INEC comparative rates from December 2022 to January 2023. (Photo courtesy of INEC)
LAOAG CITY – The National Electrification Administration (NEA) has assigned a new board of director to oversee the management of the Ilocos Norte Electric Cooperative (INEC).
NEA chief Antonio Mariano "Nani" Almeda made the decision after the Ilocos Norte government sought the agency’s assistance to help the cooperative address its energy woes affecting consumers.
“By having an insider at INEC, we now have eyes and ears inside to ensure that the cooperative is managed well,” Governor Matthew Joseph Manotoc said as he thanked NEA for making the necessary intervention.
Upon review of INEC’s existing power supply agreement (PSA) with Masinloc Power Partner Co. Ltd., Manotoc said INEC should have exercised due diligence before signing the long-term supply agreement, which is “disadvantageous” to INEC.
Manotoc is referring to the 20-year generation contract agreement signed between INEC and the Masinloc Power Partners Co. Ltd. in 2018, where most of its power requirements are derived from it.
With the rise of fossil fuel prices in the global market where Masinloc gets its supply, INEC General Manager Felino Herbert Agdigos said they have to pass on the generation charge increase to its consumers.
But with the continuing effort of all concerned government agencies to lower electricity rates in the province, INEC reported Monday that another drop in power rates is expected this January.
In a statement, INEC said the overall electricity rate in the province dropped by PHP0.3998 per kilowatt to PHP14.0450 in January from PHP14.4448 in December last year.
This is now the third drop in power rates in the province since November last year as Ilocos Norte’s power rate went as high as PHP18.56 per kilowatt in July last year as compared to other provinces such as Benguet, Isabela, Ilocos Sur, Pangasinan, Ifugao and Nueva Vizcaya, which range from PHP9.47 to PHP16.49 per kWh. (PNA)
