Clark Development Corp. (CDC) president Liberato Laus said the ERC’s approval a 25-centavo per kilowatt-hour reduction in charges of the National Transmission Corp. will also bring down electric bills from P5.58 to P5.33 per kilowatt-hour.
"The reduced power rates will make Clark more attractive to prospective local and foreign investors," Laus said, adding that the lower rates have already taken effect.
He said the reduced rates will lead to savings of about P630,000 million a month for each investor at the ecozone, or a total of about P4.4 million for the entire ecozone.
Laus said the new power rates are much lower than the P7.763 per kilowatt-hour being charged by the Angeles Electric Corp., which used to partially provide electricity to some parts of the ecozone.
The Clark power rates are also much lower that those in other economic zones in the country such as the Mactan Export Processing Zone and Cebu Light Industrial Park, which charge P6.03 per kilowatt-hour, or even the Manila Electric Corp. (Meralco) whose rate is P6.83 per kilowatt-hour for commercial establishments and P7.23 per kilowatt-hour for households, Laus said.
"With the lowering of utility rates, Clark has become one of the most affordable prime economic zones in the country. This development boosts the realization of President Arroyo’s agenda to fully develop Clark as a major economic growth corridor," he said.