Latest news with #RoelCastro
GMA Network
26-06-2025
- Business
- GMA Network
Razon-led Prime Electric's More, Negros Power, Bohol Light slash power rates
Tycoon Enrique Razon Jr.'s Prime Electric Holdings Inc. (PHI), through its utility units—More Power in Iloilo City, Negros Power in Central Negros, and Bohol Light in Bohol—has implemented a significant reductions for its power rates this month. In a new release on Thursday, customers of Bohol Light would expect a 75-centavo rollback per kilowatt-hour (kWh) in their bills, which would translate to a P150 in savings for an average household consuming 200 kWh. In Iloilo City, customers of More Electric and Power Corporation would enjoy a rate decrease of 61 centavos per kWh, resulting in an estimated P122 bill reduction for those who are consuming 200 kWh. Meanwhile, customers in Central Negros would look forward to a 55-centavo per kWh cut, lowering the residential electricity rate from P11.69 to P11.14 per kWh. For Central Negros households using 200 kWh monthly, this would mean a P110 in savings, according to PHI. PHI said the total rate reduction for its three distribution utilities stood at P1.91, on the back of 'several favorable economic factors,' including lower costs in the Wholesale Electricity Spot Market and decreased transmission charges. The rate reductions position the three utilities among the most affordable electricity providers in the Visayas region, according to the company. Roel Castro, president and CEO of PHI, said that the company remains committed to delivering affordability and reliability, ensuring that every peso saved on electricity goes toward improving the lives of the communities they serve. "Our goal is to pass these savings directly to consumers, helping families allocate funds toward essentials like food, education, and other vital needs," said Castro. PHI said it continues to prioritize infrastructure upgrades, system loss reduction programs, and smart market participation strategies to sustain low rates while enhancing service quality. — Ted Cordero/BM, GMA Integrated News
GMA Network
09-06-2025
- Business
- GMA Network
Negros Power commits to invest in infra, modernization
The Negros Electric and Power Corporation (NEPC) vowed to continue investing in infrastructure and modern technology across Central Negros. 'The journey has just begun. We owe it to our consumers to deliver reliable, accessible, and affordable electricity for years to come,' Negros Power President Roel Castro said in a press release issued Monday. "We are asking for the patience and understanding of consumers as we need four more years for consumers to feel the improvements of our full rehabilitation and modernization plan,'' he added. In a recent meeting with consumer and business leaders, Castro presented a comprehensive report detailing the company's key achievements since starting operations in August 2024, noting that the firm's goal has been to modernize the system, restore public confidence, and extend reliable electric service in the region. Among the most notable achievements in the past nine months was the complete rehabilitation of the Alijis Substation, which is now equipped with new and upgraded power transformers, Castro said. Additional improvements were carried out in other substations to enhance system capacity and resilience, he added. Castro said Negros Power also successfully rehabilitated the entire 30-kilometer Bacolod–Silay 69kV subtransmission line, replacing aging poles and installing new pin insulators. It also heightened efforts to reduce system loss by initiating strict anti-electricity pilferage campaigns, ensuring accountability and protecting legitimate consumers from losses due to illegal connections. Castro said one of the ''most impactful'' initiatives was the Sitio Electrification Program, which has started energizing remote and previously unserved communities. This effort involves installing new poles, transformers, and meters, providing reliable power access to areas that had long been in the dark. 'No one should be left in the dark. The Sitio Electrification Program is about progress and inclusion. We did it in 17 sitios and invested nearly 26 million pesos, benefiting 1,671 households,' Castro said. — BAP, GMA Integrated News
