The Camarines Norte Electric Cooperative (CANORECO) announced that power rates for the month of June will increase due rise in billing rates last May 2022.
The residential rate is now P13.2661 per kWh compared to P12.7696 per kWh last April 2022 billing.
The low voltage rate is P12.3125 per kWh and the high voltage rate is P10.5757 per kWh.
According to CANORECO, this is because of the P7.5603 per kWh increase of Blended Generation Charge compared to P7.1134 last April.
This is also due to the increase in fuel cost of Therma Luzon, Inc. (TLI) last billing period because of additional demand for coal.
There was also a slight increase in System Loss Charge and Value Added Tax (VAT)
On the other hand, there is a slight decrease in the following: Lifeline Subsidy, Senior Citizen Subsidy, Generation Rate Adjustment Mechanism/Incremental Currency Exchange Rate Adjustment, and Transmission Charge.