Ilocos Norte’s power rates are holding steady, providing relief to consumers this holiday season. Cipriano Martinez, the acting general manager of the Ilocos Norte Electric Cooperative (INEC), shared this positive news during a press conference in Laoag City. Martinez highlighted that the cooperative has successfully kept rates below PHP10 per kilowatt-hour throughout the year.
To ensure continued stability and efficiency, INEC has entered into a new one-year emergency power supply agreement (EPSA) with GNPower Dinginin Ltd. Co. and San Miguel Global Power. This agreement will provide up to 52 megawatts of power to the province. Martinez emphasized that this deal is crucial for safeguarding the interests of power consumers in Ilocos Norte.
The new EPSA has resulted in a reduced rate of PHP5.83 per kilowatt-hour, down from the previous PHP6.75 per kilowatt-hour agreement with GNPower Dinginin Ltd. Co. Martinez assured that INEC will continue to seek the most cost-effective power supply through strategic trading in the wholesale electricity spot market and ongoing negotiations with suppliers.
Additionally, the Energy Regulation Commission has greenlit the PHP16.8 billion Northern Loop project, expected to be completed by March 2028. Ilocos Norte Governor Matthew Joseph Manotoc is optimistic that this project will enhance the stability of the Northern Luzon electricity transmission system, ultimately benefiting the approximately 190,000 member-consumer-owners within INEC’s franchise area.