities to refund bill deposits after three years to customers who pay their bills on time and who have no record of disconnection.A bill deposit refers to the payment that was made by the consumer during his application for electric service.
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